Park Avenue to add new categories in Innerwear

Textile and apparel major Raymond Ltd is looking to diversify the portfolio for its flagship brand, Park Avenue by adding new categories to gain a larger market share of the apparel market in India.
Park Avenue to add new categories in Innerwear - Park Avenue - Facebook

The brand currently offers a complete range of men’s innerwear portfolio such as briefs, vests, trunks, socks, thermals, gym vest, track pants, lounge t-shirts, boxers, and more.
Talking on the product expansion plans, Srikanth Ram, Business Head, Park Avenue – Innerwear & Accessories told India Retailing, “We are expanding our collection of boxers shorts and no-show socks. We will add 15 percent to the overall category.”
“Going forward, our main focus area will be MBO and e-commerce. Also, we are adding new categories in Loungewear like boxers and thermals to acquire at least 2 percent market share by 2021,” he added.
The brand currently has 70 exclusive stores in India and 30 overseas in markets like West Asia, Nepal, and Sri Lanka. Park Avenue is looking to take the overall number of its exclusive brand outlets to 200 by 2020.
Park Avenue will be entering the Middle East market with a store in Sharjah in UAE this November. The brand is also looking to enter south and east African markets for growth as it aims to generate 10 percent revenue to topline from international markets.

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