Published
Nov 16, 2017
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Raymond Group launches One Park Avenue, targets "exponential growth"

Published
Nov 16, 2017

The suiting textiles and clothing brand Raymond Group have launched One Park Avenue, a range of grooming products for their Park Avenue brand. The company aims to double its turnover in the coming years.

Raymond is launching One Park Avenue, a range of male grooming products - Raymond- Facebook


Raymond Group recently announced their goal of doubling their turnover to 1,000 crore rupees (approximately 150 million dollars) over the next three to four years. In order to achieve this, they are rolling out a number of innovations and one of these is the addition of the One Park Avenue line to their Park Avenue brand. The new line will start by selling a range of men’s fragrances and branding will be blue, white, and black. The new line will retail across Park Avenue stores and the brand will also pursue international markets.

“Changing customer preferences, improved lifestyles, and growing consciousness among male consumers, presents us with huge opportunities in the FMCG [fast moving consumer goods] space. After the acquisition of Ansell’s stake earlier this year, One Park Avenue is yet another significant step that will strengthen our FMCG play both nationally and internationally, which is an important driver for value creation for the Raymond group and an integral part of the Raymond Re-Imagined journey,” said Gautam Hari Singhania, the Chairman and Managing Director of Raymond. “We are entering a whole transformation phase with the FMCG sector,” he added.

“At Raymond we are leveraging synergies across our FMCG business to create a strong and monolithic FMCG play in our core categories. Simultaneously we are also utilising cross organisational expertise to bring in efficiencies and cost optimisation to help us invest more aggressively towards newer initiative[s] such as ‘One Park Avenue’. The idea of One Park Avenue is built on unique consumer insights backed by strong innovation that will drive consume acquisition and enhance consumer relevance for our lead brand Park Avenue,” said Giriraj Bagri, the CEO of FMCG Business for Raymond. “Going forward, we hope to clock exponential growth.”

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