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| Parx in search of makeover |
| Preeti Khicha / Bangalore Oct 24, 2011, 00:27 IST |
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The Raymond Apparel brand is trying hard, but creating a strong brand perception won’t be easy.
Parx, the fastest-growing brand in the Raymond Apparel stable, is launching a new retail format. The initiative is part of Raymond’s attempt to reinvigorate the ‘beyond work’ casual wear brand and make it relevant among youth in urban pockets and metros.
While the brand has been growing close to 40 per cent in the last two years, sales numbers for Parx indicate growth has been coming from mostly multi-brand Raymond stores in Tier 1 and Tier 2 markets. The area where the brand has taken a beating is in the metros, where international brands like Jack and Jones, Tommy Hilfiger and Nautica are challenging Parx’s image. Indian brands like Arrow (Arvind Brands), Kruger (S Kumars) and Allen Solly (Madura Fashion and Lifestyle) too have been turning up the heat in the Rs 7,200 crore men's casual ready-to-wear market (overall men's ready to wear is Rs 24,000).
Industry experts claim Parx is hardly an aspirational brand today. A major shortcoming for Parx, compared to rivals was that it did not offer a complete wardrobe experience, which means it focused on selling ‘casual shirts and trousers’, while others did occasion-wear selling, like club wear or evening wear.
So, the product portfolio went through a change a few months back to include styles and fits which are contemporary, like slim fit and muscle fit designs. “Besides club wear and sports, the brand wants to have a bigger play in jeans. “We will launch an extensive line of ‘Parx jeans’ early next year,” says Shreyas Joshi, president, Raymond Apparel. And Parx is hoping that a refreshed product mix will appeal to youth in the age group of 25-35 years. To create a distinctive identity, a few months ago, the brand unveiled a “new symbol” – the racing stag, which will feature on all garments. This is a strategy adopted by brands like Ralph Lauren (uses horse) and Abercrombie and Fitch (uses deer) in the US, where symbols alone drive brand appeal.
The upcoming stores in Mumbai, Pune and Chandigarh will be image drivers for the brand. “Designed like a home, the foyer and hallway will display ‘core offerings’ like shirts and trousers, the den will showcase club wear, and the lounge will house denims,” says Sanjay Agarwal, founder, Future Research Design Company. Product display and merchandising will receive greater attention. Raymond is spending Rs 2500-3000 per square feet on the new design. The existing 22 exclusive brand outlets (EBOs) will gradually be transformed to the new design.
To enhance the retail experience, the brand is placing ‘tweet mirrors’ in the fitting room, which will allow consumers to share images with friends and family while trying on an outfit. Experts say this will add up as a clever way for the Parx brand to build its database of customers.
The focus on exclusive brand outlets (EBOs) will allow Parx to reduce its dependence on sales through multi-brand Raymond stores. For the Rs 185 crore brand (third largest in the Raymond Apparel portfolio, after Park Avenue and ColorPlus), EBOs bring in only 10 percent of sales, while multi-brand outlets and Raymond stores bring in 30 percent and 60 percent respectively. With the new strategy, Joshi aims to change this. The brand wants to increase the footprint of its EBOs which currently dominates the NCR (national capital region), to the Western region.
Retail experience apart, the company is also counting on communication to give the brand image a makeover. “This is the first time we are launching a television commercial for Parx,” says an excited Joshi.
Yet industry observers point out creating a strong brand perception is not going to be easy. As the head of an apparel brand who does not wish to be named explains, “Building a brand identity is not just about a new retail design or communication. It requires a complete retail eco-system which includes a sharply differentiated product and a retail culture, rather than a textile mill mindset.”
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