Raymond rebrands home textile products under 'Raymond Home'

The company is targeting Rs 300-cr sales from home furnishing products division in next three years

TTextile and apparel major Raymond has rebranded its bed and bath range of home furnishing products, which was launched in 2013, as Raymond Home to exploit the opportunities in the rapidly growing segment.

Raymond has already launched a print advertising campaign to promote the new brand. It now plans to open 28 exclusive brand outlets (EBOs) at select cities this year to expand reach, a senior company executive said.

Pankaj Saxena, deputy general manager (sales), Raymond, said that with sales of Rs 70 crore in FY15, the company is targeting Rs 100 crore in FY16 and Rs 300 crore by FY18. Raymond expects about 20 per cent of its annual sales to come from the e-commerce platforms like Jabong and Flipkart, among others.

He said Raymond Home will offer complete collection of bed sheets, pillow covers, comforters, blankets, bath robes, towels and exclusive wedding sets in a wide selection of colours and designs.

With sales of Rs 70 crore in FY15, Raymond Limited is targeting Rs 100 crore in FY16 and Rs 300 crore by FY18 once it completes expansion across the country. The company is targeting four different business modules for placement of home furnishing range. It wants to be present in the large format stores with shop-in-shop concept in major metros and B towns and opening of franchisee exclusive brand outlets and exclusive dealers all over the country. It also plans to reach out through its existing The Raymond Stores (TRS) in all Tier-II and Tier-III cities. Presently, its TRS network spans 800 outlets spread all over the country, Saxena said.

The distribution network will service vast home furnishing retailers pan India. The company has put in place a dedicated sales team under Saxena, who is heading the division. Raymond is currently test marketing its range of products at two of its EBOs in Kolkata and will open two more outlets in Bengaluru and Hyderabad very soon, he said.

Apart from physical stores under various formats, Raymond is also testing waters through e-commerce platforms like Jabong, Flipkart among others. It expects about 20 per cent of its annual sales to come from the E-commerce route. However, the company does not have any plans to start its own online sales platform at the moment, Saxena said.

Raymond Home also offers its customers the choice to mix and match to create a look that is unique or select from its range of theme inspired offerings, he added.