Raymond enters kids' wear segment
Raymond Group to enter into the children's wear segment and will open up 12 stores over the next one year across key metro cities.Updated: Feb 13, 2006 18:18 IST
Raymond Group announced on Monday its entry into the children's wear segment and will open up 12 stores over the next one year across key metro cities.
The children wear brand, to be christened as "ZAPP," joins the Raymond Apparel Limited portfolio of brands with the first flagship Zapp store coming up at Mumbai by April 2006.
"The brand would cover children's apparels and their accessories and will be aimed at children between the age group 4 to 12 year," Raymond Limited Chairman and Managing Director Gautam Hari Singhania told the reporters.
The stores will outsource the merchandise in close association with the vendors and the merchandise will be designed by Raymond's in-house designers.
On investment, Singhania said "we are still working out the investment plans and whatever investments we plan would be to position the brand."
Company Group President Pradeep Bhandari said the Zapp stores will be large format flagship stores estimated around 3,000-4,000 square feet and will be managed by the company.
The initial investment planned by the company will be in store setting and brand promotion, he said.
The company plans to expand to further large formats and multibrand outlets, he said.
Of the total over Rs 7,000 crore kids wear market, Rs 500 crore is only in the organsied sector, he said adding the segment is bound to grow between 25-30 per cent in the coming years.