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Raymond Apparel mulls adding watches, shoes to Manzoni brand

15-July-2004
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Raymond Apparel mulls adding watches, shoes to Manzoni brand

The Rs 250-crore Raymond Apparel Ltd is aiming at a 15 per cent topline growth this year with its brands, Park Avenue, Parx and Manzoni.

"This year, we plan to grow at a higher rate than what we have been growing for the past four-five years," said Mr Shreyas Joshi, Executive Director, Raymond Apparel Ltd.

In fact, unlike the previous year when its acquired brand, Color Plus, managed to register higher growth rate compared to the company's own brands, this year, Raymond is expecting to register a higher growth rate for Parx, Manzoni and Park Avenue brands.

"Unlike last year when Color Plus managed to grow faster than Raymond's own brands, we believe this year the growth rates will be different, with Parx, Park Avenue and Manzoni registering higher growth rates than Color Plus," said Mr Joshi.

Besides, the company is also looking at sourcing watches and shoes from Swiss companies for its high-profile lifestyle brand, Manzoni. "We are in the process of talking to European manufacturers for outsourcing products such as watches and shoes. These would come under the Manzoni brand," said Mr Joshi.

Manzoni is a super premium range of formal wear comprising shirts, suits, trousers, jackets, ties and leather accessories. It is positioned as a stylish Italian brand for the up-market, classy customer who is a trendsetter and an image leader.

The company is also on the lookout for new brands. "Having new brands is always under consideration and these would either be acquired or we could also create new one," said Mr Joshi.

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