Park Avenue, the men’s wear brand of Raymond, launched a range of business wear for women.
Branded ‘Park Avenue Woman’, the range is targeted at the `working woman professional.` We expect a revenue of Rs 100-150 crore in the next two years from this brand, said Mr Gautam Hari Singhania, Chairman and Managing Director, Raymond Ltd. Park Avenue Woman will be retailed through an exclusive store each in Delhi, Bangalore and Mumbai over the next one year. Raymond will be investing around Rs 50 lakh in each store. The women’s western wear market in India is estimated at Rs 2,700 crore. The brand expects to capture around 15 per cent of the premium western formal wear market, which is growing at over 20 per cent annually, added Mr Singhania. Raymond recently introduced women’s wear in the ‘smart casual range’ under its ColorPlus collection earlier this month. The Raymond Group has, in its portfolio, brands such as Raymond as well as menswear brands such as Park Avenue, Parx, Manzoni and ColorPlus.