‘THE RAYMONDS MAN’- A CASE STUDY

Objectives The case examines the marketing strategies (including advertising, positioning, distribution and promotion) adopted by Indian textile major Raymond Ltd. for its flagship fabric brand Raymonds and its ready-to-wear men's wear brands Park Avenue and Parx. This case provides a detailed account of the company's brand-building strategies and the role of advertising in making a brand successful. It also examines the initiatives taken by the company to retain its market position in the early 2000s in light of the declining growth in the fabric market and increased competition in the ready-to-wear men's wear segment. The case explores the results and effectiveness of the changed marketing strategies. It examines the strategies employed by Raymond to establish itself as a major player in the ready-to-wear men's wear segment

Additional background/data Raymond's was one of the first companies in the Indian textile industry to use advertising in a major way to promote its products. The company's advertising efforts began way back in the 1970s, with Raymond being advertised as 'a guide to the well-dressed male’. Diagnosis In the early 21st century, Raymond was undergoing a difficult phase as some of its diversification efforts had not been very successful. To minimize the damages, Raymond undertook restructuring exercise. As a part of its restructuring exercise, Raymond decided to increase its focus on its textile and apparel business and discontinue from unrelated businesses. Commenting on the decision to increase the focus on the textile business, Nabankur Gupta (Gupta), Group President, Raymond, said, "To promote our textile range, our focus will be on fashion and textiles.”

Analysis Raymond did not rely only on its advertising, to establish its brand in the Indian market, but focused extensively on distribution aspects as well. Raymond's fabrics were retailed through a chain of exclusive showrooms spread all over the country.

In mid-2002, while Park Avenue led the readymade men's wear market and was the largest selling office wear and party wear brand in India, Parx was the leading brand in the men's leisure wear segment. The flagship brand, Raymond continued to reign the market. However, industry observers commented that the company had not exploited the market's potential to the fullest. They said that despite its strong financial muscle, Raymond had been slow in establishing an adequate apparel distribution network.

Conclusion and recommendations Raymond should strengthen their distribution system (including getting into more tie-ups and partnerships with exclusive retail stores such as lifestyle, Shoppers Stop etc. especially for new lines Raymond have to make the TG aware of some of its exclusive brand such as Be and Manzoni. Not enough is being done to promote the newer lines.