Textile major Raymond is hopeful of doubling sales from its ‘Raymond Homes’ category to Rs.150 crore by the end of the current fiscal, a top company executive has said.
After testing the waters for almost two years in the ‘home’ category, Raymond has decided to open 25 exclusive ‘Raymond Home’ stores this fiscal, Pankaj Saxena, business head, Raymond Home said. Sales from this category had touched Rs 75 crore last fiscal.
“These stores would be smaller in size as compared with the large-format Raymond stores, with an area of approximately 1,000 sq ft,” Saxena said.
The company has already rolled out five such stores through the franchise route and plans to expand further.
Raymond is one of the largest domestic manufacturers of blankets since 1929. It was in 2013 that the company expanded the full range of ‘Bed and Bathroom’ collection under the ‘Raymond Home’ tag to include quilts, comforters, bed sheets and towels, among others. Those were sold through over 2,000 MBOs, retailers like Shoppers Stop, HyperCity and Pantaloons, through shop-in-shop formats, exclusive Raymond stores and ecommerce platforms such as Flipkart, Snapdeal and Amazon.
The branded collection would continue to be available through all channels, but all 750 Raymond stores in the country will very soon have a corner dedicated to ‘Raymond Homes’, Saxena added.
