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India as a diverse land has a lot of colorful trends when it comes to textiles and apparel. Of course, the collapse of all hype at the dawn of the twentieth century brought a more sensible environment and a more solid view of the fashion industry.
As far as we know, the Indian Textile industry is a significant contributor to the country's economy. The industry is providing one of the most fundamental needs of the community and has importance; preserving ongoing development for raising the quality of life. It has established itself as a self-sufficient industry that adds value at every stage of the supply chain right from the production of raw materials to the delivery of finished goods.
Raymond - Company Highlights
- Headquarters-Thane, India
- Sector-Textiles, Engineering, Aviation & Real estate
- Key people-Gautam Vijaypat Singhania (Chairman)
- Revenue-$6.2 Billion (2022)
Raymond - About
Incorporated in 1925, the Raymond Group is a diversified organization with most of its business activities in the textile and apparel industries. It also operates in a number of other industries, including FMCG, Real Estate, Engineering, and Prophylactics, in both domestic and foreign markets.
With the support of more than a billion customers, Raymond is renowned for providing its customers with top-notch products for the previous nine decades.
The company is the owner of clothing brands including Raymond, Raymond Premium Apparel, Raymond Made to Measure, Ethnix, Park Avenue, Park Avenue Woman, ColorPlus, Kamasutra, and Parx. All of the brands are sold through "The Raymond Shop" (TRS), which has a network of more than 700 retail locations in India and abroad in more than 200 cities. The brand also has its presence in tier IV & V cities.
Woolen textiles, Cotton, Wool blends, Linen, and Denim are just a few of the luxurious shirting and suiting fabrics that Raymond has to offer.
After entering the clothing, textile, and sexual wellness segment, in 1949, Raymond Ltd. made a foray into the engineering industry. With a market share of more than 25% of worldwide steel file production capacity in 2020 and a presence in more than 55 countries, JK Files and Engineering Ltd. holds the top spot as the industry leader. It was 2019 that saw the announcement of Raymond's entry into the real estate industry as Raymond Realty with the theme of 'Go Beyond'. The new business would invest 250 crores (about $36 million) to create mid-range and luxury housing units on 20 acres of land in Thane, a rising suburb of Mumbai.
Raymond has also strived to do something for society. 'Beyond business', is Raymond's humanitarian activities that are designed to foster inclusive growth for the socially underprivileged.
JK Trust Gram Vikas Yojana - improve the quality of life in rural areas through a Cattle Breed Improvement Programme (CBIP)
JK Bovagenix - On July 20, 2016, a groundbreaking breeding program using in-vitro fertilization to produce selected indigenous cattle breeds went into effect.
Skilled Tailoring Insititute - to train unemployed women
Raymond Tailoring Hubs for skill development - located in Mumbai, Delhi, Bihta, Jamshedpur, Jaipur, Nashik, Villupuram, Ranchi, and Bengaluru.
Raymond - Industry
As mentioned earlier, the Indian Textile industry contributes a major chunk to the country's economy. This sector is also one of the oldest industries in the Indian economy. It is reported that the Indian textiles market is expected to be worth more than $209 billion by 2029.
Raymond - Leadership
Gautam Vijaypat Singhania is the Managing director and Chairman of the Raymond Group.
Gautam Vijaypat Singhania
Born to an industrialist family, whose parents are Vijaypat Singhania and Ashabai Singhania, Gautam Vijaypat Singhania is the Chairman and Managing Director of the Raymond Group. He attended Cathedral and John Connon Schools as well as St. Mary's School in Mumbai. In 1986, Gautam Singhania joined the JK Group of businesses owned by the Singhania family. Later, he joined the Raymond Group, where he rose through the ranks to become chairman in September 2000, and managing director in July 1999.
Nawaz Modi Singhania, a Parsi, is the spouse of Gautam Singhania. They have a daughter called Niharika.
According to a family agreement, Gautam Singhania has been given a 27% share of the business. A few years after taking over, he turned the business around and made it become a big success.
Raymond - Mission and Vision
Raymond likes to do business with one vision, that is, "Trust, Quality, and Excellence"
Raymond - Name, Logo, and Tagline
As we all are aware, the tagline of Raymond is, "The Complete Man"
The brand name was derived from Albert Raymond and Abraham Jacob Raymond, who were members of the Board of Directors of a Jewish industrialist company during the 1920s known as E.D Sassoon and Co. Formerly it was known as 'The Raymond Woollen Mills" and then it was changed to just 'Raymond'.
Raymond - Startup Story
The story of the world's largest producer of suiting fabric, Raymond goes back to the year 1925. An elderly man by the name of Wadia had the foresight to establish a modest woolen mill in the backward region of Thane, Maharashtra, spurred on by the burgeoning need for apparel for soldiers in the Indian Defense Force. However, Wadia couldn't manage the woolen mill and it was taken over by E.D Sassoon and Co. It was them, who renamed the company, 'The Raymond Woollen Mills'
After some years, in 1944, Lala Kailashpat Singhania took over Raymond when he saw the potential in the brand for the coming future. His family, the Singhanias moved to Farrukhabad from the little village of Singhana in Shekhawati, one of the desert towns of northeast Rajasthan, in search of better opportunities. They had their own company called JK Cotton Spinning & Weaving mills Co., wherein they produced high-quality cotton clothes using only Indian raw materials, labor, and other methods to compete against England.
Post-independence, Kailashpat took Raymond to newer heights and put up a new manufacturing unit JK Files in 1950 to manufacture indigenous engineering files. In 1958, Raymond opened its first exclusive showroom in King's corner, Ballard Estate in Mumbai.
In 1986, Park Avenue was launched by Raymond, a collection of stylish wardrobes for men.
Raymond opened its first international showroom in Oman in 1990. After one year, the brand launched a premium condom brand called, 'Kamasutra'. With the founding of Raymond Aviation in 1996, the group entered the aviation industry. Corporate travelers in India can use the air charter services offered by Raymond Aviation.
In order to provide customers with a variety of semi-formal and casual clothing, the luxury casual wear brand Parx was introduced in 1999. 2008 saw the introduction of ready-to-wear clothing under the Raymond brand, which is currently known as Raymond Ready to Wear.
In 2016, the company launched a kind of fabric, which the company referred to as the Smartest fabric in the World - it was known as Technosmart. In the same year, Raymond opened a new office in Dubai. With 900 outlets in 500+ Indian towns and cities as of 2018, Raymond had experienced its fastest-ever retail expansion.
To combat COVID, Raymond came up with 'Virasafe', a highly effective anti-viral fabric. To produce PPE suits during the outbreak, the brand converted its garment plants.
Raymond - Business model
Raymond's business involves a number of business models because it deals with several types of business including real estate and aviation. However, it does have a B2B business model as it manufactures one of the finest cotton and pure linen fabrics.
Here's taking a look at the various businesses by Raymond Group:
It is commendable that in India, the woolen suiting fabric industry is dominated by Raymond, one of the largest vertically and horizontally merged producers of worsted suiting fabric in the world, with a market share of over 60%. This business has manufacturing plants at Vapi (Gujarat), Chhindwara (Madhya Pradesh), and Jalgaon (Maharashtra) with a manufacturing capacity of 38 million meters.
Raymond has three wholly-owned subsidiaries - Silver Spark Apparel Ltd (Suits), EverBlue Apparel Ltd. (Jeanswear), and Celebrations Apparel Ltd. (Shirts) for its garment business. The only Indian company having the know-how to create Full Canvas Suits is Silver Spark Apparel Ltd. The company's products such as jeans, trousers, shirts, and suits are all exported to the USA, Europe, and Japan.
Raymond is also engaged in the manufacturing of shirt fabrics, which are very renowned and the finest in India. At its advanced manufacturing facility in Kolhapur (Maharashtra), the operation has a capacity of 26 million meters and manufactures bottom-weight textiles and high-end cotton and linen shirts for well-known national and international brands.
Raymond opened its first-ever retail showroom in Mumbai at King's Corner in 1958. Since 1958, the brand has been expanding aggressively with its various collections. Its retail presence makes up for the brand's success. With over 2 million square feet of retail space split throughout its 1100+ locations in more than 380+ cities and towns, Raymond now has an unstoppable retail presence and is steadily expanding.
The brand has a portfolio of four Power Brands, including Raymond Ready-to-Wear, Park Avenue, Color Plus, and Parx, which makes them currently as of one of the top three branded clothing players in the menswear market.
Across all channels, including 257 Exclusive Brand Outlets (EBOs), 3,300 Multi Brand Outlets (MBOs) (via distributor network), 800 Large Format Store (LFS) chains, and top internet portals, there has been a tremendous increase in recent years.
Raymond created raymondnext.com, a one-stop fashion shop for all the brands under the Raymond umbrella, as its entry into the e-commerce market.
One of the first companies to introduce specialty ring denim in India is Raymond UCO Denim (a joint venture with UCO NV of Europe). Along with serving domestic markets, the company also serves consumers in the Americas, Europe, and Asia. The company has fabric manufacturing plants in Yavatmal, Maharashtra, and Sibiu, Romania, with a combined annual production capacity of 47 million meters. Raymond UCO Denim satisfies the expanding expectations of fashion-conscious consumers and has earned the recognition of top brands in both home and foreign markets.
Tools & Hardware Business
The company entered into the tools and hardware business in 1949. This industry sector is involved in the production, marketing, and distribution of hand tools, power tool machines, and accessories for power tool machines as well as the sale and distribution of precision-engineered parts for tools and hardware like steel files and drills. As of 2020, JK Files and Engineering Ltd. had the largest installed steel file manufacturing capacity, accounting for nearly 25% of the global capacity. JK Files & Engineering Ltd. boasts state-of-the-art production facilities in India that are ISO 9000-2008 certified and have a robust manufacturing capacity of 7.44 million dozen files and 13.2 million pieces of drills annually. Raymond has a market share of more than 60% by sales volume in Fiscal 2021 and is also the market leader in India's files segment. It is also well-represented in Latin America, Asia, and Africa.
Raymond is involved in the manufacturing of consumer goods through its associate company called, Raymond Consumer Care Private Limited. Raymond is steadily growing its presence in the category with leading brands like Park Avenue and KamaSutra in the market today.
By acquiring a controlling interest in Ring Plus Aqua Ltd, a renowned Ring Gear & Flexplate manufacturer in India, Raymond entered the automotive components market. Ring Plus Aqua Ltd., a 1984 incorporation, has a close relationship with the global automotive industry thanks to its manufacturing facility for ring gears, water pump bearings, and flexplates.
Through its warehouses in Canada, the United States, and Germany, Ring Plus Aqua Ltd. also meets the JIT (Just-in-time) needs of its clients. Around 8.2 million Ring Gears, 3.9 million Water Pump Bearings, and 0.62 million Flexplates can each be produced annually by Ring Plus Aqua Ltd.
Real Estate Business
With Raymond Realty, the company entered into the Real Estate space. Each project under Raymond Realty is built on the tenet of "Go Beyond" and attempts to redefine every customer's expectation. The company has an exclusive website for its realty business - www.raymondrealty.in
Some of the popular brands and services by Raymond Group are:
- Raymond Fine Fabrics
- Park Avenue
- The Raymond Shop
- Raymond Custom Tailoring
Raymond - Revenue Model
Raymond's revenue for the fiscal year 2022 was Rs 50,000 crores. The largest contributors to the company's revenue were branded clothing and textiles. However, the exact figures haven't been published. In the fiscal year 2021, Raymond India reported revenue of more than 36 billion Indian rupees.
Raymond - Challenges Faced
As the company is mostly in the manufacturing space of finest fabrics and gets its revenue majorly from the textile business, it fears that the millennials might move away from the concept of textiles and fabrics. Today's youth are focused on buying ready-made garments and don't wish to invest in textiles or buy fabrics.
This is one of the biggest challenges the brand is facing and to keep up with the trends, it needs to come up with innovations to maintain its legacy.
Raymond - Mergers and Acquisitions
Raymond acquired J. K. Ansell Ltd on Aug 17, 2017. The rest of the details are undisclosed.
Raymond - Online and Social Media Presence
Raymond has a powerful online and social media presence. The brand has pages on almost all popular social media platforms.
Raymond - Advertisements and Social Media Campaigns
Time and again, Raymond has always come up with the best and heart-touching campaigns throughout its 90-plus years of journey. With its motto, 'The Complete Man' - Raymond has always shown the characters of a well-read man, a perfect father, an honest friend, and an obedient son, which highlights the true emotions a man can have in him. While the list of campaigns made by Raymond is long, the most recent one is Raymond's Look Good Feel Good campaign.
This campaign was launched in June, where the brand highlights the joy of giving your old clothes. The campaign is done in association with Goonj, a non-profit organization that undertakes humanitarian aid. The brand asks its viewers to donate clothes and in exchange for their old garments, they will receive free trouser stitching from July 1st onwards.
Raymond - Awards and Achievements
Here's showing the list of all the major awards won by Raymond:
- Raymond 'The Complete Man' TV commercial (husband-baby) won the "National Laadli Media & Advertising Award for Gender Sensitivity 2013-14"
- Raymond has been placed at the top of the 'Textile and Garment' segment as the 'Most Admired Companies in India 2013' by Fortune magazine
- Park Avenue has won the Best Design Concept of the Year Award for Innovative AUTOFIT Concept at Images Fashion Awards 2015.
- Raymond has won the 'Best Retail Store Design for Fashion Apparel brand" for Raymond Ready-to-wear store, Viviana Mall, Thane from Visual Merchandising & Retail Design Awards 2015.
- Raymond has won the 'Best Window Display 2015" for the Colors Of Wool campaign from Visual Merchandising & Retail Design Awards 2015.
- ColorPlus awarded for 'Impactful Retail Design and Visual Merchandising' - Asia Retail Congress 2013
- EPC (Engineering Export Promotion Council) India "Export Excellence Award 2011-2012" for Hand Tools Exports in the category of Large Enterprise
- Park Avenue Beer Shampoo has won a bronze at the WARC Strategy Awards 2014.
- 11th Realty Plus Excellence Awards - WEST Mid Segment Project of the Year (2019)
- Hindustan Times Real Estate Titans Awards 2020
Which company owns Raymond?
Raymond group, a global conglomerate owns Raymond ltd.
Who is the Chairman of Raymond?
Gautam Hari Singhania is the chairman and MD of Raymond group.
How many brands does Raymond own?
Raymond owns 4 brands namely Park Avenue, Parx, Color Plus along with Raymond Ready to wear.
Who are its competitors of Raymond in India?
Raymond's competitors in India are Siyaram's & Grasim.