With over 60% market share in India, Raymond Ltd. is one of the largest integrated manufacturers of worsted fabric in the world. The company comprises the following divisions such as Textiles, Engineering and Aviation.
Newsbarons provides you the highlights of a media interaction, where Raymond Ltd. chairman Gautam Singhania stated “The combined FMCG revenue between the two companies is INR 500 crore at present.”
NB: Brief us about the launch of One Park Avenue?
Gautam Singhania: We have announced the launch of ‘One Park Avenue‘, a customer facing initiative for Park Avenue’s range of men’s grooming products.
One Park Avenue will entail a distinct brand, product and an aggressive Go-to-market strategy. One Park Avenue is being led through the introduction of a new range of fine fragrances and the new positioning statement, “Unleash your X factor”.
NB: What are the opportunities do you see in FMCG space?
Gautam Singhania: Changing customer preferences, improved lifestyles and growing consciousness among male consumers present us with huge opportunities in the FMCG space.
After the acquisition of Ansell’s stake earlier this year, One Park Avenue is yet another significant step that will strengthen our FMCG play both nationally and internationally, which is an important driver for value creation for the Raymond group and an integral part of the Raymond Re-Imagined journey. We will be focusing more on FMCG business.
Under the One Park Avenue initiative, the brand will have synergies in terms of a Unified Visual Identity, repositioning itself with a wider grooming portfolio, premium international packaging and innovative products.
The brand will soon make its way to international markets such as the Middle-East, Bangladesh and Nepal.
Raymond’s FMCG business currently has a strong retail presence through 0.25mn retail outlets.
NB: What is your FMCG revenue target over the next 3-4 years?
Gautam Singhania: We are eyeing a FMCG revenue of INR 1,000 crore by 2020. The combined FMCG revenue between the two companies, at present, is Rs 500 crore.
NB: What is the size of domestic men’s grooming industry?
Gautam Singhania: The domestic men’s grooming industry is estimated to be INR 5,000 crore and will be launching new products in the category.