PARX

Business of Fashion - - Brand Watch -

Parx is a men’s ca­sual wear brand orig­i­nat­ing from the house of Raymond. Started in the year 1999, the brand is now gain­ing mo­men­tum and has now be­come one amongst the fastest grow­ing men’s ca­sual wear brand in the coun­try. Parx op­er­ates through Raymond shops, multi brand stores, ex­clu­sive brand out­lets, large for­mat stores and e-com­merce por­tals.

Tar­get Group

Youth are the helm of Parx’s tar­get cus­tomers with its core au­di­ence be­ing in the age group of 25- 30 years. The brand tar­gets males who are aware of the lat­est trends, are trendy, con­fi­dent, fash­ion­able and brand driven. Parx of­fers af­ford­able fast fash­ion for a young, high spir­ited in­di­vid­ual who takes ini­tia­tives, wants some­thing bet­ter and is ready to face the fu­ture.

Prod­uct Bas­ket

Parx of­fers all day ca­sual wear so­lu­tions aimed for young au­di­ence. Shirts are the top sell­ing brick for the brand fol­lowed by knits, den­ims, trousers, etc. Denim wear con­trib­utes to about 10 per­cent of the over­all prod­uct cat­e­gory of the brand.

Top Sell­ing Prod­ucts

The top sell­ing denim col­lec­tions by Parx in­clude ranges like stay black which have high colour fast­ness, peach fin­ished den­ims which have a soft hand feel, slim ta­pered fit which are best sell­ing prod­ucts and most loved for their fits.

Up­com­ing Col­lec­tions

For the forth­com­ing sea­son, Parx has plans to launch its hy­brid den­ims, which are a mix of knit­ted and wo­ven den­ims.

Prod­uct Ex­pan­sion Plans

Denim is the fastest grow­ing cat­e­gory in the prod­uct mix of Parx and the brand ex­pects the mo­men­tum to con­tinue for the times to come. Parx is fo­cus­ing on ex­pand­ing its range and

is bank­ing on cap­i­tal­is­ing the lat­est tech­no­log­i­cal and style re­lated trends that mar­ket has to of­fer.

Re­tail Pres­ence

Parx has an ex­pan­sive pres­ence in Ut­tar Pradesh and West Ben­gal. The brand also re­tails through its TRS and MBO net­work in these states and is now fo­cus­ing on open­ing its EBOs across tier –II and -III cities in these states.

Top 5 Re­tail­ers

Cen­tral in 14 cities; Re­liance Trendz in 20 cities, Bin­dals in UP; Chun­mun in Delhi-NCR; Kalyan Silks in South In­dia and tier -II cities; Pothys in Tamil Nadu.

Re­tail Ex­pan­sion Plans

Parx in­tends to en­large its pres­ence across tier-II and –III mar­kets in In­dia. The brand also has plans to ex­pand its pres­ence via EBO or trade ex­pan­sion.

Online Pres­ence

The brand is present across all ma­jor re­tail­ers in the coun­try both ver­ti­cal and hor­i­zon­tal. Ad­di­tion­ally, Parx also re­tails through its own in-house e-com­merce por­tal, Ray­mond­next.com

Tech­nol­ogy De­ploy­ment

Tech­nol­ogy has helped in evolv­ing Parx’s denim cat­e­gory im­mensely. With in­no­va­tions brought on ta­ble by com­pa­nies like Ly­cra, Len­z­ing, etc., the cat­e­gory has evolved im­mensely. Laser tech­nol­ogy and sim­i­lar de­vel­op­ments has also helped in ways more than one.

Omni-Chan­nel Pres­ence

Parx is in pur­suit of de­vel­op­ing omni flow chan­nel by which it in­tends to con­nect the TRS, LFS, EBOs and online chan­nels and ser­vices for its cus­tomers.

BRAND UP­DATE

> Coun­try & city of brand ori­gin: Thane,

In­dia

> Year of brand launch: 1999

> To­tal num­ber of EBOs: 13

> To­tal num­ber of SISs: 139

> To­tal num­ber of MBOs: 410

> Num­ber of states present in: Pan

In­dia

> Num­ber of cities present in: 250

> To­tal re­tail space across EBOs & SISs:

36,747 sq.ft.

> Same store sales growth rate (in %

for EBOs): 10%

> Name of own online store: www.

ray­mond­next.com

> Share of sales from online: 5%

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