Un­der­dress­ing by Park Av­enue

Com­pany: Raymond Ap­parel Ltd. | Year of launch: 2012

Business of Fashion - - Contents -

Launched in 2012, Un­der­dress­ing, the innerwear sub-brand from Park Av­enue strength­ens the mother brand’s port­fo­lio as an aid to of­fer­ing a com­plete wardrobe so­lu­tion to its cus­tomers. The innerwear range for men caters to the needs in the medium and pre­mium seg­ment which is grow­ing at a CAGR of 22 per­cent.

Core fo­cus cus­tomers

Park Av­enue’s innerwear pri­mar­ily fo­cuses on the mother brand’s cus­tomers in or­der to give them a full wardrobe so­lu­tion. The con­sumers may be­long to tier -I and -II cities and are ma­jorly mid­dle and top man­age­ment per­son­nel look­ing for bet­ter qual­ity prod­ucts, style con­scious and brand sen­si­tive.

Prod­uct port­fo­lio

Park Av­enue of­fers a com­plete range of men’s innerwear port­fo­lio such as briefs, vests, trunks, socks, ther­mals, gym vests, track pants, lounge t-shirts, box­ers, etc. Merino wool ther­mals from Park Av­enue are su­per pre­mium and such qual­ity is of­fered by no one else in the coun­try. Innerwear from Park Av­enue is seg­re­gated in 3 cat­e­gories -- Core, Fash­ion and Sports. Core be­ing the most pre­mium cat­e­gory with offerings like seam­less briefs and vests. Fash­ion of­fers the most trend right colours. And, Sports pro­vide the best of the com­fort when it is re­quired the most in an ac­tive life.

Lat­est col­lec­tion and its theme

Park Av­enue innerwear is the first brand in the coun­try to of­fer mer­cer­ized briefs and trunks that pro­vide ex­tra soft­ness and com­fort.

Most in­no­va­tive prod­ucts in the col­lec­tion

In­no­va­tion be­ing the core pil­lar of the mother brand gets re­flected in the innerwear cat­e­gory too by of­fer­ing in­no­va­tive ser­vices and prod­uct offerings to both pri­mary and sec­ondary cus­tomers. Prod­uct in­no­va­tions like health socks and seam­less range of briefs and vests with bio-wash fin­ishes add tremen­dous value to the cat­e­gory.

New prod­uct range or cat­e­gory ex­pan­sion plans

The brand is ex­pand­ing its col­lec­tion of box­ers shorts and no-show socks, adding 15 per­cent to the over­all cat­e­gory.

Pri­mary mar­kets

The brand’s pri­mary busi­ness comes through MBOs, which con­trib­ute around 80 per­cent of the to­tal busi­ness. Its EBOs con­trib­ute around 15 per­cent and other chan­nels con­trib­ute the re­main­ing 5 per­cent to the busi­ness.

Re­tail pres­ence

Park Av­enue boasts of a wide dis­tri­bu­tion net­work with pres­ence in more than 700 ‘The Raymond Shops’, over 100 EBOs and more than 1,000 MBOs. The brand also en­joys its pres­ence in large for­mat stores such as Cen­tral.

Plans for ex­plor­ing new mar­kets in In­dia

Go­ing for­ward, the brand’s main fo­cus area would be MBOs and e-commerce to cater the pre­mium seg­ments of men’s innerwear. Also, it is adding new cat­e­gories in loungewear like box­ers and ther­mals to ac­quire 2 per­cent mar­ket share by 2021.

Progress through on­line re­tail

On­line is, cur­rently, con­tribut­ing 6 per­cent to the brand’s busi­ness and is likely to grow by 10 per­cent in the next 2 years.

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