Underdressing by Park Avenue
Company: Raymond Apparel Ltd. | Year of launch: 2012
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.
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.
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.
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.