Raymond Presents a Lite Franchise Model for Smaller Towns Of India
Raymond’s is the top of the mind recall when someone talks about being a “Complete Man.” They have been able to create a very strong brand positioning in the minds of the consumer, that it has, till date not been taken over by any other textile honcho in this segment.
Raymond’s clothing franchise caters to all segments of the society from a common man to the crème of the society. Their range extends from fabrics to ready – to - wear clothes. Making them amongst the most sought-after men’s wear franchise opportunities in India.
Raymond has always been innovating in terms of stores or the clothing. They are now looking at smaller markets to make the same difference with more focus on tier IV and V cities, by coming with a concept called MINI TRS (The Raymond’s Shop) or asset lite Raymond shops. The business idea is to tap the still untapped rural markets which are of great potential, with the tagline of “Har Shehar Mein Raymond” (Raymond in Every City) by offering these opportunities of Raymond’s clothing franchise across small towns.
India has a strength of 1200+ cities and towns with a population exceeding 50,000 people. These towns have a market where exclusive brand stores can make a solid statement. Raymond’s has already tested the pitch in 400 towns out of 1200 and now want to test the rest. With this foray, they will be the best clothing franchise preferred for the city/towns in which they would set up shop.
They are going to achieve this by adopting the franchise model of expansion of men’s apparel business by approaching franchisees and considering a sustainable retail model which they can take and expand in the targeted market.
The MINI - TRS Concept
Raymond’s have understood that these towns are not meant for their usual large format stores to have an sq. ft. area of 2500 and require an investment of 2 Cr. Therefore they came up with a mini store format where the store has an sq. ft. area of 600-1200 and a minimized investment of about 40 Lakhs.
This model has also reduced the project time from 90 days to 45 days from the date of signing the franchise agreement and adopted modular designs. They have taken help of local entrepreneurs with integrated digital Omnichannel skill sets, for a better reach in that local area of business. It has resulted in a very fast growth of the MINI – TRS since they opened the first store on 25th March 2017 in Bitha, Bihar and have managed to open 105 stores till April 2018 and aim at opening 300 Mini TRS stores by 2019.
A Revamped Product Mix
These stores are to have 400+ SKUs for fabric and ready-to-wear merchandise in the stores with an in-house tailor for customization of the clothing. Raymond’s has specifically created a new line of merchandise for these segments, keeping the prices in sync with the local market affordability. A digital interface has been set up for the consumers where they have direct access to their website for a wide variety of options to choose from.
Network of Distribution
Raymond has a very good distribution network that caters to 5000 + multi-brand outlets, through direct, distributor and wholesale channel. With the help of direct and indirect channel of distribution, they have been able to achieve faster turnaround time with the right product mix and have a better reach in the local market.
Raymond and Franchise Support
Raymond’s believes that the key to the franchisees' success lies in the fact of having regular engagement and training programmes, which is related to modern subjects like – product training, CRM, visual merchandising and operations. They also pay greater attention to constant changes in the consumer’s preference and requirement. They also are in constant touch with the franchise partners and try to understand the local market there. The Area Manager of the franchisee is responsible for creating and implementing a marketing plan for each outlet which is in tune with the local festival. Every city/market has its own marketing plan that which suits the city and has an impact.
The total franchise revenue of Raymond’s last year was 1,800 Cr. and is growing at 8% year on year, and this will increase once the MINI-TRS start contributing to the complete revenue.
Franchises are becoming the most popular way of expanding your business. Entrepreneurs today have the option of investing in these top business opportunities. For Raymond Franchise Contact number and several other cloth franchises in India visit www.franchisebazar.com.
Written By: Resham Daswani
Written By: Nitika Jindal
Written By: Resham Daswani
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