Raymond’s Be: makes a comeback

BANGALORE: Raymond Ltd has relaunched its popular Be: brand, choosing the home-furnishing segment for the comeback, and is making plans for a return of Be: apparel stores. The first Be: Home store was opened on Monday and 11 more will come up during this financial year, all in the mid-to-premium category.

���With this store, we are projecting the Raymond way of life; it is an extension of our lifestyle segment. We are present across various segments and fashion has transcended clothes to other aspects such as watches, cars and even homes,��� managing director Gautam Singhania said. Be: Home will focus on five main areas ��� bed-linen, bath and spa, dining, home decor and easy-wear. Raymond sees Be: Home, which is a separate business unit, becoming a Rs 100-crore division in the next three years, by when it aims to open 30 stores.

���We will look only at metros at present. We believe this kind of a format will succeed only in the big cities,��� President Robert Lobo said. Raymond launched Be: in 2001 as the first chain of outlets bringing designer apparel to the mass market. The company, however, withdrew the brand last year to relook its strategy.

Sources said plans to relaunch the apparel stores under the Be: brand are on the drawing board and it could happen soon. Unlike other retailers in home products segment, Raymond is eyeing bigger branded presence. Some 80% of the products in the stores will be under the Be: Home brand. Raymond will also take the distribution route to retail brand and sell some of the products through other multi-brand outlets.

Competition in the Rs 3,000-crore organised home furnishing market has grown manifold in the last few years, with retail biggies such as the Future Group and Shoppers Stop starting their own formats. There have been suggestions that other majors like Bombay Dyeing and Reliance Retail will also be foraying into the segment, whose growth has been boosted by the boom in home-buying.

���If one were to look at the figures and see how many luxury homes are being built in all the major cities, it would explain the need for stores like ours. Also, as home owners are getting younger, they want to experiment with their houses more often,��� Mr Lobo said.

Raymond, however, is not likely to see direct competition in home furnishings as most of the other players are present in the mid-segment. Although textile manufacturing continues to remain the Rs 2,500-crore company���s mainstay, Raymond is paying increasing attention to the fashion and lifestyle segment after it saw its branded apparel business grow by almost 46% last year, compared to a 26% growth in the textiles business.