Raymond Franchise Business

Topics: Retailing, Franchising, Supermarket Pages: 6 (1841 words) Published: January 30, 2013
Years ago, when the Singhania family was building, consolidating and expanding its various businesses in Kanpur, one Mr. Wadia was in a similar manner setting up a small woollen mill in the area around Thane creek, 40 kms away from Bombay. The Sassoons, a well-known industrialist family of Bombay, soon acquired this mill and renamed it as The Raymond Woollen Mills. Around the same time, the Singhanias aimed to broaden their business horizons. The family's sharp business foresight led to the acquisition of The Raymond Woollen Mills. When the grandson of Lala Juggilal, Lala Kailashpat Singhania took over Raymond in 1944, the mill primarily made cheap and coarse woollen blankets, and modest quantities of low priced woollen Fabrics The vision and foresight of Mr. Kailashpat Singhania greatly helped in establishing the J.K. Group's presence in the western region. Under his able stewardship, Raymond embarked upon a gradual phase of technological upgradation and modernization; producing woollen Fabrics of a far superior quality. Under Mr. Gopalakrishna Singhania, the mill became a world-class factory and the Raymond brand became synonymous with fine quality woollen Fabrics When Dr. Vijaypat Singhania took over the reins of the company in 1980, he injected fresh vigour into Raymond, transforming it into a modern, industrial conglomerate. His son Mr. Gautam Hari Singhania, the present chairman and managing director has been instrumental in restructuring the group. With the divestment of its non-core businesses, the group has emerged stronger, with a more focused approach. Today, with a 33 million-meter capacity in wool & wool-blended fabrics, Raymond commands an over 60% market share in worsted suiting in India and ranks amongst the first three fully integrated manufacturers of worsted suiting in the world. We are perhaps the only company in the world to have a diverse product range of nearly 20,000 design and colours of suiting fabric to suit every age, occasion and style. We export these to over 50 countries, including USA, Canada, Europe, Japan and the Middle East. A 100% subsidiary of Raymond Ltd., Raymond Apparel Ltd. (RAL) ranks amongst India's largest and most respected apparel companies. We bring to our customers the best of fabric and style through some of the country's most prestigious brands- Raymond Finely Crafted Garments, Manzoni, Park Avenue, ColorPlus, Parx, Be: and Zapp! and Notting Hill. Even as the brand keeps evolving through its cuts, styles, apparels and collections, one thing has remained unchanged over time is the unrelenting pursuit of excellence!

Additional Details
Company Type: Public Company
Incorporated: 1925
Employees: 10,000
Sales: INR 173.07 billion ($5.8 billion) (2005)
Stock Exchanges: Mumbai London
Ticker Symbol: RYMDQ
NAIC: 313210 Broadwoven Fabric Mills; 315111 Sheer Hosiery Mills; 315191 Outerwear Knitting Mills

Key Dates
1925: Raymond Woollen Mill, a producer of woolen blankets, is incorporated to take over a wool mill in Thane, Maharashtra, India. 1944: J.K. Singhania Company and the Singhania family acquire Raymond and it begins expanding production into higher-grade wools and textiles. 1958: Raymond opens its first retail store, King's Corner (later Raymond Shops) in Bombay; a new wool blend, Terool, is introduced. 1968: The company introduces a new lightweight wool, Trovine. 1969: A clothing subsidiary, Raymond Apparel, is established. 1980: Vijayapat Singhania becomes head of the company and begins industrial diversification. 1985: The company launches the Park Avenue clothing brand.

1990: The first foreign Raymond shop opens in Oman.
1991: The company launches production of condoms through a subsidiary. 1995: Steel production begins.
1996: Condom production is merged into a joint venture with Ansell International. 1999: The company launches the Parx casualwear brand.
2000: Gautam Hari Singhania becomes head of the company and leads a restructuring to focus...
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