India’s Own Fabrics: Raymond
Raymond Ltd is an Indian brand famous for its classic fabrics and suits was incorporated in 1925 by George M. Raymond. Lala Kailashpat Singhania arrived in Bombay to expand the business of his father Lala Kamlapat Singhania in 1942 and took over the Raymond Woolen Mills Ltd in 1944.
Now Raymond is the leading textile company of India and the company also exports to over 55 countries that include USA, Canada, Europe, Japan and Middle East. The brands of Raymond are Park Avenue, Color Plus, Raymond ready to wear, Parx, Ethnix, Raymond home and Raymond made to measures.
Early Years
The journey of Raymond in true sense started after the independence of India. In a quest to become self-reliant, production of indigenous engineering files commenced at the manufacturing unit JK files in 1950.
Lala Kailashpat brought his nephew Gopal Krishna in the Company in 1952. Gopal Krishna was a visionary man who completely modernized the mill and started the company’s first retail store in 1958.
In 1959 Raymond was the first to introduce pollywool blend in India to create world finest suiting fabric the super 240s made from the superfine 11.6 micron wool.
The year 1960s earmarked total replacement of machineries with sophisticated machinery and since then modernization has become way of life at Raymond. Raymond was also the first company to import the modern machines available at that time.
Growth and Success Over the years
Considering the weather of India, Raymond launched Trovine- a first of its kind cool and comfortable fabric ideal for Indian summer in 1967. The fabric became demand of the town in no time.
Raymond was growing but the speed of the growth was slow. Up to 1980s, company only focused on making fabric. Raymond had no idea how to brand its fabric.
In 1980, Dr Vijaypat Singhania, the son of Lala Kailashpat Singhania took over the reins as the chairman of Raymond. An AMP Alumnus from Harvard and a high filer in sprit and deeds, it was under his leadership company achieved tremendous heights.
The company launched its first lifestyle brand in 1986 named Park Avenue.
India’s premium lifestyle brand Park Avenue provides stylish and innovative wardrobe solution to well-dressed gentlemen. Park Avenue got success not only in India but also in foreign countries.
A lot of its success is due to top fabric made by the company and also marketing campaign which not only focus on India but also to other international markets.
The company manufactured Denim in 1996; focusing on quality, innovation, and the creation of exclusive products and designs.
Denim caught the eyes of some of the world’s leading jeans wear brands as well as making it amongst the top producer of specialty ring denim in India with 60% market share.
After making formal wears for years, Raymond decided to launch its own premium causal wear brand Parx to offer customer wide range of semi-formal and casual clothes.
Gautam Singhania, son of Vijaypat Singhania took over the company in 2000. He had to face many challenges when he took over Raymond Group.
Raymond group was not only limited to textiles, its business was diversified into cement, steel, condom etc. When he took over the company other business of Company i.e. cement and steel were simultaneously running under huge debt affecting the major apparel business.
He decided to shut down unwanted and unrelated business of the group and shift the focus towards textiles and apparels. All other business plants were sold to various other companies like cement plant was sold to Lafarge, synthetic business to Reliance Industries and much more.
They raised around Rs. 1550-1600 crores by selling cement and steel company and cleared all debts, thus reinvesting the money. From then, the brand Raymond gained its glory back. Gautam Singhania proved to be a true heir to the family and business.
Present Situation
Established in Pre Independence when Indian was ruled by British people to ruling the suiting market around the globe, Raymond has come a long way.
Raymond Ltd is India’s biggest woolen fabric makers. It controls over 60% market of suiting in India.
It has more than 20,000 design and colors of suiting fabric which makes it one of largest collection of designs and colors by single company.
It was listed as India’s most trusted apparel brand by The Brand Trust Report in 2015. The revenue of the company stands at $800 million and the company exports its product to 55 different countries.
