Case Study of Raymond

Type ~ Private

Sector ~ Financial Services

Founder ~ Rupesh Kumar, Anurag Sinha, Vibhav Hathi

Founded ~ 2019

Parent Organisation ~ FPL Technologies

Website ~ getonecard.app

Regarding textiles and clothing, India, a multicultural nation, has a variety of dynamic trends. However, it naturally follows that once all the enthusiasm faded away at the beginning of the 20th century, the clothing business was viewed more realistically.

To our knowledge, the textile sector contributes to the Indian economy. Among the most basic needs of the community is being provided by this sector, which is critical in ensuring continued growth to improve life quality. It has developed its position as an identity business, creating value at every chain level, from resource production to product distribution.

The Raymond Group, a various business owned in 1925, mainly focuses on the textile and clothing industries for its business operations. However, it also operates in several other areas, such as FMCG, Real Estate, Engineering, and Prophylactics, in both international and domestic markets. Raymond has been known for providing leading goods to its customers for the last few years, with the support of over a billion customers.

Among Raymond's opulent selection of shirting and suiting materials are Woolen textiles, Cotton, Wool blends, Linen, and Denim.

In 1949, Raymond Ltd. ventured into the engineering sector after making inroads into the garment, textile, and sexual health industries. On 20 acres of land in Thane, a developing suburb of Mumbai, the new company will spend $36 million to build mid-range and luxury housing units.

Industry

The Indian textile sector, as previously indicated, makes a significant economic contribution to the nation. In the Indian economy, this industry is also among the oldest. According to some reports, the Indian textile sector is predicted to reach over $210 billion by 2029.

Mission and Vision

Raymond's business dealings motto is "INTEGRITY, QUALITY, CONTINUOUS IMPROVEMENT, TRUST."

Business model

Because Raymond's company operates in various industries, such as real estate and aviation, it uses a variety of business models. However, because it creates some of the best cotton and pure linen textiles, it has a B2B business strategy.

Looking at the numerous companies owned by Raymond Group, here are some examples:

Suit Business

One of the leading continuously and parallel to the ground integrated manufacturers of woollen suiting fabric in the world, has a share of the market of over 60% in India's woollen suiting textile industry. With such a 38 million metre manufacturing capacity, this business has manufacturing in Gujarat, Madhya Pradesh, and Maharashtra.

Garment Business

Raymond owns three wholly-owned companies for its apparel business, namely Silver Spark Apparel Ltd, EverBlue Apparel Ltd, and Celebrations Apparel Ltd. Only Silver Spark Apparel Ltd. in India has the expertise needed to produce Full Canvas Suits. The company's goods, including jeans, pants, shirts, and suits, are exported to the United States, Europe, and Japan.

Shirt Business

Raymond also produces the best and most available shirt fabrics in India. The company has a capacity of 26 million metres and makes underside textiles and slightly elevated cotton and linen shirts for national and international brands at its efficient production facility in Maharashtra.

Retail Business

At King's Corner in Mumbai, Raymond debuted its first-ever retail showroom in 1958. The company has been rapidly growing since 1958 with its numerous lines. However, the brand's success is made up for by its retail presence. Raymond today has an irrepressible retail company and is continually increasing, with over 2 million square feet of retail space spread over 1100+ sites in over 380+ cities and towns.

The company has four Power Brands in its portfolio, which includes Raymond Ready-to-Wear, Park Avenue, Color Plus, and Parx, making it one of the top three branded clothing companies in the menswear industry. In addition, it's first in the e-commerce sector, Raymond launched raymondnext.com, just a clothing store for all Raymond brands.

Denim Business

Raymond UCO Denim, one of India's earliest denim manufacturers, was initially made available with speciality ring denim. The corporation furthermore serves consumers across the Americas, Europe, and Asia in addition to domestic markets. A total of 47 million metres of fabric may be produced annually at the company's textile factories in Yavatmal, Maharashtra, and Sibiu, Romania. The leading brands in domestic and international markets have acknowledged Raymond UCO Denim for meeting the rising demands of fashion-conscious consumers.

Tools & Hardware Business

In 1949, the company joined the hardware and tool industry. Precision-engineered parts for tools and hardware, such as steel files and drills, are sold and distributed by this industry sector, along with tooling and power equipment. As of 2020, JK Files and Engineering Ltd. possessed the best-installed steel file production capacity or around 25% of the total capacity globally. The Indian file market is dominated by Raymond, which has a market share of more than 60% in terms of sales volume for Fiscal 2021.

Revenue Model

The company Raymond made Rs 50,000 crores in sales in the fiscal year 2022. The business's most significant revenue sources were clothing and textiles with branded labels. However, the exact details are not yet available. Raymond India reported revenue of more than 36 billion Indian rupees for the previous quarter in 2021.