PROJECT

REPORT

ON
RAYMOND
 Group Companies
Incorporated in 1925, the Raymond Group is a Rs. 1400 crore plus conglomerate having
businesses in Textiles, Readymade Garments, Engineering Files & Tools, Prophylactics and
Toiletries.
The group is the leader in textiles, apparel, & files & tools in India and enjoys a pronounced
position in the international market. Raymond believes in Excellence, Quality and Leadership.
RaymondLtd.
Raymond Limited is India’s leading producer of worsted suiting fabric with a 60% market share.
Raymond Apparel Ltd. has three highly regarded menswear brands in its folio: Park
Avenue, Parx & Manzoni.
J.K. Ansell Ltd. is the manufacturer and marketer of KamaSutra brand of premium condoms.
J.K. Helene Curtis Ltd. is the marketers of the Park Avenue and Premium brands of men’s
toiletries.
ColorPlusFashionsPvt.Ltd.
Established in 1994 ColorPlus is one of the leading domestic brands for premium
casual wear in the country.

Incorporated in 1925, Raymond Limited has four divisions comprising of

Textiles, Denim, Engineering Files & Tools, Aviation and Designer Wear.
Raymond Textile is India's leading producer of worsted suiting fabric with over 60% market
share. With a capacity of 25 million meters of wool & wool-blended fabrics, Raymond Textiles is
the world’s third largest integrated manufacturer. The company exports its suitings to more than
50 countries including USA, Canada, Europe, Japan and the Middle East. Over the years,
Raymond Textile has developed strong in-house skills for research & development, which has
resulted in path-breaking new products. Perceived as pioneer and innovator, Raymond Textile
has been responsible for raising the standard of the Indian textiles industry.
The Denim division has an installed capacity of 16 million meters and produces high quality ring
denims. The company currently ranks among the top 3 producers in India. The products are
exported to over 30 countries in the world. The Engineering Files & Tools division, J K Files &
Tools, is the world’s largest producer of steel files with 90% market share in India and about
30% market share in the world. The Designer Wear division, Be: is an exclusive pret-a-porter
range that houses designs by some of the finest Indian designers. Be: offers an eclectic mix of
formal, office and evening wear for men and women, in western, ethnic and fusion styles with
accessories. The Aviation division, Million Air was launched in 1996 to provide air charter
services. Known for high quality and reliable services, Million Air has a fleet of three helicopters
and one executive jet.

Divisions

Textiles
Produces world-class pure wool, wool blended & polyester viscose fabrics and blankets and
ranks among the top 3 integrated producers in the world. Also produces a wide range of
furnishing fabrics.
Denim
The Denim division produces high quality ring denims and ranks among the top 3 producers in
India.
Files&Tools
Files & Tools division manufactures complete range of Engineer's steel files & drills and is the
world’s largest producer of steel files.
Be:
An exclusive prêt-a-porter line of ready-to-wear designer clothing for women and men in
western, ethnic and fusion styles.
Aviation
Million Air was launched in 1996 to provide air charter services and enjoys a reputation for high
quality reliable services.
Textiles
Recognised as the most respected Textile Company of India*, Raymond Limited is amongst the
first three fully integrated manufacturers of Worsted Suiting in the world. As the flag-bearer of
the multi-product, multi-divisional Raymond Group, it enjoys over 60% share of Indian Worsted
Suiting Market. It produces 25 million metres of high-value pure-wool, wool blended and
premium polyester viscose suiting in addition to half a million blankets and shawls, all marketed
under the flagship brand "Raymond" - a worldwide trusted name since 1925. It also produces and
markets plush-velvet furnishing fabric in wide array of designs and colours including carpeting
for the niche markets of India and Middle East.
Manufacturing facilities include three world-class fully integrated plants in India, employing
state-of-the-art technology from wool scouring to finishing stage and modern quality
management (ISO 9001) as well as Environment Control Systems (ISO 14001). All the plants are
self-sufficient in terms of providing educational, housing, recreation and spiritual support system
for the employees and connected townships.
Products are distributed through about 300 exclusive retail shops in India and surrounding
countries, 30,000 multi-brand retail outlets and over 100 wholesale distributors. In addition to
Middle East and SAARC countries, its products are sold to discerning customers in over 60
countries including premium fashion labels all over the world.
* Award conferred in January 2003 by "Business World"
For further information, please contact us at our Thane Office.

PhoneNo.+912225344181
Email: kdjoshi@raymondindia.com

Denim
At Raymond’s Denim Division, we’re somewhat passionate about denim. We think of how
denim can keep pace with changing fashion and we try to come up with better ways of making
plain blue denim. Call it what you want: obsession, commitment, and perfectionism. To us, it’s
very simple. We love what we do.

Raymond Denim, set up in 1996 produces 20 million meters of differentiated Ringspun denim
per annum. One of the world’s very few specialized manufacturers of fancy denims our focus is
on quality, innovation and enhanced creation of niche products that satisfy the needs of the
world’s leading Jeanswear brands. Within a short time, we have also made our presence felt in
the global market.

We have made our presence felt global market. A substantial percentage of our production is
exported to Europe, South East Asia and North America. Our buyers include trendsetters like
Levis, Pepe, Zara, Gap, Tommy Hilfiger, Lee Cooper and AZDA amongst others.

To ensure world-class quality, our production plant at Yvatamal uses the best equipment, systems
and practices:
1. Tensile and tear strengths are measured by tensorapid equipment.
2. Uster testing controls the evenness of all yarns.
3. Each & every bale of yarn is tested and passed through a double passage draw for
effective quality blending.
4. Marzoli ring spinning frames and open-end spinning are equipped with auto doffing
and auto bobbin transfer systems. Together with Caipo and Amsler devices we are able
to achieve the most creative character ring yarns available.
5. Indigo and sulphur dyeing is achieved on two slasher dye ranges.
6. Suker Muller & Masters slasher dye ranges support Picanol & Vamatex high speed
looms to produce 20 million metres per annum.
7. The Denim fabric is finished on the Cibitex range with micro processing to stabilise
shrinkage & skew. The stenter finish stabilises shrinkage & width for our stretch
products.
8. Testing and checking at every stage of the manufacturing process is routine.
9. Shade standards and consistency is maintained via the system of wash blankets tested
from every roll of fabric.
10. Our water treatment plant purifies and recycles all indigo effluent using reverse
osmosisystem enabling us to use all our water for land projects. The entire 105-acre site
has been designated as greenbelt status.
11. Creative denims are developed with specialist finishing, fancy yarn devices and other
equipment necessary to achieve world-class products.
12. Our onsite laundry facility enables us to experiment with creative finishing to
demonstrate the full potential of each individual denim fabric.

Files&Tools
J.K. Files & Tools, a division of Raymond Ltd. was started in 1950 with its plant at Thane in
Maharashtra, India. Today this division manufactures a complete range of Engineer’s steel files
besides HSS drills and HSS tool bits from its three plants located in Maharashtra and one in
Madhya Pradesh.

J.K. Files & Tools is the world's largest manufacturer of steel files with a predominant
market share the world. J.K. Files & Tools is also the largest producer of HSS Ground Flute
Twist Drills in India with HSS Cutting Tools being manufactured in Chiplun and Pithampur
(M.P.) plants. As part of backward integration, the division also operates a captive Hot Rolling
mill at Pithampur (M.P.) for catering to its raw material needs. All its plants are IS0 9001
certified and it boasts of an impressive R & D and in-house machine building facilities.
More than 50% of its production is exported to more than 50 countries, mainly to developed
markets like Europe & USA. For several decades the division has been regularly receiving the
Export Excellence Award.
In its more than 50 years of operations it has built up a strong goodwill and a wide network of
agents and dealers spread throughout the world.
Manufacturing Units:
Thane, Ratnagiri Chiplun in Maharashtra

Pithampur in Madhya Pradesh

Kolkatta in West Bengal
Surabaya in Indonesia
Products:
Files
 Saw Files
 Machinists' Files
 Rasp Files
 Needle Files
 Others
HSS Cutting Tools
 Drills
 Tool Bit
Contact Information For Buyers:

India (Domestic):
jkftsales@raymondindia.com

International (Exports):
jkftexport@raymondindia.com
Contact Information For Sellers:
jkftpurchase@raymondindia.com

Be:
There was a vision to make couture available to all who dreamt of it but could not afford it.
Raymond was cognisant of the fact that awareness levels for designer wear was increasing in the
country. The rise in demand for ‘value for money’ products and increasing fashion awareness has
seen the market for ready to wear increasing but it does not fulfill consumer aspirations of
owning the designer wear.
Understanding this need gap in the market an innovative venture was conceptualised by the
inimitable
textile giant, Raymond Limited. It was an ideal marriage of two parties, a Corporate with
strengths in marketing and retailing and the designers gifted with immense talent. Raymond
brought together some of the finest Indian designers to introduce a radical and an unheard of
concept, ‘Corporatisation of Designer Wear ’ with its Pret-a-porter brand Be: . Be: brings a
large collection of designer products to a large audience that is increasingly becoming aware of
designer wear and dreams of possessing one.

Affordability, Accessibility and Acceptability are the three attributes that characterise Be:

The first Be: store was inaugurated in New Delhi in July 2001 and today Be: has a multi city
presence with eight stores in India with two stores in New Delhi, and one each in Ludhiana,
Bangalore, Mumbai, Kolkata, Hyderabad and a shop in Pune. Be: also has an international
presence with a store in Dubai, UAE. The Be: chain will soon spread to all-important cities in
India and abroad.

Range- Be: offers a range of apparel and accessories for both men (32%) and women (72%).
Ladies wear comprises of Ladies Western Wear (60%), Ladies Ethnic Wear (30%) and Ladies
Accessories (8%) while Mens wear which offers wide range of Mens Westerns is the fastest-
growing category. Be: merchandise is focussed on specific target group making it more wearable
and acceptable to consumers.

The collection is an eclectic mix of formal office and eveningwear. The fabric ranges from knits
to wovens and cottons & linens to silk, with a spectrum of colours starting from earthy and aqua
tones to bright colours. The price range is equally exciting that starts as low as Rs. 600/- to a
maximum of Rs. 6000/-.

Accessories: Presently the Be: collection consists of designer bags for women, belts inspired by
traditional Indian artistry, designer shoes by Rinaldi . It also houses exclusive designer jewellery
under the Be: in house label.

Designer Gallery
Product Profile
Be: Stores

Aviation

Raymond diversified into Aviation launching the air taxi service – Million Air with a fleet of
three helicopters and Fixed Wing Aircraft in February 1996. It was aimed mainly at the
Corporate Travel Segment, which at that time was practically non-existent. Million Air, which
completes its eight years of operation in February 2004, now boasts of a regular clientele of over
421 top companies in India and abroad.
Million Air has the distinction of achieving overall technical reliability of 99%. During this
period, it has operated over 10,000 flights and flew over 27,900 passengers covering a distance
of approx. 23,25,000 kms. With Million Air you fly at your convenience, safely in world-class
comfort and in style.
Million Air is also a member of HAI (Helicopter Association International) & NBAA (National
Business Aviation Association, USA and has been awarded "safety Awards" by both the
organizations.
Services Offered:
 Long distance travel (Domestic and International) on Business Jet Aircraft
 Emergency stretcher services on Helicopters
 Aerial sight seeing tours and Joyrides
 Visits to places of pilgrimage
 Factory visits
 Film shootings
 Flower Dropping
 Aerial photography/survey (with prior permission)
 Electronic News Gathering

Board of Directors
Dr. Vijaypat Singhania: Chairman Emeritus
Dr. Vijaypat Singhania was appointed Chairman and Managing Director of the company in
January 1980, which position he held till June 1999 and was appointed as Executive Chairman of
the Company from July 1999. Currently he is the Chairman-Emeritus of the Company from
September 6, 2000, in a non-executive capacity.
Dr. Singhania has nearly four decades of experience in the management of several industrial
units as the Chief Executive and has been instrumental for the successful growth and
diversification plans of the Company. Dr. Singhania also serves as Chairman of the group
companies.
Dr. Singhania is actively associated with Indian Merchants’ Chamber, Indian Woollen Mills
Federation, and Founder patron of Federation of Indian Pilots. Dr. Singhania has undergone the
Advanced Management Programme (AMP) in Harvard. Dr. Singhania was a member of the
FICCI trade delegation to Russia and Australia and the delegation of the Government of India to
France.

Mr. Gautam Hari Singhania: Chairman & Managing Director

Mr. Gautam Hari Singhania took over the reins of the company as Chairman and Managing
Director in September 2000. Since then he has steered the destiny of Raymond Limited with a
single-minded focus of being the best brand in India. He has been responsible for the strategic
decision of the restructuring of the Group, initiating the divestment of the Synthetics, Steel and
Cement division. Post divestment, the Group has consolidated its position with a better bottom
line and more focussed and market oriented approach.
Mr. Gautam Singhania joined the J. K. Group of Companies (Western Zone) in the year 1986. He
was appointed the Wholetime Director on the Board of Raymond Ltd. in 1990 and was elevated
to the position of Managing Director in mid-1999, in charge of all companies and subsidiaries of
the Raymond Group in India and abroad. In September 2000 he took over as Chairman &
Managing Director of Raymond Limited.
With a drive for creating new brands, Mr. Singhania has taken active interest in the launch of
new services and products. He was instrumental in the successful launch of the brand KamaSutra
in 1991. In the year 1996, he launched a new division called Million Air, providing quality
charter services.
It was under his leadership that the hi-fashion casual wear brand Parx and premium men’s wear
brand Manzoni were launched in the year 1999 and 2000 respectively. In the year 2001, Mr.
Gautam Singhania, introduced the concept of corporatisation of designer wear for the very first
time in India with the brand Be:. He also was instrumental in Raymond’s recent acquisition of
ColorPlus, a leading menswear brand.
Mr. Gautam Singhania’s keen foresight and innate business acumen has enabled the Raymond
Group to achieve soaring heights in the Indian and international markets. His personal vision for
the group is to take the Raymond brand from being the most respected Indian brand to be
amongst the best in the global market.

Mr. Nana Chudasama: Director

Mr. Nana Chudasama joined the Board in 1986. Mr. Chudasama is a well-known personality in
the field of business and social activities. Mr. Chudasama is a Director of a number of companies
including SAN Engineering & Locomotive Co. Ltd., New Consolidated Construction Company
Ltd., Shivagrico Implements Ltd., Gratex Industries Ltd., and The Dukes' Retreat Ltd. and
Midday Multimedia Ltd.

Mr. U.V. Rao: Director

Mr. U.V. Rao joined the Board in 1994. Mr. Rao, a B.E. (Elec.), has participated in the Advanced
Management Programme (AMP) at Harvard. Mr. Rao has had over 40 years of experience in
business and industry besides project experience. He was the Chief Executive & Managing
Director of Larsen & Toubro Limited.

Mr. Rao is a Director of numerous companies including Stovac Industries Limited, John Fowler
(India) Ltd., TIL Limited, Usha Martin Ltd., Indfos Industries Limited, Kirloskar Oil Engines
Ltd. and Kirloskar Brothers Ltd also alternate director in Dickinson Fowler Pvt. Ltd.

Mr.B.V.Bhargava:Director

Mr. Bhargava joined the Board in 1996. A post graduate in commerce and a law graduate, Mr.
Bhargava has had varied and multifaceted experience. He has had a distinguished career in
development banking and project finance for nearly three decades. His career began with the
Tariff Commission of India, where he was involved with various industries including sugar,
cement, and paper. After joining ICICI Ltd, in 1968, Mr. Bhargava headed various departments
including projects department and projects appraisal department. He was appointed as Vice
Chairman & Managing Director of ICICI Ltd., which post he held till his retirement in May
1996.

Mr. Bhargava is also on the Board of numerous companies including The Credit Rating and
Information Services of India Limited (CRISIL), Cosmo Films Ltd., Supreme Industries Ltd.,
Grasim Industries Ltd., J.K. Corp. Ltd., HEG Ltd., ICICI Lombard General Insurance Co. Ltd.,
Schenectady Herdillia Ltd., National Commodity &Derivatives Exchanges Ltd, and Excel Crop
Care Ltd.

Mr. B. K. Kedia: Director

Mr. B.K. Kedia, who joined the Board in January 1995 as Senior President & Wholetime
Director, was appointed as Senior President and Joint Managing Director in November 1998.
Presently he is a Non-Executive Director of the Board from August 2000. Prior to his elevation
to the Board, Mr. Kedia was Senior President and has been associated with the Company in
various capacities for over four decades. Mr. Kedia is also on the Board of the group companies.

Mr. B.K. Kedia, a post graduate in Arts, has participated in the Advanced Management
Programme (AMP) at Harvard. Mr. Kedia was awarded a Certificate of Honour by the Indian
Woollen Mills' Federation (IWMF) for his distinguished services to the Indian woollen industry.
Mr. Kedia is the Chairman of the Indian Woollen Mills' Federation, Mumbai and Chairman
Emeritus of the Wool Research Association.

Mr. I.D. Agarwal: Director

Mr. I.D. Agarwal is a Director nominated by Unit Trust of India since October 2001. Mr.
Agarwal, M.Com. D.S.M., C.A.I.I.B., has 37 years of experience in Banking, Finance and
Currency. Mr. Agarwal, Former Executive Director, Reserve Bank of India, was an Advisor to
the United Nations and has been the Director of Small Industries Development Bank of India
(SIDBI). He is currently the Chairman of OTC Exchange of India, OTCEI Securities Limited,
IKF Finance Ltd., UTI Trustee Co. (P) Ltd., and Western India Shipyard Ltd.
Mr. Agarwal has undergone professional training with Bank of England (U.K.), Midland Bank
(U.K.), Bundesbank (Germany) and Dresdnerbank (Germany).

Mr. Nabankur Gupta: Group President & Wholetime Director

Mr. Nabankur Gupta is the Wholetime Director and Group President of the Company from
January 15, 2001 and he joined the Raymond Group as Group President with effect from August
1, 2000.
Mr. Nabankur Gupta (56 years) graduated from IIT Delhi in 1970 in Electrical & Electronic
Engineering. He started his career with Philips (India) Ltd. as a Management Trainee and rose to
be the marketing head of the Consumer Electronics.
He joined Videocon International Limited in June 1989 and was Executive Director on the board
till July 2000. He was also on the Board of the five other Companies of Videocon Group.
He introduced the concept of sub-branding and subsequently multi-branding in the area of
consumer durable for the first time in India. As a consequence of this successful strategy, he
received recognition by the Advertising Age International, New York, in 1995 with the title of
Marketing Superstar.
Presently, he is the Chairman of the Media Research Users Council (MRUC) and the President of
Alumin Association IIT (D), Bombay Chapter.

Mr. Anant Singhania: Wholetime Director

Mr. Anant Singhania is the Wholetime Director of the Company with effect from August 1,
2000. Prior to his elevation to the Board, he was the Commercial Director of the erstwhile Steel
Division of the Company in August 1997 and Executive Director of the Company in July 1999.

Mr P. K. Bhandari: Wholetime Director & Deputy Group President

Shri P.K. Bhandari, aged 46 years, is a commerce and law graduate from the University of
Kolkata and a Fellow Member of the Institute of Chartered Accountants of India and an
Associate Member of the Institute of Company Secretaries of India and has over 22 years of
experience in the field of finance, industry, business and corporate management. Shri P. K.
Bhandari who joined the company in August 27, 1989 played a key role in strategizing and
implementing the Company's restructuring program which included hiving off its non-core
businesses in steel, cement and synthetics and consolidating its core - textile, garment and files
businesses. Shri Bhandari currently heads the textile and garment business of the Company and
is a key executive of the top management of the Company.
History
Around the time the Singhania family was building, consolidating and expanding its various
businesses in Kanpur, one Mr. Wadia, was in a similar
manner engaged in fulfilling his dream: he set up a small woollen mill in the area around Thane
creek, 40 kms away from Bombay. This mill was soon acquired by the Sassoons, a well-known
industrialist family of Bombay, who renamed it as The Raymond Woollen Mills.
When the Singhanias were looking for new regions to establish their presence and new fields to
venture into, they concurred that textiles appeared to hold promise. A piece of information that a
woollen mill was available on the outskirts of Bombay clinched the issue.
When the grandson of Lala Juggilal, Lala Kailashpat Singhania took over Raymond in 1944, the
mill was primarily making cheap and coarse woollen blankets, and modest quantities of low
priced woollen fabrics.
The vision and foresight of Mr. Kailashpat Singhania helped greatly 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 modernisation 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. At Raymond,
quality did not rest on its laurels. When Dr. Vijayapat 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 the
Synthetics, Steel and Cement divisions he initiated, the Group has emerged stronger with a better
bottom line, more focused approach, become market oriented and achieved a consolidated
position.
Today, the woollen mill by the creek has turned into a Rs. 1400 crores conglomerate and is
India’s leading producer of worsted suiting fabric with 60% market share. It is also the largest
exporter of worsted fabrics and readymade garments to 54 countries including Australia, Canada,
USA, the European Union and Japan. The Raymond group is also the leader among readymades
in India with a turnover of Rs. 2000 million with its three brands – Park Avenue, Parx and
Manzoni.
In its pursuit of excellence Raymond continues to achieve enhanced customer satisfaction
through ongoing innovation. And happily the growth graph continues to rise higher…and higher.

It all began with a small but significant order from Fiji for Rs. 7,000 worth of Raymond fabrics.
In the St. Erik’s Fair in Sweden, a sizeable order was won and executed and ever since exports
have never looked back.
Today, Raymond is the largest exporter of worsted fabrics and readymade garments to over 58
countries including Australia, Canada, USA, the European Union and Japan. From winning the
first ever Government of India award for outstanding export performances, Raymond has
continued to win a number of export awards. Happily the export graph continues to rise higher…
and higher.
The fact that Raymond makes world-quality fabrics is evident in the global acceptance the brand
has achieved. Internationally renowned menswear designers today style their latest collections
from Raymond- the fabric in fashion.
WHAT WE EXPORT
FABRICS
All Wool, Wool Rich, Polyester Wool & Polyester Viscose fabrics .Exotic fabrics like Wool Silk,
Wool Cashmere, Cape Wool and Linen blends. Available in variety of finished and stretch
properties both with and without Lycra.
BLANKETS
All Wool, Wool Rich Blankets & Flannels.
GARMENTS
Trousers, Jackets, Suits, Shirts, Jeans and T – Shirts.
Readymade accessories such as Ties, Socks Handkerchiefs and Leather Belts

J.K. Ansell has consistently earned the approval of buyers the world over and is recognised both
for high quality condoms and consumer appeal.
At every stage in the process, from sourcing the raw material through the production process to
dispatch, stringent quality parameters are met.
The plant is ISO 9001 certified and accredited for CE Mark from British Standards Institute,
UK. We have elaborate testing facilities in-house. Our products also conform to various
international standards like ISO 4074, BS 3704, ASTM, WHO, SABS and US FDA 510K.
The company exports KamaSutra condoms to more than 50 countries across the globe.

Asia: Bangladesh, Fiji, Iran, Jordan, Kuwait, Nepal, Saudi Arabia, Sri Lanka, Syria, UAE,
Vietnam and Yemen

Europe: Russia, Azerbaijan, Brunei, Cyprus, Hungary, Kazakhstan, Latvia, Romania, Turkey,
and Ukraine

South America: Chile, Guyana, Panama, Peru, Surinam and West Indies

Africa: Benin, Botswana, Ethiopia, Ivory Coast, Kenya, Mauritius, Mozambique, Nigeria,
Sudan, Tanzania, and Zambia
Branded condoms apart, the company is also involved in institutional supplies to various
countries. It has in the past supplied condoms under EEC, World Bank UNFPA funded
programmes to Bangladesh and Kenya. The company has also exported bulk products to Ansell
International for the markets of USA, Europe and South Africa.

For Export Enquiries:

PhNo:+91-22-22644033
Fax:+91-22-22620052
Email : lavaishagarwal@raymondindia.com
J.K. Files & Tools enjoys a substantial market share in all parts of the world and is a strong brand
name in Africa, Asia and Latin American markets. It exports more than 50% of its production to
more than 80 countries around the world and enjoys more than 30% share in the global market.

Since 1972 this division has been regularly receiving the Engineering Export Promotion
Council's excellence award.

Customers all over the world prefer the company's products as it means value for money in terms
of all aspects of the product and services. JKFT supplies files to Original Equipments
Manufacturers (OEMs) in Europe and USA. It also supplies to Machete manufacturers who
complement their product range with the company's files. JKFT also services to large distributors
and wholesalers who deal in tools and hardware items.

Investor Relations
Registered Office:
Plot No. 156, H No.2, Village Zadgaon, Ratnagiri 415 612,Maharashtra
Phone : 95-2352- 232514; Fax : 95-2352- 232513
Annual General Meeting:
Date and Time : June 30, 2004 at 11.00 A.M.
Venue : Registered Office of the Company at Plot No. 156/
H. No. 2, Village Zadgaon, Ratnagiri 415 612, Maharashtra
Financial Calendar:
Financial reporting for the quarter ending June 30, 2004 : End July 2004
Financial reporting for the half year ending September 30, 2003 : End October 2004
Financial reporting for the quarter ending December 31, 2004 : End January 2005
Financial reporting for the year ending March 31, 2005 : End April 2005
Date of Book Closure:
June 16, 2004 to June 30, 2004(both days inclusive).
Dividend Payment Date:
July 2, 2004 onwards.
Listing on Stock Exchanges:
The Equity Shares of the Company are listed on the Stock Exchange at Mumbai, and National
Stock Exchange of India Limited. Annual Listing Fees as prescribed have been paid to both the
Stock Exchanges for the year 2004-2005.

The Equity Shares of the Company have been delisted from the Stock Exchanges at Kanpur and
Delhi effective September 26, 2003 and October 23, 2003 respectively. The application for
delisting of the Company’ shares on The Calcutta Stock Exchange is pending approval.

The outstanding Debentures are listed on the Wholesale Debt Market Segment of National Stock
Exchange.

Global Depository Receipts are listed on London and Luxembourg Stock Exchanges. Annual
Listing Fees as prescribed have been paid to both the Stock Exchanges for the calendar year
2004.
Stock Code:
BSE, Mumbai (Physical) - 330
BSE, Mumbai (Demat Segment) - 500330
National Stock Exchange – Raymond EQ
NSDL/CDSL – ISIN – INE301A01014
Stock Market Data:
The monthly high and low quotations and volume of shares traded on BSE and The National Stock Exchange (NSE)
are as follows :
MONTH BSE, MUMBAI NATIONAL STOCK EXCHANGE
HIGH LOW NO. OF HIGH LOW NO. OF
SHARES SHARES
TRADED TRADED
APRIL 2003 96.70 83.00 147332 97.80 87.00 212112
MAY 2003 123.35 90.85 1271445 123.30 91.10 1309004
JUNE 2003 121.95 108.30 739565 119.80 108.60 1406839
JULY 2003 142.55 112.60 3506438 144.00 112.40 5665703
AUGUST 2003 142.20 122.50 2230290 142.90 122.55 4158633
SEPTEMBER 156.50 133.80 1671648 157.00 129.30 3626191
2003
OCTOBER 2003 173.10 135.50 2665972 173.50 135.50 4670185
NOVEMBER 181.00 135.00 8492902 181.70 135.00 11613719
2003
DECEMBER 245.00 177.50 5086637 244.50 177.00 7546441
2003
JANUARY 2004 241.00 168.20 1446288 242.00 168.00 3126158
FEBRUARY 2004207.00 180.00 732153 207.00 161.00 1421305
MARCH 2004 199.00 164.25 366708 199.90 165.00 870095
Share Transfer
Shareholding
Plant Locations
Investor Correspondence

Trusts
A responsible corporate citizen, the Raymond group has displayed an innate desire and a
missionary zeal to contribute to the welfare and social upliftment of the community. Raymond
has provided the educational, medical, housing, recreational and spiritual support for its people
wherever it has created industry and employment. It also manages some trusts, which takes on
the company’s social responsibility.
J.K. Trust:
The J. K. Trust provides scholarships and medical aid to not just its employees but to anyone in
need. Applications for the aid are accepted at the despatch counter at J.K. Building.
J.K. Trust Gram Vikas Yogana:
J.K. Trust Gram Vikas Yogana manages the cattle breed improvement program through
establishment of integrated livestock development centres. The trust was established with the
main objective to transfer the technology to the grassroots and create a conducive environment
for rapid development in rural areas through extension, training and entrepreneurship.
The cattle breed improvement programme takes care of a system, to upgrade the local
indigenous low milk yielding cows by crossbreeding them with use of frozen semen from highly
pedigreed exotic Holstein Friesian and Jersey bulls and buffaloes with frozen semen of superior
breeds such as Murrah and Surti. The resulting crossbred cows/buffaloes being better milk
yielders help in improving the socio-economic status of the farmers. This led to the concept of
establishment of the “Integrated Livestock Development (ILD) Centre” and the “Gopal”.
The programme operator or the “Gopal” who monitors each centre is a local educated
unemployed youth extensively trained for six months to carry out artificial insemination in cattle.
One centre covers about 10-15 villages falling within a radius of 8-10 kms. catering service to
approximately 2000 animals. The Gopal is provided with a motorbike and renders services like
veterinary first aids, castrations of indigenous bulls, treatment of animals for infertility,
deworming and preventive vaccination against various diseases at the doorstep of the farmers.
At present, around 180 centres are in operation in eleven districts of Chattisgarh State, 69 centres
in eight districts of Madhya Pradesh and 150 centres in two districts of Andhra Pradesh.
The establishment of the programme of Integrated Livestock Development Centres which
commenced from a small beginning, will be soon 1000 centre strong covering the states of
Madhya Pradesh, Andhra Pradesh, Chattisgarh and other states like Maharashtra, Haryana and
Himachal Pradesh. The Programme is being structured to meet the local conditions and with the
experience so gained, the Trust would soon initiate other activities, which will induce further
vibrance into the lives of rural India. For J.K. Trust Gram Vikas Yojana, this is just one small step
forward in catalysing rural development.
Smt. Sulochana Devi Singhania School Trust:

The Trust manages Smt. Sulochana Devi Singhania School at Jekegram, Thane which is a co-
educational school from Junior K.G. to XII standard, affiliated to the Council for ICSE. Set up in
1969, the school campus is spread in a sprawling 10.6 acres. The 3,800 students of this school
have separate outdoors and indoors sports facilities, five computer labs, each with 35 state-of-art
computers and an open air theatre to express themselves creatively. In 2002 the school started XI
& XII standard in Science stream offering Indian School Certificate (ISC).
Sitemap
News & Coverage
SUPER 220S - World’s finest fabric by Raymond
Raymond is the leader in the textile and apparel sector in India and one amongst the top two
manufacturers of worsted suitings in the world with the widest range of suitings.

Raymond has launched the world’s most exquisite and finest fabric – ‘Super 210S’ as a part of
its Chairman’s Collection and has plans to introduce limited editions of Super 220s during this
month. It is the only Company in India, besides perhaps only two others in the world, which has
the technical know-how and the expertise to manufacture Suitings in the Super 200S Wool
category.

The term Super 220S connotes the fineness of the fabric: higher the grade, finer the fabric. In this
case, Super 220S is an elegant and exquisite fabric made from extremely fine 12.7 microns
wool (one micron is one millionth of a meter).

This wool is not easily available and comes from a special breed of the Australian Merino
Sheep called the Saxony Merino that are maximum twelve months old and are renowned for
their fine fleece. These sheep are reared in Queensland, where the compatible weather conditions
of the region are conducive for the high quality variety of wool.

Extensive research and development has gone behind the making of the Super 220S, right from
the fibre development stage to the spinning, weaving and finishing of the product. The
combination of luxury wool and superior weaving technology gives this fabric a soft buttery
texture with great durability and drape.

Across the globe, the production of Super 220S (12.7 microns) wool plain fleece for the year
2003 has been only 200 Kilograms. Since the fabric is so rare, priceless and precious, Raymond
is creating only limited Suit Lengths of this fabric. Super 220S will be available at select
Raymond Shops across the country in classic designs of Chalk Stripes, Elegant stripes and fine
Herringbones in three colours Navy, Charcoal & Worsted Grey.

Perceived to be a pioneer and innovator in the Indian textile industry, Raymond has had a series
of technological breakthroughs to its credit:
First to introduce polyester/Wool and Polyester/Viscose /Wool suiting in India. 1995: Superfine
pure wool collection under the Lineage Line (Super 100S to Super 140S) 1996: The Renaissance
Collection made of Merino wool blended with polyester and speciality fibres (Super 100S to
Super 140S) 1999:The Chairman’s Collection of Super 150S made from Merino Wool and
Cashmere followed by Super 160S to Super 190S 2002: Super 200S (13.5 microns) fabric under
the Chairman’s Collection 2003: Applause Wool-rich Home Washable Suiting 2003:Super 210S
(13.2 microns) fabric under the Chairman’s Collection 2004:Super 220S (12.7 microns) fabric
under the Chairman’s Collection
Financial Express, New Delhi
February 9, 2004
Raymond to Create Shop-in-shop For Manzoni
With the objective of creating separate brand identity within the Raymond Showroom (TRS),
Raymond Apparel Ltd is creating shop –in-shop for its super premium brand Manzoni. The shop-
in-shop for Manzoni will create the niche within TRS, while also giving distinct identity to Parx
and Park Avenue. Further, the company is looking at the possibility of having separate flagship
stores for its brands to further the aim of brand identity.

Raymond Ltd. Deputy group president Pradeep Bhandari said the aim behind having shop-in-
shop for Manzoni is to give the super premium brand a better visibility in the TRS. “With the
super premium segment coming up, a separate visibility is needed for Manzoni,” said Mr.
Bhandari When you have so many brands in the shop (TRS), there has to be a demarcation as far
as brands are concerned and that’s the objective behind the shop-in-shop, he added.

To begin with, the company is looking at having shop-in-shop for Manzoni in 50 TRS all over
the country in the next couple of months. “The aim is to give a distinct experience to the
shoppers of Manzoni and display the depth the brand offers,” said Mr. Bhandari.

The move to create a distinct identity for Manzoni could come from the fact that the company is
looking to push the brand more prominently in the minds of the customers. RAL has a total
turnover of Rs. 250 crore, of which Manzoni contributes five to seven percent to the total
turnover, while Park Avenue’s share is 60 to 65 cent with the balance from Parx.

Mr. Bhandari said that the creation of shop-in-shop for Manzoni will pave the way for a distinct
niche for Parx and Park Avenue.

Further the company is contemplating the possibility of having a few flagship stores to display
the brands. Mr. Bhandari said flagship stores for brands like Parx and Park Avenue, to be set up
at shopping malls, is under consideration. “The flagship stores under consideration will
essentially be an image-building initiative and will be present in locations which give complete
shopping experience like shopping malls,” he said

The Times of India, Mumbai

February 8, 2004
BJP’s feeling good as dil hai Hinglishtani
The Language purists in the BJP may still cringe, but in the brave new world the party is
creating, Hinglish rules the waves.

In the spirit of “Yeh hai right choice, baby”, the BJP’s latest buzzword “ feel good” has
apparently no swadeshi equivalent: A booklet in Hindi at that explaining the expression. Is
entitled “Aam aadmi ke nazariye se ‘yehi hai pheel good.”

Party sources say the originator of the party’s latest buzzword is deputy Prime Minister
L.K.Advani, who has taken inspiration from the spindoctoring of the Margaret Thatcher era
when “the feel-good factor” gained currency.
On Friday, Mr. Advani at the BJP’s national council meeting, said he had understood the
meaning of the “feel-good factor” when the met successful non-resident Indians. Next, he
referred to a Raymond’s ad, which shows a child lightly touching a Raymond’s suit, with the
catchline “It feels like heaven, doesn’t it?’ and said, “We can’t promise you heaven, but we want
to promote ‘If it feels good, it must be India’.”

Mr. Advani did attempt a translation with “khushnuma mahaul”, but the BJP does not want to
provide a swadeshi equivalent. The feel-good factor has a snappy ring that translations such as
“Khushnuma mahaul”- in Urdu no less-or “Sukhad ahsaad” don’t have.

A Party functionary, when asked what “feel-good” would mean to a villager said, “It’s better to
stick to feel good, rather than have people rendering translations in different ways and confuse
people.” Hence the booklet.

Business World
January 27, 2003
NO. 1 READYMADES & TEXTILES – RAYMOND
You may have noticed the way Raymond has subtly repositioned itself. Once a prestigious
assignment for the country’s top hunks, the Rs. 1,000 – crore textiles and garment outfit has, in
the last one-year or so, started fielding distinctly Anglo-Saxon models. Group president
Nabankur Gupta calls it the repositioning of the ‘complete man,’ Raymond’s famous tag line.
“We are repositioning the brand to give it dynamism, youthfulness and a global feel,’ he says.
However, that’s not the only reason why Raymond is on top of the pile in a category comprising
heavy weights such as Grasim Industries, Arvind Mills and Century Textiles. There are others.
Begin with the fact that over the last year and a half, Raymond has taken some pretty hard
decision, like exiting the steel and cement businesses. “Selling off Rs.1,200 crore of assets is not
easy. Shrinking in size is not easy, especially for an old business family. But when you start
taking tough calls, the industry sits up and notices you. It may even respect you,” says Raymond
chairman Gautam Singhania, only to add: “It took us 37 months to sell off the steel business; we
finally sold it for a pittance. But it is better sold than in the system.”
Then, Raymond launched Be:, a line of readymade apparel for women. And finally, a few
months back came the ColorPlus acquisition for Rs 58 crore. The big picture: Raymond seems
pretty serious about dominating the textiles and ready-to-wear industry.
Somewhere through all this, Raymond is altering its image among peers. That process began
with the induction of Gupta as group president. Gupta, who was earlier with white goods
manufacturer Videocon, is known in industry circles as a pretty savvy marketer.
Gupta’s induction also coincided with the elevation of Singhania to the post of chairman, an
office earlier occupied by his father. “Today, we are trying to occupy the intellectual high group
in our industry, “ says Gupta. “For example, more of us are attending seminars, discussions,
putting forth our opinion with greater emphasis, etc. the company has become more forward
looking.”
The poll validates all this. In this sector, Raymond has out performed all the other companies
polled. As the numbers show, the difference between Raymond and No.2 Grasim on all the
parameters is far higher than the difference between any other two ranks.
As markets go, textiles and ready-mades is a pretty ruthless one. It was one of the few industries
that competed fiercely even in the pre-liberalization era. And in the last few years, things have
just become worse. The readymades part of the industry is totally fragmented. This is due to a
proliferation of players, especially in the last half-a-decade or so. Consolidation – like the
Raymond- Colo Plus deal – is perhaps the only way out.
However, even that is not yet rampant. So organizations have to stay content with small markets
share. For example, according to consultancy company KSA-Technopak, in formal wear, Park
Avenue (a Raymond label) did business of around Rs 200 crore in calendar year 2001, followed
by Zodiac (Rs 150 crore) and Louis Philipe (Rs 120 crore). In casuals, it’s Allen Solly (Rs. 85
crore), followed by Raymond’s Parx (Rs 75 crore) and ColorPlus (Rs 54 crore).
Raymond is now looking at hastening the pace even further. For example, Gupta says that shile
historically the company opened around 10-12 new shops every year, from 2003 onwards it plans
to open 20-30 shops annually. Again the company is now looking at taking the Be:label global.
How’s that for complete ambition?

Weekend
June 28, 2002
CUT OF CLASS
He’s a cut above the rest. And he likes to think big, and think ahead. So be it. Weekend catches
up with Indian businessman Gautam Singhania who’s been drawing media attention for his
shrewd business sense.
Up to a little less than three years ago, his industrialist aviator father, Vijaypat Singhania was in
the spotlight, while Gautam caught the attention of the media not for corporate reasons, but as
part of the elite class of Mumbai. However, when the winds of change blew through the
Raymond Group’s boardroom in September 2000, the ‘scion’ stepped into the father’s shoes.
Since then, he’s been hitting the headlines with his shrewd business strategies and path-breaking
initiatives. Surprising first, but eventually winning over the approval of the most conservative
business pundits.
WEEKEND meets with Gautam Hari Singhania , the chairman and managing director of a
company that was incorporated on September 10, 1925…
Taking stock as chairman…
GAUTAM HARI SINGHANIA: When the limelight is on you, and the buck stops with you, it’s
different, and it’s hard. You are responsible for the good and the bad, the entire onus is on you.
The last three years have been tough as well as rewarding for all of us. We’re looking ahead now,
and are poised to face the future. And, with the global economy not really very healthy, I see a lot
of potential challenges that need to be tackled.
Moment of pride as chairman…
Although the decision to restructure the Group needed little deliberation, it was, nevertheless, a
critical strategy. Having done that successfully, and with the Group firmly on course, I look back
at the entire exercise as an extremely fulfilling one.
Decision to divest…
The group had grown in girth after diversifying into cosmetics, cement, manufacturing, steel and
synthetics. I decided to focus in its core business – textiles and garments, and sold the steel
company to Thyssen Krupp Stahl of Germany and the cement division to French major Lafarge.
There was no ambiguity about the decision whatsoever. Everybody knew the merits of the
strategy, a simple number game. It was just a question of pushing and achieving it, and I
personally took it upon myself to accomplish it at any cost. Once you set your mind on doing
something, there’s little probability it may not happen, and with my father backing me 100 per
cent, things couldn’t have been easier for me.
Reinvention Raymond from being a fuddy-duddy brand into a contemporary one…
I didn’t do it myself, a lot of people worked together to take process happen. Yes, Raymond is
increasingly being perceived as a younger and youthful brand, and now with the Be: concept, we
attention of every generation.

Focus of our flagship…

We’re focusing on the textile and apparel sector. The apparel sector is growing at 40 per cent and
there will be a big thrust in the area. Retail and distribution, too, will remain a core focus area.

Competing brands like Reid and Taylor, and Scabal…

None on the other entities have the distribution or infrastructure facilities that we have. In the
apparels sector our business has grown substantially. Now we have three brands - Park Avenue
(office wear and suits), Parx (casuals), and Manzoni (silk shirts and ties). In the textile field, our
market share is 60 per cent, and in the total readymade segment, we should be 20 per cent.

Hiring an international designer for Parx…

For Parx, Raymond hired the expertise of a Hong Kong-based designer, Katie Badget, who also
designs for Armani and Tommy Hilfiger. We brought her in to inject some freshness into the
brand, and give it an international look. Our strategy has paid off, because Parx leads the market,
both in terms of volumes and value.

Raymond Group’s turnover…

The group’s turnover is around Rs.1,400 crore ($280million ), and the textiles turnover would
probably constitute 65 per cent of that.

Expected rate of growth in demand of textiles…

Worsted segment it growing at 8-10 per cent a year, and ready-mades at 20 per cent.
Indian consumer vis-à-vis international consumer…
The Indian consumer is becoming very conscious of what he elects to wear, primarily because of
the influence of the electronics media. As for the young generation, they are more discerning,
and selective – this makes our job even more difficult because in today’s highly competitive
market you’ve got to be that much more receptive of consumers’ tastes to stay ahead in business.

Market share in Dubai…

We have been here for over a decade, with 11 outlets in the Middle East, and some more being
planned. The chain has, obviously, frown and I guess that’s sign that it has performed well. Our
annual turnover in the Middle East is around Rs.25 crores ($5million).

T i e – u p s w i t h f o r e i g n companies…
We have some loose arrangements with companies, but no concrete deal has been struck so far.
From our relationships with foreign companies in the past, we realised they were learning more
from us, than we from them. With no real value addition to our line, we had to withdraw our
alliance.

You may be buying Raymond without knowing it…

We are already selling aggressively in 55 countries, including Europe, Japan, and the US. For all
you know, you may walk into a Ralph Lauren outlet, pick up a suit, and you wouldn’t even guess
that the fabric is Raymond’s. We’d probably have to do a lot more to make our presence felt
better!

Impact of 9 / 11…
It did take us several steps back. Trade stopped across the world, and it affected everyone. People
stopped buying, orders shrunk up, and that did worry us for some months. Things are, however,
looking up now, and we’re hoping for better times.

The logic of be:…

The concept of Be: is ‘to be what you want to be’. With the array of top-line designers that have
been housed under this line, you shall have the freedom to choose your mood. You can be
sensuous, smart, friendly, or formal – every attitude is encapsulated under one roof. It’s a shop
that will retail prêt designer wear, anyone can get a brand equity of Ritu Beri or Rohit Bal, or one
of our other top designers at a very affordable cost.

The be: concept…

It’s been nine months since we set up the first Be: shop in India, we have five stores now
including this one in Dubai. Be: is a new concept, I don’t think there’s anybody in the world who
is doing it like this, where over 10 designers have been brought together under one roof, along
with our own in-house line. The launch of Be: also marked Raymond’s entry into the women’s
ready-to-wear market. As for the Dubai outlet, it is a franchisee, and our investment shall be in
terms of advertising, and human capital. We have a whole lot of people in Raymond, working to
make sure this project is a success.

The philosophy behind Be:

Raymond is a value-for-money company, and believes in taking that philosophy right up to the
customer. Personally, I wanted to corporatise the Indian fashion industry, and push it forward in
the international scene. I don’t think India has been effectively portrayed as a country that can do
well in the fashion world. I’m alive to the fact that our designers are very good, they need
somebody to help them with the retail, marketing, and management, and this is where Raymond
came in. as leaders in the industry, we took the lead and said we would provide them with all
those services, while they would do the designing. That’s how Be: was born.

Ambitions for Raymond…

There are new initiatives brewing in my mind, but it’s too premature to talk about them at this
stage. I always like to think big, and think ahead. In that sense, I would eventually like to mould
Raymond into a global brand name, on the garment section of the business.
Taking Raymond into the international markets will not be a very easy proposition, because India
is still far behind in the readymade garment industry, probably due to political reasons. People
out there, on the international scene, have been in the market for the past 20 to 50 years, and they
know the customer better than us. Although the scene is optimistic, we have a lot of catching up
to do, and for a start, we need to get the product absolutely right.
Business Today
October 13, 2002

THE COMPLETE FEELING

WE’RE CONSOLIDATING THIS industry. The big has to get bigger,” chuckles an upbeat
Gautam Hari Singhania, the 37-year-old Chairman & Managing Director of Raymond Limited,
just hours after inking a deal to acquire 75.1 per cent of ColorPlus for Rs 58 crore. “And
ColorPlus, he adds, “is just the beginnings.”
Make no mistake. It isn’t so much industry consolidation as Raymond’s own portfolio
fortification that’s happening. Here’s why: Even with ColorPlus in its bag, Raymond will control
just about 3 per cent of the Rs 9,000 crore branded apparel market. But as a ready-to-wear brand,
Raymond will straddle a wider market spectrum (See Power Dressing).
The deal, which Raymond assiduously pursued for nearly 16-months, also marks a paradigm
shift for the company. It’s move away from Raymond’s historical manufacturing mindset
developing and launching its own brands, to a more market-led strategy that seeks to take
advantage of its huge retail network: 270 exclusive Raymond stores across 120 cities. “The
primary objective (behind ColorPlus’ acquisition) seems to be a need to contemporaries the
Raymond retail brand, which has not been able to transcend the product brand,” says Vivek
Mathur of Bangalore-based Integrated Retail Management Consulting (IRMC).
That’s partly right. Three years ago, Raymond launched a causal wear brand, Parx, targeted at a
younger consumer. Although Parx fetched more than Rs 75 crore in revenue last year, it has not
been able to provide the company an image breakthrough in the premium casualwear market.
Part of the reason, some analysts feel, is that Parx was more of a reaction to the Allen Sollys and
Free looks of the apparel world and, therefore, did not have a clear proposition. Admits
Nabankur Gupta, Group President, Raymond: “Parx is a value-for-money brand that lacks the
oomph of Raymond or Park Avenue’s premium image.”
It didn’t help that Raymond’s two-year-old label of super-premium shirts, Manzoni, is so niche
that its marketing strategy is limited to product or quality-led innovation. Theat is a challenge
even for a vertically-integrated (read: from fabric to retail) company like Raymond. “The Parx
experience then,” says Hariminder P. Sahni, Associate Director of KSA Technopak, “could have
driven the company to look for an acquisition, rather than fight with an existing brand to own a
segment.”
A Complete Wardrobe
No one is doubting the focus that Gautam Singhania has brought to the company ever since he
took over the mantle of CMD, in September 2000, from his illustrious father, Vijaypat Singhania.
Divestments in unrelated and often unprofitable businesses like synthetics, cement, and steel, not
only refocused company’s main stay in fabrics and garment, but also made Raymond hugely
cash-rich-part of this cash is being used to fund acquisitions like colorPlus. The only remaining
non-core business is the Rs 37-crore plus JK Files & Tools division. “Since we’re number one in
the world here, there is no buyer,” says Singhania. “Still, it is a investment, giving us good
profits.”
However, Raymond’s biggest challenge, and Singhania admits this, lies in the integration of it’s
new acquisition with its existing businesses. Despite the obvious synergies that exist between
ColorPlus and Raymond’s brand lines, there are a number of things that can come unstuck. Some
belive that the brand Raymond is all about button-down formal dressing and ColorPlus stands
strongly for smart casuals. Therefore, there may be some kind of an image clash if both the
brands were to retail through the same stores. “With over Rs 120-crore business now in casuals
(between Parx and ColorPlus), we’re obviously very strong and will explore synergies in
distribution,” defends Gupta.
In that sense, Raymond seems to be following the Madura Garments strategy of playing the
market with multiple brands. But identical or similar strategies are unlikely to be a problem in
the apparel market. That’s be cause no one brand dominates more than 1 to 2 per cent of the
market. “Ultimately, market success hinges on the strength of your brand and how you
innovate,” points out Prakash Nedungadi, President, Madura Garments. Perhaps Raymond also
realizes this fact, which is why it has deferred by 42 months the acquisition of the remainder 24.9
per cent of ColorPlus. Says Sahni of KSA- Technopak: “The company seems to have tied in a
tight contract, since it is so much a product-led brand.” For the record, of the Rs 58-crore deal,
Raymond has coughed up Rs 24 crore for the ColorPlus brand alone.
Questions abound not so much about the ColorPlus acquisition as Raymond’s overall ability to
service its renewed focus on branded readymade apparel and retail. Consider: Inspite of good
profitability, Raymond does not get the premium it deserves on Dalal Street, primarily because
the company still seems to be assessing its focus and hasn’t been very aggressive on acquisitions.
Singhania’s defence is that every company acquired, there’s an other 10 Raymond has looked at.
A renewed focus on denim (Raymond recently upped its capacity from 10 million metres per
annum to 15 mm, and eventually that may go up to 20 mm in the next one year), may make the
company look at acquisition of a brand here, though both Park Avenue and Parx do sell branded
jeans. “Raymond sees high potential in targeting the younger consumer segments,” says Rahul
Dhawan, Head of Research at SKP Securities. “And it seems it is getting its act together in
retailing – an act in consonance with its quest for higher margins business,” he adds. The
composition of the denim market is unique. Even though market trends are clearly driven by
international brands such as Levi’s, Lee or Wrangler, affordability issues leave a big part of the
market open to home grown brands, some of whom rake in more than the international brands.
Kewal Kiran’s Killer and Maxwell Industries’ Live In are two such brands.
So even as Raymond follows Madura Garments’ strategy of multi-branding, don’t expect it to
target the mass-market in apparel, a la Madura’s Peter England.
“Ultimately, market success hinges on the strength of your brand and how you invoate”
PRAKASH NEDUNGADI, PRESIDENT, MADURA GARMENTS
“We’re not cut out for the price-led commodity business. Why, we don’t play that game even in
fabrics,” points out Gupta.
Part of the reason for not playing the mass volumes game could be Raymond’s historical strength
in exclusive retail outlets, which fetch more than 70 per cent of its apparel sale. That has
insulated the company from the larger “distributor to small retailer” –driven game that has
become the mainstay of the late 1990s brands, both from big players in Madura and Arvind, and
the crop of newcomers such as Acme clothing (Provogue) and Polki Garments (Freeloook).
“Event a not-so-well marketed or positioned Parx has ridden successfully on the back of
Raymond’s exclusive retail,” says Jigar Shah, Head of Research at brokerage house KR Choksey
& Company.
But the insularity may soon go. That’s because while Raymond’s retail size indeed huge, its retail
identity (in terms of signage, merchandising, staff training, and systems and processes) leaves
much to be desired. Loading the premium ColorPlus on such a network may not be the best of
things to do. In fact, some of Raymond’s old stores – they make up half of the total network –
may not be good enough to attract the ColorPlus buyer. “We have a plan for ColorPlus that we
have worked out along with the existing management,” is all that Gupta would say.
Extending The Brand
The company’s year-old ambitious pret label (backed by more than 10 Indian designers including
Rohit Bal and Ritu Beri) Be: could be the springboard for a bigger marketshare of womenswear
market. “It is (womeswear) a different business and our thought is to get into it with the learning
from Be:,” says Singhania.
The Rs 3,500-crore womenwear market is showing the first signs of organisation. Madura
Garments last year extended its Allen Solly brand into this segment, and ColorPlus did so earlier.
Even smaller players like TCNS Clothing are angling for a slice of the pie. Last fortnight the
company launched a new brand, W, taking on unorganised players who rule the market. For the
company that gets its style-price equation right, womenswear could well be a goldmine. And
Raymond is as well placed as any other company.
Meanwhile, Singhania must contend with another issue: until recently, Raymond’s fabric brand
had been caught in sort of an image-trap, where it was increasingly perceived as a brand for the
35- plus. The company has recently revamped the brand with help from RK Swamy BBDO. But
whether that deepens the customer base remains to be seen. Gupta of Raymond, however, has no
doubt that all’s well with the brand. Says he: “Even while the market for worsted fabrics haven’t
grown in the past year, we have clocked nearly 25 percent value-growth.”

In fact, the fabric business gives Raymond a tremendous edge over Madura Garments and
Arvind Mills, since 4,000-odd multi-brand retailers vend it. Organised retailers, in their bid to
increase the footfall, are widening their range of stocks. For instance, Shoppers; Stop has started
stocking sarees, leading some industry analysts to believe that it is just a matter of time before it
– and other – starts stocking even premium fabric. And Raymond, given its impressive portfolio,
will have an edge there. Finally, the company should be beginning to feel like consumer it
clothes: complete.

Deccan Herald, Bangalore

14/10/02

CORPORATE / Raymond is poised to become a leader in the branded ready-to-wear men’s

garments segment with its latest acquisition of ColorPlus brand marking its entry into the
high-end readymade casual wear, writes Russell Foulds
THE COMPLETE CONSOLIDATION
In keeping with its philosophy of being ‘The Complete Man’, Raymond Limited is on t track to
consolidating is position as a leading apparel player in the country. Only a few w weeks back,
Raymond acquired the Chennai based premium branded apparels company ColorPlus Fashions.
Initially taking a 75.1per cent stake in the company’s Rs.49.50crore equity share capital for
Rs.58crore, Raymond would be completing the entire acquisition within a period of 42 months.
Raymond would be revaluing the business and then the issue of valuation would depend on
ColorPlus’ topline growth and its contribution to the bottomline of Raymond after this period.

Mr.Nabankur Gupta , group president in Raymond Ltd, told Deccan Herald that the ColorPlus
brand has been renowned for introducing new designs in the market for each season and is
known for innovation in quality, colors and concepts. “In ColorPlus we see a synergy in
positioning with Raymond. Now with the acquisition of a brand like ColorPlus, we must
certainly become leaders in the casual and smart casual segment of ready-to-wear men’s
apparels. Park Avenue is already a leader in the formal men’s wear segment and Manzoni as a
brand is a class aprt. The acquisition will complement our existing portfolio of brands and is a
step towards further consolidating our position as a leading apparel player.”
Why did Raymond decide on this major acquisition? Raymond introduces the Park Avenue range
of readymades some years ago primarily to cater to the formal wear market. Parx was launched
three years back to cater more to the ready-to-wear cotton casuals segment in the mid-price
range. So overall, the branding was more towards the top end with the formal wear and midprice
in the casual wear segment. The option for Raymond was either to float a new brand or to
acquire a brand. The fact is there has been a vacuum for a high-end, casual wear brand and since
ColorPlus is a promising brand, Raymond took a decision to acquire ColorPlus as a major
growth driver for its ready-to-wear division. This acquisition strengthens Raymond’s presence in
the men’s ready-to-wear segment – a thrust area for the company and a vehicle for future growth.
The acquisition also implies that Raymond is now poised to become a leader in the branded
ready-to-wear men’s segment – Park Avenue in the premium segment, Parx in the midprice
casual wear segment, Manzoni in the high-end men’s formal wear segment and now ColorPlus in
the high-end casual wear segment. Raymond expects the ColorPlus label to contribute as much
as Rs 100 crore in sales and Raymond itself, with its strong marketing network, intends to
increase volumes in ColorPlus. Its acquisition of ColorPlus would set the stage for further
consolidation in the domestic garments industry.
Mr. Rajendra Mudaliar, managing director of ColorPlus Fashions, says the deal brings together
significant synergies that exist between a world class brand like ColorPlus (with its ability to
constantly innovate and manufacture top-quality products) and arguably the best marketing and
distribution network in the country provided by Raymond. Mr. Mudaliar belives that the vast
Raymond distribution reach would enable ColorPlus brand to achieve its full potential at a quick
pace and the company expects a rapid growth rate over the next few years. ColorPlus Director
Kailash Bhatia points out that a Raymond store is a distinct, premium and exclusive retail format
that would provide ColorPlus with a high visibility platform to sell its products. “This kind of a
retail format will be highly complementary with our vast product portfolio which we will be
further diversifying in the future.”
ColorPlus has acquired a reputation since it was set up in 1993 and has carved out a high-profile
niche for itself. With a mix of high quality cotton and a gamut of styles and colours, ColorPlus
got to be one of the fastest growing brands in the market and during 2001-2002, the company
reported a pre-tax profit of Rs. 6.5 crore on a turnover of Rs. 50 crore.
Analysts however contend that this acquisition would compel Raymond to re-orient its brand
strategy. Given that the group has thus far been focusing on its flagship brand “Raymond” with
all its advertising
Geared towards building the Raymond corporate image, some change is likely to take place. Last
year, the company spent roughly Rs. 40 crore on corporate image enhancement and Rs 18 crore
on the apparel brands including Park Avenue, Parx, Manzoni and Be, which come under its
wholly-owned subsidiary Raymond Apparel. At present, these brands account for 18 per cent of
the group’s turnover and 10 per cent of its profits back in 1999 readymade accounted for 10 per
cent of the group’s turnover and also 10 per cent of its profitability.
By 2005, Raymond’s textiles to apparel ratio could be 55:45 and one way to achieve this is via
acquisitions. Mr. Gupta observes that the group’s acquisition plan is guided by two key factors
namely acquisitions in the core sector – fabric, readymade garments, files and tools business and
secondly and adequate return up for expansion is Raymond’s prime focus. “We are open to
acquiring both global and Indian brands but at the right price and on our own terms.” He notes
that the ColorPlus label will not disappear. The brand would have its own strategy and
positioning with the brand name continuing to stay, since it is a strong name in the market.
Raymond’s current management team includes. Mr. Mudaliar and Mr. Bhatia who would
continue to play their role in the operations. And the Rs. 1400 crore group does have the capacity
to make substantial acquisitions considering that it is flush with funds. After undertaking a
restructuring exercise and divesting its non-core businesses like steel and cement, the group has
garnered over Rs. 1,100 crore and it has the strengths to overcome competition. It has over 900
retail points inclusive of 270 plus exclusive retail outlets in its strong distribution network.
According to Mr. Gautam Singhania, chairman and managing director of Raymond Limited, the
group expects substantial synergies between the existing marketing and distribution network of
Raymond and the product portfolio of ColorPlus, which has about 125 retail outlets and another
15-20 franchisee outlets on the cards. ColorPlus would also benefit from Raymond’s global
reach. While the former has just one overseas outlet in Dubai, Raymond has 14 outlets in the
Middle East, Sri Lanka and Bangladesh.
Mr. Singhania is delighted over the acquisition of ColorPlus and has not ruled out new
acquisitions. As Mr. Gupta points out, winning markets not about produces alone but include
several factors like the product competition process, supply chain management, consumer
interfaces, retail expansion, building elements design and the capability to link back and front-
office functions. “As part of the learning curve we at Raymond have synergised all the
professional strengths of the group. The acquisition of ColorPlus is proof of our determination to
acquire leading brands having aspirational value like ColorPlus”
Raymond has a huge advantage over competition namely that of vertical integration right from
manufacturing to ready-to-wear, to distribution. The company’s understanding of its consumers
has helped it in building elements of design not only in the product but also in the manner in
which it is presented to the consumer, keeping in mind regional and cultural sensitivities.
Today, Raymond can boast of an extensive network of more than 13,000 retailers covering over
40 towns and cities not only across India but also in other cities of the world. It perhaps the only
corporate house that has been able to truly corporatise the concept of organized retailing on
national scale and internationally through its retail shops.
In the wake of the ColorPlus acquisition, CRISIL, the prime-rating agency has reaffirmed
Raymond non-convertible debentures and fixed deposit programmes at AA and FAAA
respectively. The agency says the cash outflow relating to the acquisition would have a marginal
impact on the company’s liquidity position and the ratings would continue investments and the
substantial non-operating income derived thereon.
Alluding to the Indian readymade garments industry. Mr. Gupta says that the industry did not
register the expected growth last year. This year it hopes to see a growth of 5-10 per cent and
Raymond expects to be a part of this.
Mr. Singhania sums up the outlook for Raymond in the light of this latest deal: “The acquisition
of ColorPlus will complement our existing portfolio of brands and is a step towards further
consolidating our position as a leading apparel.

Indian Express- Mumbai Newsline

January 01, 2003
SCENT OF A MAN
Let your presence linger on long after you’ve left a room. Well, it’s not personality that we’re
talking about here, but perfume. J.K. Helene Curtis Ltd has launched its Park Avenue Genuine
French Eau de Parfum for men. And they announce that the fragrance has “a citrus top note, a
hint of mint giving away to a black currant middle note on an amber and woody base”.
Developed by French fragrance house Robertet SA, it comes with a fragrance retention guarantee
certificate, promising to last for four hours. Offered in a sleek ribbed bottle, it is priced at Rs.125
for 50ml and Rs.200 for 100ml.

Raymond Maharaja Jiwajirao Scindia Gold Cup 2004

Product Profile
Premium Suiting Fabric- for Suits, Jackets, Trousers and Ethnic-wear
* Pure-Wool
From 22.5 to 13.5 micron wool and its combination with speciality fibres like cashmere,
angora, camel hair, alpaca, linen and silk.
* Polyester-Wool
Combination of fine polyester with 24.5 to 15.5 micron wool
and speciality fibres like cashmere, angora, camel hair, linen and silk etc.
* Polyester-Viscose - Tropical Suiting
Combination of fine polyester with viscose, modal linen and silk fibres.
Only Company in the world to offer such a wide spectrum of suiting and trousering
fabric in over 2500 designs and 10,000 colour-ways for all occasions, covering price
points* ranging from Rs.175 to Rs.25000/-.
(*) Maximum Retail Price Per Metre in Indian Rupees.
PRICE RANGE
EXOTIC FABRIC COMPOSITION
*
Super 200s Pure merino wool * * - to - Super
CHAIRMAN 160s category
12000 - 28000
COLLECTION

THE LINEAGE LINE

Rare Distinction Super 150s merino wool. 8100 - 8400
Super 140s merino wool blended with
Microlite 6610
cashmere.
Laurel Super 140s merino wool. 5555
Super 100s merino wool blended with camel
Camel Hair 2930
Hair.
Solitaire Super 110s merino wool. 2680
Privilege Super 120s merino wool. 3205
Royal Gold Super 100s merino wool. 2345
THE RENAISSANCE COLLECTION
A blend of fine polyester and Super 150s
Le Grande 4600 - 4700
merino wool.
A wool-rich blend of Super 140s merino wool,
Mandate 4100
cashmere and polyester.
A wool-rich blend of Super 120s merino wool,
Objet D'art 3430
cashmere and polyester .
A wool-rich blend of Super 120s merino wool,
Eminence 2975 - 3105
angora and polyester .
Super 120s merino wool and polyester in a
Grandeur 2480
wool-rich blend.
Super 110s merino wool and polyester in a
Passion 2155
wool-rich blend.
A blend of fine polyester and Super 100s
Acclaim 1914 - 1990
merino wool.
* Maximum retail price per meter in Indian Rupees.
** Probably only two other mills in the world offering in 200s wool category.

PRICE
COLLEC
FABRIC DESCRIPTION RANGE
TION
*
Wool rich Merino Blend of impecable character. Luxurious and soft 1241 -
Applause
yet wears well and Is easy to manitain. Easy care. 2205
Gold Leaf A collection in various blends , each having an unique ' 1685 -
Collection performance plus ' feature. 2490
A plain Super 100s pure new wool world class suiting in a 2153 -
Elation
spectrum of colours . 2202
Avant 1782 -
A blend of superfine polyester and Super 100s merino wool.
Garde 1890
Midas New luxury suiting in a unique blend of silky soft 'optium' fibre with
1865
Touch Super 110s merino wool and polyester.
1405 -
Innova Collection of innovative design specially made for generation next.
1583
Vicenza Peach skin fabric for a soft feel 1285
Silver
Fabric with a gentle sheen of satin . 1583
Leaf
Silver Exclusive designs in blacks and blues with lurex for "special 1500 -
Spark occasions" 1600
Silver 1526 -
Suits for the entrepreneur look
Oak 1549
Gold Leaf Premium jacketing fabric in a unique blend of capes wool,camel 1450 -
Jacketing hair and 100smerino wool. 1550
Premium 1270 -
Range of true jet-blacks.
Black 1309
Royal
Collection of colours & designs in polywool blend. 1220
Classico
1268 -
Ornate A unique range of soft handle fabrics made from capes wool .
1284
1543 -
Sherwani Fabrics that are ideal for ethnic wear.
1659
Royal A rich collection of lightweight poly-wool fabric , exclusively for 1151 -
Safari safaris. 1220
Premium
A Collection of colours for jacketing in All Wool and polywool linen 1115 -
Coat
blend. 1285
Length
1147 -
Celebrity Distinct range for classic business suits.
1153
Ceremoni
The ideal fabric for ceremonial wear. 1097
a
Coronatio 1100 -
Pure wool suits in Super 70s pure merino wool .
n 1200
 950 -
Noble Exclusive range for formal wear.
970
924 -
Unique range of super soft fabrics with fine wool in neutral and
Rejoice 957/font
earthy tones .
>
Regganz 920 -
Lightweight tropical poly-wool suiting in classic design.
a 928
Europa ' High performance ' fabrics inspired by European designs and 851 -
Collection colours . 1095
Penta A collection of exclusive trousering designs in a rich 55:45 poly- 973 -
Classic wool blend. 989
Kurta
Lightweight, woolrich fabric for winter shirts, kurtas & draw-strings 936
Cloth
849 -
Mondain Structured fabrics in a wide range of soild colours.
854
809 -
Spectra Superfine poly-wool in a spectum of unconventional colours.
1046
Premium 893 -
Extensive range of fine polywool blends for formal wear.
SL 955
Comfort 779 -
Polywool lycra suiting for real comfort .
Zone 1066
833 -
Diamond A collection of black, white, blue fabrics - ideal for suits .
905
Silver
A ' stain resistant ' fabric - '' Ideal choice for partygoers. " 762
Drop
716 -
Zip Travel friendly, resilient, crispy & soft poly-wool fabrics.
833
830 -
Tesoro An unconventional look that's ideal for the flamboyant dresser.
1031
La 882 -
Range of Black and white classic design in polywool blends
Nouvelle 903
873 -
Toscana Super Premium fabric for smart casual wear all round the year.
1000
Tropical collection developed in Linen and other rich blends in
682 -
Fusion wide array of earthy and contrast colours suitable for safaris and
873
jacketing.
643 -
Lorenzo A new Safari collection in polywool modal blends
797
833 -
Pantaloni Fashionable trousering designs.
878
Alta Vista New jacketing collection in finer merino wool and capes wool- 625 -
Jacketing polyester blemds. 725
Excellenc 609 -
A collection of fabrics for mid-range suits .
e 767
560 -
Eleganza Collection of elegant designs.
750
White 592 -
Collection of premium whites in poly-linen & poly-wool blemds.
Stallion 648
Revolutionary fabric made out of ideal blend of advanced Cool
569 -
Cool Plus Plus polyester and fine wool to keep you cool in extreme
639
temperatures.
Nova An exclusive jacketing collection available in a wide array of 550 -
Moda patterns and colours. 670
Superfine 530 -
Suits and trousers in lustrous 65:35 poly-wool blend.
Sapphire 698
503 -
Sphinx A wide palette of solids and melange colours for trousers.
581
* Maximum retail price per meter in Indian Rupees.

COLLEC PRICE
FABRIC DESCRIPTION
TION RANGE *
Sapphire Trouser fabric that's ideal to wear around the year. 480 - 520
Dress Linen-blended fabrics in natural colours that are ideal for
468 - 575
Circle safaris .
Spring
Collection of linen & linen look polyester /wool blend 440 - 450
Leaf
Range of fine polywool suiting in solid and melange shades for
Mangus 469 - 630
daily wear.
Giltedge Versatile range of fabric in a vast palette of colours. 450 - 600
Comfort
A collection of polyviscose blends with lycra. 432 - 478
League
Eloquenc
New collection of designs and shades for trousers. 435
e
Springfiel
A collection in various blends for safaris . 468 - 912
d
Dolce'
Extensive range for suits & trousers. 435 - 563
Vita
Terool A collection of mid-range fabrics for trousers . 432 - 450
Vincent Soft touch micro-sanded fabric in triple blend. 421 - 460
Fascinati Collection of polywool viscoise fabrics using finner fibre and
410 - 477
on yarn combinations for improved handle and finish
Cool Series of 100% cotton and polycotton fabrics in pastel shades
361 - 487
Edge for trousers .
Euphoria Ideal range of fabrics for trousers. 405 - 425
Tropique Cool wool range. 400 - 430
Premium poly-viscose collection in plains,structured & micro
Vintage 377 - 429
weaves in a wide range of colours.
Silver Arc Premium white range of fabrics. 387 - 469
Cool Club Range of fine polyviscose fabric in pastel shades. 351 - 380
Cool Fabrics in pastel shades with soft cotton finish & different
351 - 405
Comfort structures.
Triumph Fine polyviscose fabrics in trendy designs and colours. 341 - 373
Fine Polyviscose range in plains & designs suitable for
Advent 351 - 362
trousering.
Savoy Polyviscose fabrics in wide range of designs and colours. 335 - 351
Top line Polyviscose fabrics in wide range of designs and colours. 330 - 341
Sterling Range of lustrous polyviscose fabric for daily wear. 226 - 330
Special soft finish polyviscose trousering in plains, structured
Sensation 316 - 323
and fine checks in a wide range of colours
Wool
Mark Ideal for ' uniform ' blazers. 312
Blazer
Solarium A range of pearly whites 293 - 433
Super
A wide palette of colours in twill , matty and gaberdine. 273 - 307
Trovine
Tropicana A ideal range of lightweight polyviscose fabric for all seasons. 276 - 298
Bonanza New poly-viscose quality for trousering. 221
Trident /
Economically priced trousers in a wide range of colours. 183/194
Trovine
* Maximum retail price per meter in Indian Rupees.
Spring Summer 04 Collection