Park Avenue (brand study) by Pratim Deb

A PROJECT REPORT ON PARK AVENUE BY RAYMOND

MASTER OF ARTS FASHION BUSINESS MANAGEMENT (2019-21) Submitted to – Dr. Sunita Konwar Submitted by: Pratim Deb

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Acknowledgement

I would like to express my deepest appreciation to all those who provided me with their kind support and valuable time to achieve my research objective.

I would like to express my gratitude for industry people who has helped me considerately to achieve my objectives. Special thanks to all the faculty members Mrs. Rachna Imam, Mrs. Swati Singh, Mr. Gaurav Vashisht, Mr. Sahil Arora, Mrs. Neelam Kapoor, Mr. Manobhav Verma, Mrs. Smriti Saxena, Mr. Aryapriya Ganguly, Mrs. Pragya and Mr. Inderjit Singh as it would have been impossible without their kind support and attention as well as their valuable time.

Furthermore, I would also like to acknowledge with much appreciation the crucial role of my classmates Ms. Righa Jhanji, Ms. Kannan Muthulaxmi, Ms. Chinmaya Sharma and Ms. Aayushi Sharma who supported me at every step of my work. I would like to extend my appreciation to my parents and my friends who motivated me to achieve my goals.

Last but not the least, I would like to express my special gratitude towards our Head of Department, Dr. Sunita Konwar for their kind co-operation and encouragement which has been of significant help in completion of this project and has helped us to polish our skills in incalculable and effective manner. It would have been impossible without her support.

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Title 1.

Rationale

2.

All about the brand (Raymond- followed by Park Avenue)  Origin  History  Vision and Mission

3.

Organizational Structure

4.

Merchandising Mix

5.

Marketing Elements

6.

Economic Environment

7.

Research Methodology

8.

Consumer Buying Behavior

9.

Retail Operations (Visual Merchandising)

10.

E- Retailing

11.

Human Resource Management

12.

Financials (Raymond)

13.

Corporate Social Responsibility

14.

Suggestions

15.

Bibliography

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Rationale (1)

Flagship Brand:

Park Avenue is the flagship brand of Raymond.

This signifies that it deals in the core products for Raymond. Raymond focuses on growth of its flagship brand as Park Avenue is most recognizable by its consumers. Park Avenue is the main focus for Raymond to diversify its portfolio by expanding internationally and also by adding new categories to increase a bigger piece of the overall industry in India. The brand offers total scope of men's apparels such as suits, formal and casual - shirts and trousers, accessories and innerwear portfolio, for example, briefs, vests, trunks, socks, thermals, exercise center vest, track pants and relax shirts. (Martins M.,2019) Park Avenue is also majorly responsible for revenue generation of Raymond FY18. The company’s net profit for the financial year 2017-18 jumped threefold to Rs 142 crore (approx. $ 21.5 million) as against Rs 30 crore in 2016-17 while its total income was at Rs. 6,025 crore. Park Avenue had contributed around 40 per cent to overall revenues from Raymond’s apparel business in FY18. (Kumar M.,2018)

(Source: JKHC.com)

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Rationale (2)

Launch of Women Wear:

Park Avenue Woman, from the house of Raymond, has been successfully dressing up women for quite some time. Much like its menswear segment, women’s wear too has been recording a steady growth. The western wear market

is moved in urban zones, with significant commitments from metros and scaled down metros. The size of ladies' conventional wear market is generally low because of two reasons: slanted proportion of working ladies to working men; the solid challenge from ethnic wear classes, for example, saris, salwar kameez, and so on. The development of combination wear, which joins the qualities of ladies' ethnic wear with formal western wear, is rising as an extra challenge for ladies' western proper wear players. (Kumar M.,2016) Park Avenue ladies' wear experiences stringent quality checks. What recognizes the brand's attire from others is the nature of textures, trims, present day fits and most recent innovation used to make the articles of clothing in vogue, sleek and high caliber. Up until now, Park Avenue ladies' wear is enormous in the North as style remainder is most noticeable in this zone. Likewise, ladies are even more ready to experiment here. Indeed, even the noticeable winter season enables closeout of high incentive to stock. (Kumar M.,2016)

(Source: Raymond.in)

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RAYMOND GROUP Raymond Ltd. is one of the world's leading producers of fabrics, claiming some 60 percent of the India’s worsted fabric in the suiting market. The company's Textiles division, which accounts for 50 percent of group turnover, produces more than 25 million meters of wool and wool-blended fabrics each year, placing the company at number three worldwide. Raymond is a major supplier to the global textile industry, providing fabrics and garments to more than 50 countries, including the North American, European, Middle East, and Japanese markets.

The company is also a major fabric innovator and is one of just two or three manufacturers in the world capable of producing the Super 210s and Super 220s grades of pure wool, made from 13.2 micron and 12.69-micron wool, respectively. (Raymondgroup.2019) Raymond itself is the flagship of the Singhania Group, a chemicals producer. Company is led by CEO Gautam Hari Singhania, great-grandson of the company's founder. Raymond is listed on several stock exchanges in India, including the Mumbai (Bombay) Stock Exchange.

Raymond is a diversified group with majority of business interests in Textile & Apparel sectors as well as presence across diverse segments such as FMCG, Engineering and Prophylactics in national and international markets.

Having enjoyed the patronage of over a billion of consumers, Raymond as a brand has been consistently delivering world class quality products to its consumers since the past nine decades. The Raymond Group is present in the FMCG business through associate companies – J.K. Helene Curtis Limited and J.K. Ansell Private Limited (JKAL). Through these companies, Raymond Group caters mainly to the male grooming segment through pioneering brands like Park Avenue and KS; home care segment through Premium brand and sexual wellness segment through Kamasutra brand. (Raymondgroup. 2019)

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The subsidiary companies of Raymond Limited are as follows:  Raymond Apparel Ltd.:

Raymond Apparel Ltd. has in its folio some of the most highly regarded apparel brands in India – Raymond Premium Apparel, Park Avenue, Parx and Noting Hill.  Color Plus Fashions Ltd.:

ColorPlus is among the largest smart casual brands in the premium category. The company was acquired by Raymond to cater to the growing demand for a high end, casual wear brand in the country for Men & Women.  Silver Spark Apparel Ltd.:

A garmenting facility that manufactures formal suits, trousers and jackets.  Ever Blue Apparel Ltd.:

A state-of-the-art denim garmenting facility.  Celebrations Apparel Ltd.:

A facility set-up for the manufacture of formal shirts.  Raymond Zambaiti Ltd.:

A Greenfield facility manufacturing high value cotton shirting.

Raymond’s wide range of products and services are as follows:  Fabrics (worsted, denim and shirting).  Apparels (tailored clothing, Jeanswear and dress shirts).  Brands (Raymond’s, Manzoni, Park Avenue, Color plus, Parx, Notting hill

and The Raymond Shop).  Furnishings.  Retail (The Raymond Shop and Brand Store).  Engineering (Files, Cutting wools and hand tools and Agricultural Tools

and Auto components).  Personal Care (Park Avenue and Kama sutra).

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IN HOUSE BRANDS- RAYMOND GROUP

(Source : Raymond.in) RAYMOND:

For over 80 years, Raymond is considered as one of the world’s premier manufacturers of worsted suiting fabric in fine grade wool; in the same league as the finest that Europe has to offer. Today, the Raymond product range includes pure wools, wool blended with exotic fibres like camel hair, cashmere and angora and innovative blends of wool with polyester, linen and silk. (Lavanya P. 2014) MANZONI:

Manzoni is a luxury lifestyle brand offering the discerning customer a super premium range of formal wear and sportswear including shirts, suits, trousers, jackets, ties and leather accessories. Our exclusive designs provide customers the best in contemporary international style and luxury. Each garment is crafted from the most exotic cotton silk, linen and superfine wool, the best-in-the-world linings, interlinings and threads sourced from around the globe. (Lavanya P. 2014)

PARK AVENUE:

Launched in 1986, Park Avenue is recognized as India’s most admired formal wear brand. It offers stylish and innovative wardrobe solutions to gentleman for all their dressing needs, be it Business, Evening Leisure, Travel or Heritage Wear.

The brand has received several awards. Recently, it had the honour of being the Most Admired Brand at the Lycra Images Fashion Awards 2007 for the third consecutive year. (Lavanya P.2014)

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 PARK AVENUE WOMAN: Park Avenue Woman a complete range of business Wear for women. It is designed especially for the working women professionals of today. Park Avenue Women epitomises the perfect look for the discerning, upwardly mobile, working women. It’s a celebration of women who are confident, independent and know what they want in life. It will offer a diverse range of formal wear and smart casuals across day, corporate, weekend and evening wear. (Lavanya P.2014)  COLORPLUS: ColorPlus is one of India’s premium and most respected casual wear brands offering customers a range of shirts, trousers, knits and survival gear. ColorPlus constantly innovating the processes and technologies which offering the buyers new world of comfort. Some of the technological innovations it is well known for; include thermo-fused buttons, golf ball wash, soft jeans, wrinkle free technology, stain-free fabric and the cone dyed technique. Adding new colour now to the woman’s wardrobe, Colorplus recently launched Colorplus Woman, an exclusive range of smart-casual clothing. (Lavanya. P.,2014)  PARX: Parx is a ‘premium casual lifestyle brand bringing customer a range of stylish semi-formal and casual clothes that reflects the easy, relaxed attitude of the energetic 22-30 years old. Parx was launched in 1999 to cater to the smart and fashionable clothing segment. (Lavanya P. 2014)  ETHNIX: Ethnix is a collection of ready-made ensembles with an accessory solution to make each occasion memorable. They incorporate Sherwani, Indo Western, Bandgala, Bundi, Kurta with churidar, Jacket and Suits. The Ethnix accumulation is motivated by the masterful structure and shading blends taken from the topics of Baroque and Mosaic as weaving or prints. (Lavanya P. 2014)  NOTTING HILL: Notting Hill has an excellent combination of fashion, quality and affordability. It is a complete ‘value-for-money’ men’s wear brand with fashion, fit, styling and affordability as the key differentiators. The brand will offer a wide range of accessories such as cufflinks and ties among others.” (Lavanya P.2014)

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PARK AVENUE Raymond initiated the entire business of developing the menswear apparel business through the introduction of its first end, Park Avenue. The readymade garments division has since then growth rapidly. It has created many a pioneering trend such as ready to wear suits. Raymond introduced Park Avenue to offer men "Complete Wardrobe Dressing Solutions". The name "PARK AVENUE" was influenced by an elite, high street in Manhattan and is one of the most prestigious brands in the Raymond Apparel Ltd. portfolio. (Raymondgroup.2019)

(Source: self) Today, Park Avenue is among India's leading Men's "Ready Made Garment" brand. It enjoyed the Raymond Heritage and took the values of trust, integrity, quality and excellence. Park Avenue launched Women's range in 2007 catering to the need in the western formal wear segment. Innovation has been the brand's major strength. Park Avenue boasts of a wide distribution network with presence in more than 565 'The Raymond Shops', over 50 Exclusive Brand Stores, over 5 Exclusive Woman brand stores and more than 656 Multi-Brand Outlets. Park Avenue also enjoys its presence in Large Format Stores Like Shoppers Stop, Lifestyle and Central. Park Avenue Exclusive Brand outlets are equipped with a warm & friendly ambience, trained sales staff to help & guide customers and exclusive collection offerings to deliver the best brand experience to the consumer. Park avenue initially catered in providing complete wardrobe solutions to men. As it witnessed immense growth in corporate world for women they launched park avenue women. (Raymondgroup.2019)

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VISION Park Avenue started as a formal wear brand with a goal to provide complete wardrobe solutions to men. Park Avenue always believed in offering high standard customer service & delight. Keeping these values in mind, Park Avenue Exclusive Brand outlets are equipped with a warm & friendly ambience, trained sales staff to help & guide customers and exclusive collection offerings to deliver the best brand experience to the consumer.

Eventually, recognizing the increase in working class women in India, Park Avenue, in 2007, extended to Park Avenue Women. This brand manages corporate and formal wear segment for women who likes to dress stylish and young. (Kumar M.2018) Recently, they extended to casual wear and FMCG products for men and women. They are emerging as a very innovative, trendy and approachable brand for people. (Kumar M.2018)

MISSION Park Avenue will majorly concentrate on MBO and internet business. It will likewise include new classes in loungewear like boxers and thermals to obtain at any rate, 2 percent piece of the overall industry by 2021. Park Avenue as of now has 98+ exclusive stores in India and 30 abroad in business sectors like West Asia, Nepal, and Sri Lanka. It intends to build its general number of EBOs to 200 by 2020. (Kumar M. 2018) Park Avenue will likewise enter the Middle East market with a store in Sharjah in UAE. In addition, the brand is wanting to invasion into the south and east African markets for development as it plans to produce 10 percent income for its top line from global markets. (Kumar M. 2018)

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Organizational Structure

(Source: Crimnigeria.com)

           

Board of Directors: Gautam Hari Singhania Managing Director: Gautam Hari Singhania Brand Director: Sharad Walia Brand Director: Kiran Kalbag Brand Director: Hetal Kotak Business Head: Rajeev Singh Assistant Vice President: Surabhi Negi Marketing Lead: Pawan Thukral VM head: Rashmi killedar Retail Head: Alok Kumar National Sales Manager: Raj Panchal Manager Design (Park Avenue Woman): Ashutosh Murarka

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MERCHANDISING Merchandising Classification Classification of products according to their Stock Keeping Units (SKU’s) gives a detailed prospective over how Park Avenue products are placed in their retail outlets which helps to determine essential and its most-selling products. This study can help us evaluate what are the things which is helping the store to indulge, attract, promote and satisfy the customer.

This study was done on one of the exclusive brand outlet of Park Avenue which is located in Connaught Place, New Delhi.

In this research, we would be able to analyse classification of products as to how much percentage of which merchandise is being brought up in the store. It caters to apparels and accessories for men. Apparel occupies 70% of the store and Accessories occupies 30%. The store is spread across 2 floors and is divided up by 34% (Work), 32% (Play), 32 %(Celebrate), 2% (Luxus) and 2% (VM). Outlet has an urban living vibe, smart storage spaces for accessories and has redefined trial room experience.

•

Work collection represent the core products of Park Avenue. It includes suits, formal shirts, formal trousers, formal shoes, ties, belts and cuff-links.

• Play collection represents the semi-formal apparel collection which includes casual shirts, casual trousers, casual shoes, sunglasses, belts and duffel bags.

• Celebrate collection represents the casual collection which includes attires for different occasions such as blazers, semi-formal shoes, party-wear shirts and trousers.

• Luxus is the premium collection which includes high end collection and a wall is dedicated in order to showcase luxus collection of Park Avenue.

(Source: quickcompany.com)

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Park Avenue

Apparels (70%) Formal (26%) Shirts (9.8%) Blazers (8.2%)

Trousers (7.6%) Waistcoats (0.4%)

Accessories (30%)

Casual (22%)

Celebratory (22%)

Shirts (6.7%)

Shirts (8.5%)

Blazers (3.4%)

Blazers (6.5%)

Trousers (2.4%) Jeans (5.2%)

Trousers (7%)

T-shirts (3.2%)

Shoes (15%)

Casual (8.3%)

Ties (6.4%)

Cuff-links (3.8%) Wallets (2.2%) Giftsets (2.6%)

All products of Park Avenue are manufactured and marketed by Raymond Limited.

Formal (6.7%)

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Fashion Triangle Triangulated data representation for a category of a product under different levels of hierarchy is known as fashion triangle. It generally describes how any product is categorized under different quality parameters. It can be distinguished under styles and sizes of the product.

Formal Shirts (Men) Park Avenue has a huge collection of formal shirts. Collection has different styles and is available in many comforting sizes, various patterns, eye catching colours, unimaginable fits and reasonable prices.

HIGH

Sizes:5

Rs. 3299- Rs. 3699

Styles: 2

SEMI

Rs. 2399- Rs. 3199

Sizes: 7 Styles: 4 BASIC

Sizes: 7 Styles: 6

Rs. 999- Rs. 2299

Elegant formal shirts with non-wrinkle high quality fabric, innovative designs and splashing colours.

Formal shirts with great quality fabric, simple designs, different collars and hems.

Simplistic Formal no – spill shirts with great fabric quality.

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Basic

High

Semi

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Formal Trousers (Men) Park Avenue caters majorly to the formal wear segment. Formal trousers are a major product category which is available in various styles and fits.

HIGH

Sizes:5

Classy formal trousers with non-wrinkle high quality fabric, innovative designs and multi-colours.

Rs. 3899- Rs. 4399

Styles: 3

SEMI Sizes: 7

Rs. 2399- Rs. 3799

Styles: 6 BASIC

Rs. 1899- Rs. 2299

Sizes: 7 Basic

Styles: 7

Semi

Formal Trousers with high quality fabric and innovative designs.

Subtle and simple trousers with amazing quality fabric and ravishing colours.

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High

Suits (Men) Park Avenue Suits refers to the core product and has tremendous high quality blended fabrics. Following is the fashion triangle of suits categorized according to its prices and styles.

HIGH

Rs. 3899- Rs. 4399

Sizes:6 Styles: 1

SEMI Sizes: 6

Rs. 3899- Rs. 4399

Styles: 5 BASIC

Sizes: 7 Styles: 7

Rs. 3899- Rs. 4399

Stunning blazers and trousers with blended high quality fabric, comfortable inner lining, body-fit silhouettes and impressionable look.

Suits with high quality fabric, innovative prints and designs, and multiple styles.

Simplistic suits as comfortable wear with innovative designs and prints.

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Basic

High

Semi

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Production of Apparels Park Avenue apparels majorly focuses on providing best distinction amongst silhouettes, fits and comfort. Park Avenue deals more in formal apparels and provide its customers with simplistic and trendy attire for their work wear.

This study is done to analyse to choose one category of apparel and analyse its major components for its production and manufacturing.

Different Components of a Basic Shirt

Components of a Basic Shirt Machines required for making a shirt  Plain (lock stitch) sewing machine  Over lock/edge neatening sewing machine

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   

    

       

Flat lock machine Button holing machine Button attaching machine Feed of the arm m/c  Accessories used for making a shirt Fusible interlining Sewing thread (40/2 or 40/3 or 50/3): Matching color Label: Main label, size label, care label Button: Plastic or wooden or horn Motif  Trimmings used for making a shirt Neck board Back board Collar insert: Usually plastic Hang tang Tag ping Price tick Tissue paper Butter flies, etc.

Individual parts of basic shirt: Collar

Parts of collar Pocket styles

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Cuff styles and types

Cuff styles Sleeve styles

Yoke styles

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Supply Chain Management Supply chain management is a process to ensure that supply chain of a company is efficient and cost-effective. This includes every step to transform raw materials into the final product. Park Avenue has vertically integrated units for garment manufacturing. It produces world’s finest worsted suiting fabrics. (Self-analysed) Park Avenue manufacturing team primarily blend the fabrics for higher quality cloth material for apparels including suits, blazers, formal shirts, formal trousers and ties. Park Avenue has one of the largest integrated composite textile mills for manufacturing worsted fabrics in Jalgaon (Maharashtra), Chhindwara (Nagpur) and Vapi (Gujurat). All the plants are self-sufficient and provide staff welfare measures such as education, housing, recreation and support systems for employees.

Raymond is producing 80,000- 90,000 metres of poly-wool fabric per day through their manufacturing units. High tech machinery can help to create finest fabric in the world with highest count of 250 which comes from eleven point fourmicron wood. (Self-analysed) Sourcing Manufacturing process at Park Avenue (Raymond) begins with sourcing the best quality fabrics such as wool, polyester, silk etc. from around the world especially merino wool, which is outsourced from Australia is used to create finest quality worsted fabric. Silk and polyester is outsourced from China and some of it from India as well. (Self-analysed)

(Source:asktradingltd.com)

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Production Production stage involves various steps in order to create the finest quality fabric.

First step is scouring which refers to the cleaning of wool in order to make it into a garment. Park Avenue (Raymond) uses state of art machines which helps recover under 30 gms of grease from every kilogram of wool which ensures the natural impurities from raw wool such as grease oil, fats, dirt, dust and oil stains are removed systematically and efficiently. Around 14 tons of wool is scoured on a daily basis at the Vapi plant, Gujarat. (Self-analysed) Next step in the production process is known as gray combing. This process helps to make wool top from the scoured wool. There are different stages like cleaning, parallelization and individualization under this step. Exotic fibres such as cashmere, bamboo, mohair and angora are blended with wool to curate an impeccable quality of blended fabrics. Next step includes tow which helps to create polyester top. (Self-analysed)

(Source: Raymond.in)

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Dyeing Dyeing is an intricate process to obtain the right shade of colour in the garment.

Park Avenue uses eco-friendly dyes which are used to dye the tops made from wool and polyester in different shades as required using the best technology. This step includes addition of very specific chemicals and is carried out at fixed temperature to bring out the lustre and life of the fabric.

(Source: textilemerchandising.com)

Recombing is the next step which in the process of blending the fabrics. Short fibres and entanglements are removed from the fibres in this process. Ratio as to how much fabric has to be used is decided in this step. (Self-analysed) Spinning Spinning is the process where the tops (blended fabrics) are converted into yarns.

Sub-process called steaming is done to stabilize the twist in the yarn and to reduce the yarn snarling effect. Steaming is carried out at 70-80 degree Celsius. (Selfanalysed) To maintain the strength of the yarn a process called auto-winding is done remove the defects in order to make the yarn more durable. To increase the strength of the yarn doubling is done in which parallel winding of yarn is carried out and afterwards, the process of twisting takes place. After all these process yarn has the appearance and strength required to carry out the process of weaving. (Selfanalysed)

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(Source:Raymond.in)

Weaving Yarn created is further moved to the warping area. Warping refers to the parallel winding of yarn from its cone onto a warp beam. These beams are further takin into the weaving area. Using rapier and air jet looms the yarn is weaved where fabric is formed with interlacement of two or more set of yarns referred to as warp and weft. Online monitoring system for weaving named as barco helps with the smooth process of weaving. Selvage has the woven brand name.

Mending is a process of improving the defects manually.

Sampling Sampling unit is a facility that develops various pioneering innovations by providing immense number of samples in different colours for the customer to choose from. Samples have superlative finishes which has highest and finest quality of blended worsted fabrics. (Self-analysed) Finishing Every yard of fabric is finished with care. The whole process is carried out in two sections namely wet section and dry section. In the wet section, the fabric is treated with various chemicals to enhance the feel of the material where as in the dry section lustre and sheen are the primary focus. There are two types of finishes, chemical finish and mechanical finish. Procedures like flame radiant finish, water repellent finish and anti-microbial finish helps to maintain the natural properties as well as serviceability of the fabric. (Self-analysed)

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Quality Checks Quality checks department finalizes the product by ensuring that the quality parameters are fulfilled. There are various devices to check the quality of the fabric. (Self-analysed)

(Source:Raymond.in)

Folding and Packaging In this section the fabric is carefully folded and packed to further send it to the warehouse for the final dispatch. (Self-analysed)

(Source:Raymond.in)

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Dispatch The packaged product is then loaded into trucks from the warehouse for further distribution of the products to different channels like exclusive brand outlets, multiple brand outlets, franchises etc. (Self-analysed)

(Source:Raymond.in)

Quality Defects Quality parameters play an essential role to maintain the standard of the product.

There are various types of defects that can impact the production process irrevocably.  Cutting defects- Under cut, over cut, frayed edges etc.  Sewing defects- Needle damage, stains, wrong stitch density, thread breaks etc.  Seaming defects- Mismatched seam, uneven width of inlay, wrong seam stitch etc.  Assembly defects- Mismatched trimming, garments part shaded, inner lining incorrectly positioned, lining too tight etc.

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Woven Fabric Defects Variation in weft yarn

Colour Bleeding/Poor Wet fastness

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MARKETING MIX  Product Mix: Park Avenue has an incredible reputation for formal wear section for corporate average workers as men's clothing and an aspiring FMCG brand.

Raymond, the greatest Indian worsted fabrics and suiting brand, possesses Park Avenue.

• • • • • •

It gives beautiful and innovative dressing items for Men and Women. It has placed its items in the market as English tasteful men's wear image.

Aside from textures, the organization likewise has an immense assortment of FMCG items in its promoting blend under the name J.K Helen Curtis.

Park Avenue items incorporate antiperspirant, scents, cleansers, hair styling gels. The items have exquisite and classy pressing to give them a universal feel. They have an immense and diverse collection of apparels which includes suits, blazers, shirts, trousers which are tested and brought to the standards of highest quality. They initially started catering to premium segment but after understanding the Indian market they started making products which are affordable for middle class as well. Further they grew into FMCG. (mbaskool.com) The hair styling gels include Wet look, Rugged hold, soft hold, Shampoos Shaving: Cream, gel, foam, after-shave lotions Deodorant: A wide range of both men and women, divided under premium, pure, classic heads.

Soap: includes variants like acti cool, luxury, good morning, cool blue, storm Talc: Classic, Coolance, Good morning Perfume: Onyx, stellar, four seasons, zen, sail, original 9 to 5.

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PRODUCT MIX (Apparels) Category                

Jackets Waistcoats Blazers Suits Shirts Trousers Jeans Shorts Lounge wear Shoes Women Dresses Ties Wallet Cuff Links Belts Sunglasses

Pattern

Fits

 Printed

 Casual Fit

 Stripes

 Slim Fit

 Solid

 Super Slim Fit

 Checked

 Regular Fit  Smart Fit  Low Rise tapered  Tapered Fit  Neo Fit

(Source: Raymondnext.com)

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MARKETING MIX

 Price Mix: There are three main pricing strategy: Market skimming Penetration pricing Competitive pricing Park Avenue Apparel generally follows the competitive pricing but for some exclusive categories like ready to made and Park Avenue luxus, they follow market skimming. For FMCG products they follow the strategy of market penetration strategy as they want to channelize their products to lower middle and lower classes as well. (Self-analyzed) The fabrics under the Park Avenue brand name is mainly targeted towards the middle class and younger target groups. It prices its products competitively as a part of its marketing mix pricing strategy, while keeping intact the high quality that Raymond group delivers. The Park Avenue brand mainly targets groups from the urban areas of the country. The company also provides FMCG products, priced on the lower side while maintaining high quality. This leads to high volume sales and high turnover for the company. The loyal customers are less price sensitive while the less loyal ones tend to jump from one brand to another.

In general, Park Avenue products are perceived to be affordable by masses. (Selfanalyzed)

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MARKETING MIX  Place Mix: Park Avenue items are accessible in every significant tier 1 and tier 2 cities and towns in India. Raymond has a solid appropriation which makes its items easily accessible wherever crosswise over India. The organization opened its first retail location in Mumbai. Before long the comparative achievement followed in the abroad market. The items under Park Avenue brand are sold in 560+ Raymond shops, 50+ restrictive brand stores, 656+ Multi chain stores and online stores. (Raymond.in) Park Avenue distributes its FMCG items through little retailers, scientist stores, corrective stores, departmental stores, hypermarkets and online stores. They have a vast channel of online retailing which makes it easier to supply its products to customers. Park Avenue supplies products on websites like shopersstop.com, myntra.com, flipkart.com and so forth. (Self-Analyzed)

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MARKETING MIX  Promotion Mix: The brand has been shy in terms of promoting its brand for quite some years now.

With time, Park Avenue has come out of its shell and adopted various marketing strategies to scale up its brand awareness among the consumers. It has launched several ad campaigns, which have made its way to the hearts and minds of the people through mediums like print, digital and electronic. Ads are shown on television various news, business channels, displayed on billboards at popular places, fashion magazines and newspapers.

Park Avenue has leveraged the social media platform to advertise their products via Twitter, Facebook, and YouTube. It has its own website that acts as an information hub for customers to check out Park Avenue. It has increased the brand loyalty among men and elevated its level in the market. It’s parent company the Raymond group has achieved great feats in the industry. It was ranked 23rd as the “Most Trusted Brand of India” by The Brand Trust Report 2014. This places Park Avenue at an advantageous position over some of its competitors.

Word of mouth has played a very important role in promoting its fabric and FMCG products. In an industry filled with clichéd ads for deodorants, which shows women swooning over men once they use a deodorant, Park Avenue reinvented and repositioned itself in the minds of the consumers. The ad featured Farhan Akhtar in a refreshing ad, which mentioned the benefits of using a deodorant and headlined with a tagline: “Always fresh, always on”. (SelfAnalyzed)

(Source: Raymond.in)

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SEGMENTATION Segmentation and Basis of Segmentation Segmentation is the process of dividing set of people to understand and find our target group. Segmentation is quantifiable and the result will be in numbers/figures.

This segmentation is for people who chose to wear Park Avenue which is a Corporate, Formal and Casual wear brand.

There are several norms taken into consideration before we find the target group: Geographic Geographic segmentation is done on two basis i.e. urban and rural. Park Avenue choses their Target Group as urban upper middle class men who can afford to pay well.

According to 2017 census, In India urban population is 33.29% Region: Urban

Urban Population

Urban

Rural (Source:Worldometers.com)

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Demographic Demographic segmentation is defined as a market segmentation method based on variables such as age, gender, income etc. This segmentation helps organizations understand consumer behaviour accurately that in turn helps them perform better.

To find the target group of park avenue I had to focus on age as well as income group. Age, because people from middle class and above are the target group of Park Avenue and Income, since park avenue offers premium products which can’t be afforded by most people in our country. (Self-analysed)

Urban Population

25-54 yrs. others

(Source:Worldometers.com)

So, Park Avenue’s target group would be people from the age of 25-54 years who belong mostly to urban areas and semi urban areas as well.

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Socioeconomic Socio-economic segmentation includes income, education, etc.

Park Avenue focuses on fashion formal wear enthusiasts who like to wear stylish clothes for work.

INCOME GROUP LIG MIG HIG Premium

(Source:Worldometers.com)

 14% of population is the target group of Park Avenue on basis of above factors.

Target Group

Target Group

Others (Source:Worldometers.com)

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SWOT ANALYSIS SWOT analysis of Park Avenue examinations the brand/organization with its qualities, shortcomings, openings and dangers. In Park Avenue SWOT Analysis, the qualities and shortcomings are the inside elements while openings and dangers are the outer variables.

SWOT Analysis is a demonstrated administration structure which empowers a brand like Park Avenue to benchmark its business and execution when contrasted with the contenders and industry. Park Avenue is one of the main brands in the way of life and retail division. The table beneath likewise records the top Park Avenue contenders and explains Park Avenue advertise division, target gathering, situating and Unique Selling Proposition (USP).

Strengths: 1. Park Avenue increases in a wide conveyance coordinate with nearness in more than 580 'The Raymond Shops.

2. 95 Exclusive Brand Stores of Park Avenue.

3. Elite Woman brand stores and more than 400 Multi-Brand Outlets makes simple accessibility.

4. Park Avenue is the one of the main brands in the men's wear portion.

5. The brand utilizes Aggressive notices and brags of prevalent quality and structure.

Weaknesses: 1. Rivalry from independent strength stores.

2. Worldwide nearness of the brand is constrained when contrasted with a couple of other global brands.

Opportunities: 1. Entry into tier 2 and tier 3 cities.

2. Coordinated effort with outside players in view of a national brand.

3. Extraordinary offers for corporate and business foundations.

Threats: 1. Increment rivalry in the residential market because of countless conventional wear clothing brands coming up.

2. Changing rules and guidelines in the texture business.

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Boston Consulting Matrix

Boston Consulting Group Matrix: The Boston Consulting Group’s product portfolio matrix (BCG matrix) is designed to help with long-term strategic planning which helps a business to consider growth opportunities by reviewing its portfolio of products to decide where to invest, to discontinue or develop products. It's also known as the Growth/Share Matrix. (Hanlon A.) 

1. Dogs: These are products with low growth or market share.



2. Question marks or Problem Child: Products in high growth markets with low market share.



3. Stars: Products in high growth markets with high market share.



4. Cash cows: Products in low growth markets with high market share.

(Hanlon A.)

Market Growth Rate

Relative Market Share

Stars

Question Marks

Cash Cows

Dogs

Star Products:  Park Avenue’s Formal Shirts, Trousers, Blazers, Suits, Tops and Fragrances are the major selling products which signifies that the company should invest in its star products which would help them generate greater revenues. Company should look forward to coming up with more styles and categories under this group of product. (Self-Analyzed)

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 Above matrix suggests that products (mentioned above) have high relative market share as well as high market growth rate which indicates that the demand of products would be preferred the most amongst other products and also has a great demand in the market respectively. They may generate cash but because of fast growing market, stars require huge investments to maintain their lead. If successful, a star will become a cash cow when the industry matures. (Self-Analyzed) Question Marks:  According to BCG matrix, Park Avenue’s Casual Trousers, Shirts, Shorts, Dresses (Women) are the question mark products which indicates that they have a low relative market share and high market growth rate. This represents that the market of these products have a higher demand but Park Avenue has less share in comparison to its competitors. There is no specific strategy which can be adopted. If the company has dominant market share, then it can adopt expansion strategy, else retrenchment strategy can be adopted. (Self-Analyzed)  Park Avenue should focus on increasing its depth in these products by launching more such products and promoting them on various social media platforms. Company can invest more in these products as it’s a promising field for growth. (Self-Analyzed) Cash Cows:  Park Avenue’s casual T-shirts, waistcoats and bathroom essentials and grooming accessories fall under the category of cash cows. Cash cows require little investment and generate cash that can be utilized for investment in other business units. These SBU’s are the company’s key source of cash and are generally the core business. (Self-Analyzed)  Products falling into the category of cash cows depicts that the company can invest money because they have low market growth rate and high relative market share.  These products usually help in stabilizing strategies. When cash cows lose their appeal and move towards deterioration, then a retrenchment policy should be pursued. Greater sales of these products can help the company to yield higher revenues. (Self-Analyzed)

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Dogs:  According to the matrix, Dogs represent businesses having weak market shares in low-growth markets. They neither generate cash nor require huge amount of cash as an investment. Due to low market share, these business units face cost disadvantages. (Self-Analyzed)  Park Avenue’s skirts, inner wear, belts and lounge wear fall under the category of dogs. Retrenchment strategies should be adopted because these firms can gain market share only at the expense of competitor’s firms. Effective marketing can help bring out these products in the question marks. Dog products should be avoided and minimized in the organization.

(Self-Analyzed)  Company should divest money in these category of products and should also liquidate their market share in such products. (Self-Analyzed)

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Brand Building

Park Avenue awards digital marketing and media buying mandate to Kinnect.

Kinnect, formerly known as Social Kinnect, has announced that it would be handling the digital marketing and media buying campaign for Park Avenue’s apparel business (Raymond Ltd.). Kinnect has been chosen for digital marketing and has been handed over the mandate to handle their businesses. Kinnect is delighted to come on board as Park Avenue’s digital agency amongst the multiple agencies that pitched for the desired account.

(Source:Agencyreporter.com) "Digital has become the primary medium for influencing fashion trends and buying behaviour, and Kinnect’s expertise in the fashion retail space makes us the ideal partner for Park Avenue’s digital journey," Rohan Mehta, CEO, Kinnect. This strengthens Kinnect’s association with The Raymond Group across Park Avenue, Raymond Realty, Raymond Rewards and Raymond Custom Tailoring.

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Brand Building

Raymond partners with SAP to boost innovation at its FMCG division.

Raymond partners up with technology giant SAP to develop vigorous digital presence for its Fast Moving Consumer goods(FMCG). This digital transformation would help the company to generate higher revenues. The company’s apparel brands include Raymond, Park Avenue and ColorPlus. It also owns JK Helene Curtis, which sells Park Avenue deodorants. (Anand J.) Raymond has also signed up for SAP’s S/4HANA platform, which will bring efficiency to its business, unparalleled innovation and accelerated business growth. (Anand J.) “Digitisation is not a matter of choice but a strategic priority. With the existing SAP association, we are confident to lay a digital foundation, that in-turn will act as a catalyst for our future growth,” said Giriraj Bagri, president and group chief executive for FMCG at Raymond Ltd. Increase in the digital presence would help company to yield higher income. (Anand J.)

(Source: Unsplash.com)

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Brand Building

TikTok Ads gets BC Web Wise on board as digital agency.

Social media platform TikTok has signed up with BC Web Wise as the agency partner for its advertising solutions arm TikTok Ads. While TikTok has gained popularity in the Indian market, it has had its challenges with the ban on its status a couple of times. Having said that it is the most downloaded app in the country and has over 200 million users making it a force to reckon with if you want to engage the digital audience. (Malvania U.) Web wise has devised innovating campaigning for brands like Park Avenue in its award winning campaign, Voyage to Sunburn that used creative technology that integrated social and the on-ground event to drive eye-balls and store off-takes to Voyage, making Park Avenue a very youthful brand. (Malvania U.) Tiktok would provide a robust social media presence for web wise, thus creating a huge impact on the people on different social platforms.

(Source: Articleagenda.com)

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Product Line Extension Park Avenue showcases fashion that will ‘knock your socks off’.

Park Avenue launched neo fit in their portfolio in trousers and suits which is stylish, trendy and edgy in design and distinguishes under slim fit category. There is a shift in trend away from buying a two piece or three piece to a standalone jacket. Office wear is getting relaxed and is about mix and match. (Kumar M.) Mridumesh Rai, Brand Director, Park Avenue, says, “We are strong in men’s formals like shirts, trousers, suits, jackets. Our shirts are about fashion formals.

It’s about taking a formal shirt and making it fashionable. We have a new fit in trousers. It’s called the neo fit. It caters to the younger professionals. It has been noticed in catwalks all over the world”. (Kumar M.)

(Source: Raymondnext.com) Offers (Neo Fit Collection) Shop Park Avenue neo fit collection products online or in-store and celebrate Mondays with one of the following surprise offers: •

2 CCD Couples vouchers • Movie Ticket Vouchers for a Couple.

• Dinner Coupons for INR. 2000 at any restaurant in your locality.

• Worth INR 1500 at any nearby salon.

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Customer Retention Strategy Loyalty Programs Loyalty Programs are designed to retain customers and encourage them to continue with their services. They help in building brand communication with its customers and maintain a healthy relationship with the customers as to fulfil their future demands. Park Avenue has categorized their loyalty scheme under different tiers which gives benefit to every customer per rupee spend. (Selfanalysed)

Membership Tiers SIGNATURE

PRIVILEGE

PRESTIGE

ENROLMENT

Rs. 30,000 and above (Annual purchase or single invoice) Earn four points on your each spend of Rs 100 Rs. 15,999-29,999 (Annual purchase or single invoice) Earn two points on your each spend of Rs 100 Rs. 14,999 (Annual purchase or single invoice) Earn one point on your each spend of Rs. 100 Rs. 3000 and above in a single invoice

A customer can avail these benefits by simply logging on to Raymond Rewards website. These programs allow customer to accumulate points through every dime that they pay. Afterwards they can redeem their points for different rewards:

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

Shop and redeem your Rewards points at all stores in India.  Pool the points you’ve earned with up to 4 friend’s /family members.  Use your reward points to shop during End of Season Sale at select stores.  1 Rewards Point = 0.75 Re. (Self-Analyzed)

(Source: Progressivegrocer.com) Above the Line and Below the Line Strategy

Above the Line marketing Above the line marketing refers to the direct marketing strategy adapted to communicate with the masses through promotional messages which do not focus on a specific target group. The idea behind this is to engage customer’s attention through different media channels such as television, print media etc.

Park Avenue generally uses every kind of promotional strategy in order to create brand visibility in the market. Park avenue’s advertisements can be noticed in newspapers, magazines and advertising campaigns on television.

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(Source: advertgallery.com) Below the Line marketing Below the Line strategy refers to activities which are more focused and directed towards specific group of customers. They are highly targeted, with advertisements being created keeping in mind the demographic and psychographic characteristics of particular customer segment.

Park Avenue uses below the line advertising though outdoor campaigns and advertisements, direct marketing, sponsorships and in-store promotions. Return on investment is higher and campaigns can be tailored for different subsets of consumers within a single segment.

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(Source:media4growth.com) Park Avenue also conducted a zenith dance group performance at the time of launch of their new perfume collection voyage which was appreciated by its customers.

(Source: Parkavenuegrooming.com)

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Park Avenue Luxus Park Avenue Luxus is a ready to wear premium suit brand that provides its customers with minor customisations. The shop in shop identity is product driven as well as experience driven and is based on the threefold process of buying a suit.

The first stage is Choice, where the customer decides what style they prefer.

The second stage is Evaluation, where the customer makes their decision based on construction, fabric, cut and fit.

The third is customisation where the fit may be personalized and the customer can consider buying accessories to compliment the look.

The retail display is designed to recreate the feeling of going through a personalized exclusive walk-in wardrobe. It comprises of compartments that can be opened to reveal more collections. The cabinet is a minimal display with layers of information where the retail experience is led by knowledgeable sales person that guides the customer through the 3-fold process of buying a suit that feels like it was made for them. (Self-analysed)

(Source:interrobang.com)

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Social media presence Park Avenue has huge presence when it comes to social media platforms. Park Avenue has created different hashtags such as #parkavenuestyleup, #parkavenuegrooming, #neweravenues and #parkavenuebeerstyle to seek attention of public on different social media platforms.  #parkavenuestyleup is the hashtag which popularizes the brand on social media.  Park Avenue has a wide network on Facebook [539,384 (Likes)], Twitter [4825 (Followers)], Instagram [35362(Followers)], Youtube [923 (Subscribers)], yepdesk.

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Important keywords for Park Avenue  Buy best quality formal shirts/ trousers online.  Buy best quality formal suits for men and women.  Buy best quality worsted fabric blazers for men and women.

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Although, Park Avenue uses almost every online channel such as myntra, amazon, shoppersstop, flipkart etc. to popularize and sell its products, brand presence of Park Avenue or Raymond on different search engines is very less in comparison to its competitors.

Van heusen is the most visible website followed by Allen Solly and Louis Phillipe on google.

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Economic Environment Impact of demonetization Mridumesh Rai, Brand Director, Park Avenue explains how demonetization had an immediate impact on sales of Park Avenue.

Rai says, on 8th November, “Our daily sales took a beating. It was frustrating especially after a good Diwali. But compared to our competitors, we rebounded quickly within two weeks. We have been meeting our budgeted numbers. Of course, we could have done better. What worked in favour of Park Avenue was our strength in suits and jackets. These are must-buys for the wedding season,” (Kumar M., 2017) Despite the challenges Park Avenue would continue to invest. Company would invest in stores. Park Avenue will also make the product portfolio sharper and innovative. Post-demonetisation we were one of the most visible brands on TV. We did not cut our ad spends. We truly believe you have to be on TV and advertising throughout the year.

“We will ensure our wardrobe share is maximised. Casuals will become a significant part of our business. Even in the current season, our EBOs have a significant proportion of casuals. Casual sell-through has been as strong as formals for us,” Rai sums up. (Kumar M., 2017)

(Source: Indiabriefing.com)

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Impact of Covid-19 Due to the pandemic caused by corona virus, Park Avenue (Raymond) which is recognized as one of the best producer of fabrics for menswear has shut down all its units i.e. manufacturing facilities and retail outlets situated all over India.

Company has disinfected and sanitized its offices and plants and has regulated ‘work from home’ policy for its employees.

Park Avenue (Raymond) has pivoted to use it factories to produce a suite of safety products to deal with covid-19 which it calls Complete care by Raymond. The new range of products include disposable and reusable masks, shoe covers, gloves and sanitizers.

The Park Avenue compact fragrances containers have been utilised to produce hand-sanitizers. Pricing of the products has been set reasonably for the people to purchase according to their needs. It is becoming the law of the land in states across the country for citizens to wear masks in public and include Maharashtra, Uttar Pradesh, Chandigarh, Odisha and New Delhi. (Lall P. 2020) Following is the list of products and their pricing:

(Source: ppe price list release)

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(Source: ppe price list release)

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Research Objective: To do a Study on Buying Behaviour of customers for Park Avenue Research Design: Descriptive Research Data Collection Method Secondary Data

Primary Data

Quantitative

Qualitative

Survey Open ended and close ended Sample Size: 250 Sample Unit: Male/Female (19-60+) Sample Frame: Delhi/Ncr Sampling Technique: Snowball Sampling, Judgemental Sampling.

Survey Open ended and close ended Sample Size: 250 Sample Unit: Male/Female (19-60+) Sample Frame: Delhi/Ncr Sampling Technique: Snowball Sampling, Judgemental Sampling.

Personal Inteview: 5 DILO (Day in life of a customer) : 5

Data Collection Method Online (Internet) Magazines Brochures Annual Reports Financial Reports Journals

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CONSUMER BUYING BEHAVIOUR Consumer Buying Behaviour helps us determine consumer’s point of view towards buying a certain product and its services. It generally contains 2 types of research.  Quantitative Research  Qualitative Research Quantitative Research: Quantitative Research is used to quantify the problem by way of generating numerical data or data that can be transformed into usable statistics. It is used to quantify attitudes, opinions, behaviours, and other defined variables – and generalize results from a larger sample population.

To understand it better, we created a questionnaire survey to examine the consumer’s responses to Park Avenue products and services.    

Sample Size: 250 Sample Unit: Male/Female (19-60+) Sample Frame: Delhi/ NCR Sampling Technique: Snowball Sampling, judgemental sampling.

Survey Analysis 1. What’s your occupation?

Occupation 10% 3% 9%

18%

6%

54% Entrepreneur

Service Class

Partnership

Student

Unemployed

Retired

Analysis: According to this primary research, we established that people who are working, belonging to service class of the society tend to choose Park Avenue (54%) followed by Entrepreneurs. (18%)

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2. What’s your age group?

Age Group 9% 3% 12%

54%

22%

11 to 18

19 to 35

36 to 50

50-60

60+

Analysis: According to this primary research, we established that people of age group 1935 (54%) tend to choose Park Avenue mostly followed by people from age group of 36-50. (22%) 3.What's your disposable Income bracket? (Annually)

Income Bracket 1%13% 3% 17% 35% 31%

1 lacs- 5 lacs

5 lacs- 10 lacs

10 lacs- 20 lacs

20 lacs- 35 lacs

35 lacs - 50 lacs

50 lacs+

Analysis: According to this survey, we gained information that 35% of people under the disposable income bracket of 5 lacs-10 lacs prefer to choose Park Avenue.

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4. How often do you shop for apparels?

Apparel Shopping Frequency 5% 13% 24% 25% 33% Twice a month

Monthly

Quarterly

Half Yearly

Yearly

Analysis: We can assess that majority of people go apparel shopping monthly (33%)

5. Have you tried Apparels from Park Avenue before?

14%

86% Yes

No

Analysis: We can assess that majority of people have tried apparels from Park Avenue (86%) whereas 14% people aren’t aware of its presence in apparel industry.

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6. What all Park Avenue products have you used?

Preferences 200 150 100

50 0 Blazers/ Jackets

Shirts/ Bandgalas

Trousers/Jeans Fragrances/ Deodrants

Accessories (belts/cuff links)

Grooming Acessories

Preferences

Analysis: We can analyse that customers generally choose Shirts (69.2%) with 173/250 followed by fragrances (50.4%) and blazers (49.2%) 7. What do you like about Park Avenue? (Multiple selections)

Preferences of customers 250 200 150 100 50 0

191 97

85

69

123

106

107

Preferences

Analysis: According to this sample survey, we can determine that people choose Park Avenue because of Garment Quality and Promotional Offers.

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8. On a scale of 1-5, How would you rate the post purchase customer services of Park Avenue?

Customer Satisfaction 140 120 100 80 60 40 20 0 Extremely Unsatisfied

Unsatisfied

Moderate feedback

Satisfied

Extremely Satisfied

Customer Satisfaction

Analysis: According to the reviews by people we can establish that people are satisfied with Post Sale services of Park Avenue.

Qualitative Research: Qualitative Research is primarily exploratory research. It is used to gain an understanding of underlying reasons, opinions, and motivations. It provides insights into the problem or helps to develop ideas or hypotheses for potential quantitative research.

Qualitative research helps to understand the behaviour of the consumer and why they choose Park Avenue. In order to do qualitative research for Park Avenue, we took the following measures:  Personal Interview  DILO (Day in life of)

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Questionnaire (Personal Interview) 1. What’s your age, gender, occupation and income bracket? (Approx) 2. How often do you go shopping for work clothes?

3. Which brand do you prefer the most?  Park Avenue  Arrow  Allen Solly  Louis Philipe 4. What specifically do you like in the above brand?

5. What was your expenditure at Park Avenue last time you visited Park Avenue?

6. What’s your budget when you go out shopping for work clothes?

7. As an innovative brand, Park Avenue generally provides its customer with DIY techniques for personalization of apparels, which its competitors doesn’t. How would you prefer your fits to be when it comes to work and casual wear?

8. There are certain areas where Park Avenue focuses for its recognition, how do you think as a customer you would suggest them to be more responsive?

9. What are post sale services that are provided by your chosen brand? And what could be better?

10.Park Avenue comprises of best quality fabric which is outsourced from different nations. Do you have any suggestions as for the brand to grow in terms of quality?

11.Park Avenue usually provides its men clients with full wardrobe and grooming solutions. Do you think it would emerge similarly for its women wear segment in India?

12.Do you think it should also target kids wear?

13.Waste management has been a major issue in India, Do you believe that sustainable fashion comes in picture when you are purchasing apparels and accessories?

14.Have you noticed how people from younger generations are dressing up these days? Do you think your chosen brand provides people with stylish and approachable fashion?

15.Do you think the pricing strategy of your chosen brand is affordable, reasonable and economical?

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Responses (1) 1.

2.

3.

4.

5.

6.

7.

28, gender: male, occupation: strategy consultant Once a year Park Avenue Quality of clothes 5000 INR 25000 INR Prefer fits to be customized to body size, which my personal tailor helps in achieving post the purchase.

8. Never heard from park Avenue ever after a purchase, there's not a lot of after sales service in clothing you can provide without violating individual space and privacy.

9. None expected 10.Yes, source locally made comfortable fabric as well within the countries of operations.

11.Could emerge, depends on product range, quality and innovation 12.Smart casual wear for kids is an untapped market, where park Avenue could really grow as a 'smart' brand 13.Would definitely go for a brand that is more environmentally conscious 14.Could do better, good looking and feeling options are always expensively priced. Reasonable price doesn't give either a good look or a good quality product. As a brand, there's scope in offering reasonable products which are flagship designs of the brand with at least a decent material 15.No. Explained above.

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Responses (2) 1. Age: 25 Gender: Male Income Bracket: 6 lacs - 8 lacs per annum 2.

3.

4.

5.

6.

7.

Half-yearly Allen Solly Durability, fabric, value for money Rs. 4000- Rs. 5000 Rs. 5000-Rs 10000 When it comes to work: I prefer wearing formals like shirts and trousers.

And when it comes to casual wear: I prefer wearing jeans and casual T shirts.

8. Park avenue can focus more on its grooming accessories like deodorants or after shave lotions etc.

9. So Allen Solly has their own website from where you can shop. Once you are happy with a product they also help you to find the nearest store where that particular product is available. You can track your orders as well.

10.Park avenue should focus on the colour bleeding part. As once I purchased two formal shirts and when I washed them, the colour of those shirts started bleeding and I lost 3-4 more shirts which were being washed along with them.

11.Yes, Park Avenue should start providing women with full grooming accessories as well as wardrobe because in India women have started working more as compared to the past! Moreover, after the knowledge regarding the equality of women has started going out more therefore they need a wardrobe for that as well.

12.I don't think so, since the body size of the kids keeps on changing and purchasing this expensive clothes for kids would be a wastage of money.

So I think investing in kid’s section would not be profitable for this brand.

13.I think sustainability does not come in most of the people's mind while purchasing any kind of clothing as today's youth mostly is more interested in the fashion and the style that they are wearing. Moreover,

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they prefer not to repeat their clothes so often. Whereas I would also like to add that fashion is a cycle of trend and the old elements are coming in trend now. So in today's time we can find both, people who value old elements as well as people who are interested in the current fashion trends.

14.Yes, Allen Solly is one of the updated brands in sense of fashion. It provides with casual as well as formal wears and it has completely different outlets for women and children as well.

15.Yes, I think the price range of Allen Solly is affordable for even a middle class family, especially when you are purchasing formal wear.

Responses (3) Age – 24 Years Gender- Female Occupation- Student Rarely Louis Phillipe Comfort and clothing material 4-5K 8-9K Comfortable They should be more active on social media portal and enhance digital marketing response.

9. I haven’t experienced any post sale service by them till date. I would suggest the brand to ask for reviews via text messages/Emails.

10. The brand can focus more on India fabric as will lead to better quality product with less costing.

11.Yes, they should surely provide full wardrobe and grooming solutions for women.

12. Yes 13. No I don’t think sustainable fashion comes in picture when you are purchasing apparels and accessories.

14. Yes, they have stylish and approachable fashion majorly for formal wear.

15. Yes, it is affordable.

1.

2.

3.

4.

5.

6.

7.

8.

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Responses (4) 1.

2.

3.

4.

5.

6.

7.

8.

30, Male , working , 30k per month Presently once in 3 months Allen Solly Nothing particularly None 5k Comfortable This survey is good beginning; I think park Avenue should rename or relaunch itself.

9. Generally, I buy from Allen Solly, they offer 3-6 months’ replacement.

10. None 11.That's great hope to see some offers and discounts and special attire for men on upcoming father's day and international men's day too.

12.I think first focus on niche product and market it then expands.

13.Nice thought, and yes it's already in, decathlon provides daily wear made of recycled plastic bottles and cheap price and great quality 14.Yes, style comes from within, attire just adds up to the mood and confidence.

15.Yes, I always buy cloths which are value for money.

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Responses (5) 1. 26, Male, IT services, 8-10 LPA 2. Twice a year 3. Allen Solly 4. Clothing quality, style and fit 5. 2000 INR - 3000 INR 6. 4000 INR - 5000 INR 7. My work usually does not involve formal wear, so I make it smart casuals and occasionally formals for meetings and town halls.

Casually, I enjoy wearing light, airy and comfortable clothes. The most important aspect of clothing should be comfortable fit, whether casuals or formals. Since comfort brings out the best in you.

8. Quality over quantity, focusing on speedy customer feedback and resolution.

9. Equipping stores with professionals for alteration and consultation.

Providing it for no or low charges makes sure customers feel happy about their experience, and are willing to come back for larger purchases as well (like shopping for occasions, marriages) 10.Park avenue provides standard quality products and should maintain that level.

11.Yes, It should and definitely it will grow, as more women are working for corporate industries and would like more options for themselves.

12.Definitely, since covering adult fashion and clothing would indeed bring demand for affordable and quality clothing for kids.

13.Yes, I agree. The better the quality of material, more the chances of using and reusing of the product.

14.More or less, it does provide in the lines of smart casuals and formals.

15.More or less economical, but worth the product.

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Characteristics of consumer of Park Avenue  Park Avenue is an innovative brand for young professionals who like to dress up in progressive and stylish wear for their work. People who aspire to become an entrepreneur or someone who needs their garments to present themselves as modern businessman should go ahead and try their apparels.  Park Avenue began in order to promote formal work wear for men. It extended its product line for formal work wear for women after recognizing growth in service class women in India. Thus, extending its product line category for its consumers.  Park Avenue is also channeling to people who want apparels for leisure purpose as well. They also provide its customer with a wide range of grooming solutions. With their wide collection of perfumes and deodorants they cater to the most of the population as they’ve kept the pricing strategy as penetration pricing.  Park Avenue generally provides its clients with DIY (Do it yourself) in which they can modify their garments according to their own preferences.

Customization of apparels has been a major choice of consumers which Park Avenue caters to.

Park Avenue has been communicating effectively and efficiently through their accessories and their apparels.

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Maslow’s hierarchy of needs Maslow Theory of needs proposes that human needs can be bifurcated into different categories such as food and water to abstract concepts such as selfactualization. According to Maslow, when a lower need is met, the next need on the hierarchy becomes our focus of attention.

There are five categories under this theory:     

Physiological Needs – food, water, shelter Safety Love and Belonging Self- esteem Self-Actualization

I believe, Park Avenue customers would fall under the category of self-esteem.

Esteem needs involve the desire to feel good about ourselves. Esteem needs include two components. The first involves feeling self-confidence and feeling good about one own self. The second component involves feeling valued by other people, that is, feeling that our achievements and contributions have been recognized by other people. When people’s esteem needs are met, they feel confident and see their contributions and achievements as valuable and important. People who are entrepreneurs or service class generally feel good about their way of living.

Thus, Park Avenue customers generally belong to the category of self-esteem.

(Self-analysed)

(Source: qz.com)

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Visual Merchandising Visual merchandising is the practice in the retail industry done in order to maximize sales by developing floor plans and three-dimensional displays.

According to my research, Park Avenue window would contain different elements:

Type of window

Straight Window Glass Façade Closed Back

Type of Merchandise

Men

Logo

1(Park Avenue)

Mannequin

3 (Abstract)

Type of Display

Related merchandise Display

Type of Display setting

Abstract

Props used

Mannequins, shoe rack

Lights

Bright

Focal Point of Window

Display of work wear

Name of season

Spring Summer collection

Offer/ Promotion

Promotion

Concept Note

Summer Collection, work from home, crease free collection

Tagline

Play the lead

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Visual Merchandising For photographic representation of the above data we have designed a visual merchandising window for spring summer collection. This would have all the three types of collections that Park Avenue product line has i.e. work collection, Play collection and celebrate collection. This kind of window would help the company to attract, engage and persuade customers to purchase its products.

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Human Resource Management Psychological Contracts Psychological Contracts are a set of promises or expectations that are mutually exchanged between parties in an employment relationship. Parties included are employers, managers, individual employees and work colleagues.

An individual’s belief regarding the terms and conditions of a reciprocal exchange agreement between the focal person and another party. A psychological contract emerges when one party believes that a promise of future returns has been made, a contribution has been given and thus, an obligation has been created to provide future benefits.

There are 4 types of psychological contracts:  Economic exchanges: Fair day’s pay for fair day’s work, short-term economic inducements in exchange for specified contributions, neither party has an obligation to maintain a long-term relationship, the employee is not expected to help colleagues or be concerned about the overall performance of the firm.  Mutual investment: Based on social exchange and involves long term investment and is similar to a high-commitment approach.  Under exchanges: Employee adopting a social exchange view and the employer adopting an economic view of the relationship; employees are expected to undertake broad and open-ended obligations in return for monetary rewards and no long term investment.  Overinvestment: This type of relationship is characterized by employees taking an economic view and employers taking a social exchange view; employers provide long-term job security and employees receive investments from the employer in terms of training but employees are not expected to go beyond their immediate job requirements.

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Park Avenue (Raymond) follows under exchanges form of psychological contracts where in the employees are being rewarded in forms of job security and career growth. Employees are considered to have a social exchange point of view and the employer is obligated to provide them with necessary perks and advances in form of career development and growth. Social exchange theory can offer some insights on the employee but it is not sufficient as a theoretical basis of psychological contracts as it misses out on the perceptual element of the contract.

(Self-analysed) Since, Psychological contract provides a platform for employer as well as the employee to mutually benefit because of the obligations, I believe that Raymond should follow the mutual exchanges/investments as it would help both the parties to commit for the work that they have been assigned and would maintain a healthy relationship between the employers and employees. Raymond is a colossal organization which primarily focuses on innovation. I believe they can innovate in terms of psychological contracts by providing a basis where in the employee feels obligated to work without keeping in mind the benefit for which they would be rewarded and similarly, employer feels obligated to incentivize employees according to their devotement and efforts for their work. (Self-analysed)

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Park Avenue (Raymond) motivates it employees by providing them with perks such as job training, educational assistance, international relocation which also plays as important part with dealing with its competitors. Whereas according to its employees, the company is paying less in terms of incentives according to its competitors which would affect the productivity of the work of employees. They might try to settle that with perks mentioned above but some employees would rather take money and invest in something like educational assistance on their own rather than relying on the company to do it for them. (Self-analysed) In a country like India, People would rather prefer money over any perk that is being offered by the company. So, Raymond might follow the under exchange theory for its international organizational set-ups but it should focus on incentivizing its employees with monetary rewards in India. (Self-analysed)

According to the reviews of its employees we can come to a conclusion that Park Avenue (Raymond) provides a great platform for career growth (Example: Providing on job training every 3 months and high sales pressure management) but is lacking in rewarding its employees with monetary benefits and incentives.

In my suggestion, Park Avenue can follow a policy wherein they could provide extra pay for extra efforts or extra pay for extra working hours as it would keep the employees motivated and would help them grow efficiently and effectively.

(Self-analysed)

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Midas Touch of Digitization Park Avenue is a known name in the Indian apparel industry. Raymond with an end goal to acquire advanced mechanization to the business procedure, the firm built up a versatile application called 'Midas' for its exchange accomplices. The application is an activity to enable the firm to interface retailers and sellers in the apparel and material space. Already, the company's retailers and discount players used to book arranges either in public exhibitions or by calling the business group. This occasionally prompted postponement in the affirmation of requests and late conveyance of products.

The Midas application empowers the channel accomplices of Raymond to place orders for a wide scope of various item classes. The application additionally empowers the brand to remain associated with its vendors just as make them mindful of the battles, limited time exercises, occasions and give them complete inventory perspective on the item accessibility. Today, utilizing the application, retailers or sellers can simply download the application and sign in utilizing preregistered client subtleties. Vendors can place orders from any place and whenever. The application gives moment affirmation and guarantees expedited service of merchandise. The application has helped popular anticipating for Raymond and thus diminished wastage in the framework. Because of this application, there has been a finished change in perspective in the business procedure commonly pursued by material vendors. Most fundamentally, this has given choice and availability of retailers under various discount players to Raymond which was not there before. It has empowered the organization to get associated with its retailers and sellers for the constant exchange and commitment. With the assistance of this innovation arrangement, the organization has produced business worth Rs. 60 crores inside a limited ability to focus a half year. (R. Srikanth,2019)

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Financial Highlights of the Company (2019)

Raymond Limited has been noticing a financial hike as it has been looking forward to expand their business. This section explains the financials of Raymond (Parent company of Park Avenue). In order to understand more about their business, this study would explain the following:     

Ratio Analysis Working capital calculations Current Ratio calculations Horizontal and Vertical analysis Revenue growth of Raymond and with its competitor Aditya Birla Group.

Authorized Capital

₹ 13,074,300,000

Paid up Capital

₹ 613,800,000

Total Revenue

₹ 34,405,200,000

Fixed Assets

₹ 11,178,000,000

Net Worth

₹ 13,688,100,000

Total Borrowings

₹ 26,844,900,000

Financial Statement Analysis and Ration Interpretations (Raymond Limited) Ratio analysis refers to a quantitative study to gain insight into a company's liquidity, operational efficiency, and profitability by studying its financial statements. Comparative data can demonstrate how a company is performing over time and can be used to estimate likely future performance.

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Profitability analysis

1. Net profit Margin Percentage (PM)= NI SALES

The net profit margin is equal to how much net income or profit is generated as a percentage of revenue.

YEAR2017-2018 PM

3.25%

YEAR2018-2019 2.25%

- Profit margin decreased in comparison to previous year by 1%.

2. Return on assets Return on assets (ROA) is an indicator of how profitable a company is relative to its total assets. ROA gives a manager, investor, or analyst an idea as to how efficient a company's management is at using its assets to generate earnings.

(ROA) =

NI

TOTAL ASSETS

YEAR2017-2018 ROA

214.57

YEAR2018-2019 223

-Return on assets has increased by 13.43 since previous year which indicates that the company is efficiently and productively using their assets.

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3. Return on Investment Return on Investment (ROI) is a performance measure used to evaluate the efficiency of an investment or compare the efficiency of a number of different investments.

(ROI) =

NI INVESTMENTS

YEAR2017-2018 ROI

9.65%

YEAR2018-2019 10.32%

Return on Investment is 0.67% which indicates that company has been successfully getting profits on their major investments.

RETURN ON ASSETS AND INVESTMENT IS ABOVE THE STANDARD WHICH IS LUCRATIVE FOR THE INVESTERS.

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LIQUIDITY RATIO ANALYSIS 1. CURRENT RATIO The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year.

(CR) = CURRENT ASSETS (CA) CURRENT LIABILITIES (CL) YEAR2017-2018 CR

YEAR2018-2019

0.69x

0.61x

-Current ratio is less than the ideal 2 x. Company needs to improve its liquidity.

2. QUICK RATIO The quick ratio is an indicator of a company’s short-term liquidity position and measures a company’s ability to meet its short-term obligations with its most liquid assets.

(QR) = CA-Inventory-PPE CURRENT LIABILITIES

YEAR2017-2018 QR

0.74x

YEAR2018-2019 0.96x

Company’s Quick Ratio has gone up. Company is timely covering its short-term debts.

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LEVERAGE/SOLVENCY RATIO ANALYSIS The solvency ratio indicates whether a company’s cash flow is sufficient to meet its short-and long-term liabilities.

1. DEBT TO EQUITY RATIO = LONG TERM DEBT COMMON EQUITY

It is a measure of the degree to which a company is financing its operations through debt versus wholly-owned funds.

YEAR2017-2018 DEBT TO EQUITY RATIO

0.14 x

YEAR2018-2019 0.31 x

Long term solvency [financial position] is really good as debt to equity is lower.

Company is utilizing more of its equity. Its financial risk has been increased, which is acceptable.

Company is low at risk and can easily meet its long-term debts.

Company can also get long term debts from its creditors.

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ACTIVITY RATIOS/ASSET UTILISATION RATIO ANALYSIS An activity ratio is a type of financial metric that indicates how efficiently a company is leveraging the assets on its balance sheet, to generate revenues and cash.

The asset turnover ratio measures the value of a company's sales or revenues relative to the value of its assets.

1. INVENTORY TURNOVER RATIO =

SALES INVENTORIES

YEAR2017-2018 Inventory ratio

turnover

3.21 x

YEAR2018-2019 3.09 x

The inventory turnover ratio is an important measure of how well a company generates sales from its inventory.

Inventory turnover lower than previous year. This represents lack of proper control or utilization of inventory. The company should churn the inventory in appropriately.

2. TOTAL ASSETS TURNOVER =

SALES TOTAL ASSETS

The asset turnover ratio can be used as an indicator of the efficiency with which a company is using its assets to generate revenue.

YEAR2017-2018 Total assets turnover

1.24 x

YEAR2018-2019 1.15 x

Company’s total assets turnover is declining which is not a good sign.

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Working Capital of the Brand

Working capital management is a business strategy designed to ensure that a company operates efficiently by monitoring and using its current assets and liabilities to the best effect.

The basic role of working capital administration is to empower the organization to keep up adequate income to meet its transient working expenses and momentary obligation commitments. (Tuovile A.) Factors which determine level of Working Capital:    

Nature of operations Opportunity Cost Scale of Operations Availability and Competition

Following are the calculations of working capital, current assets and current liabilities of Park Avenue from the year 2014-2019.

Particulars (₹)

2014-2015

2015-2016

2016-2017

2017-2018

2018-2019

Current Assets

2,70,73,20,0 2,85,97,80,0 2,96,16,20,0 3,43,21,00,0 4,01,79,10,0 00 00 00 00 00

Current Liabilities

1,93,08,70,0 2,16,12,40,0 2,80,56,90,0 3,44,44,30,0 4,13,36,70,0 00 00 00 00 00

Working Capital

77,64,50,00 0

69,85,40,00 0

15,59,30,00 11,57,60,00 0 -1,23,30,000 0

Current Ratios

1.40

1.32

1.05

0.99

0.97

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Working Capital 80,00,00,000 70,00,00,000 60,00,00,000 50,00,00,000

40,00,00,000 30,00,00,000 20,00,00,000 10,00,00,000 0

-10,00,00,000

2015

2016

2017

2018

2019

-20,00,00,000

WORKING CAPITAL TREND (2014-2019) Particulars (₹)

2017-18

2018-19

Difference (₹)

Change(%)

Current Assets Inventories

1,61,13,10,000 1,90,17,30,000 29,04,20,000

18.02

Trade receivables

1,08,59,10,000 1,25,95,10,000 17,36,00,000

15.99

Cash and Cash equivalents

8,67,90,000

12,60,70,000

3,92,80,000

 Inventories are increased o New EBO’s are opened. o More products are being launched.  Trade Receivables are increased o Goods are sold in credit o Sales are done in Credit  Cash and Bank Balances are increased o Company has been investing. They are looking forward to expand.

45.26

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Particulars (₹)

2017-18

2018-19

Difference (₹)

Change(%)

Current Liabilities Short-term borrowings

1,15,01,30,000 1,73,16,60,000 58,15,30,000

50.56

Trade payables

1,12,58,90,000 1,35,19,70,000 22,60,80,000

20.08

12,78,60,000

-11.53

Other current liabilities

1,10,89,50,000

98,10,90,000

 Short Term Borrowings are increased o They are expanding the operations.

 Trade Payables are increased. o Trade payables have increased which represents that the company has outstanding debts. They are expanding and investing more in advertising.

 Other Current Liabilities has decreased. o Company has raised funds through investment and deposits so company isn’t liable to pay the interest.

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Horizontal Analysis Horizontal analysis is used in financial statement analysis to compare historical data, such as ratios, or line items, over a number of accounting periods. Horizontal analysis can either use absolute comparisons or percentage comparisons, where the numbers in each succeeding period are expressed as a percentage of the amount in the baseline year, with the baseline amount being listed as 100%. This is also known as base-year analysis.    

Horizontal analysis is used in the review of a company's financial statements over multiple periods.

It is usually depicted as a percentage growth over the same line item in the base year.

Horizontal analysis allows financial statement users to easily spot trends and growth patterns.

It can be manipulated to make the current period look better if specific historical periods of poor performance are chosen as a comparison.

Vertical Analysis Vertical analysis is used to show the relative sizes of the different accounts on a financial statement.

Financial statements that include vertical analysis clearly show line item percentages in a separate column. These types of financial statements, including detailed vertical analysis, are also known as common-size financial statements and are used by many companies to provide greater detail on a company’s financial position. Common-size financial statements often incorporate comparative financial statements that include columns comparing each line item to a previously reported period.

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Vertical Analysis = Expense/ Total Revenue x 100

Expenses

Mar’18

Mar’19

Remarks

Raw Materials

48.47%

48.27%

Decreased

Power And Fuel

2.97%

3%

Increased

Employee Cost

13.15%

13.41%

Increased

Other Manufacturing Costs

6.85%

6.02%

Decreased

Selling And Admin Costs

3.42%

3.59%

Increased

Miscellaneous

16.12%

15.68%

Increased

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Cost of goods sold (COGS) Cost of goods sold refers to the amount of money gained from selling of the commodities.

COGS = Raw materials - stock adjustments / Sales Turnover

Following is a graph representing expenditure on COGS difference between Raymond and Aditya Birla Fashion retail for FY2016- FY2019.

COGS (ABG)

COGS (RAY)

2016

45.51%

47.19%

2017

45.41%

48.44%

2018

47.26%

46.90%

2019

48.41%

47.07%

Cost of goods sold 49.00% 48.50% 48.00% 47.50% 47.00% 46.50% 46.00% 45.50% 45.00% 44.50% 44.00% 43.50% 2016

2017 COGS (ABG)

2018 COGS (RAY)

2019

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Employee Benefit Expenses (EBE) Employee benefit expenses refers to the amount spend by the company above the employee’s salary in form of perks and incentives. Following is the comparison of EBE of Raymond and Aditya Birla Group.

Employee benefit expense 16.00% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00%

2.00% 0.00% 2016

2017

Employee Benefit Cost (ABG)

2018

2019

Employee Benefit Cost (RAY)

Common Size Financial Statement A common size financial statement displays items as a percentage of a common base figure or total sales revenue instead of absolute numerical figures. This type of financial statement allows for easy analysis between companies, or between periods, for the same company.

Park Avenue (Raymond) has Aditya Birla Fashion and retail as their direct competitor. This study would help us evaluate the financial statements both the company respectively.

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Common Size (Profit And Loss) March, 2017 Raymond

ABG

March, 2018 Raymond

ABG

March, 2019 Raymond

ABG

Income Sales Turnover Excise Duty Net Sales

97.14% 99.92% 0.69%

0.45%

96.45% 99.46%

Other Income

1.83%

Stock Adjustments

1.72%

Total Income

100%

93.01% 96.38% 0.11%

0.13%

92.90% 96.26%

94.45% 96.51% 0.00%

0.00%

94.45% 96.51%

0.57%

2.25%

0.44%

1.73%

0.77%

0.14%

4.85%

3.30%

3.82%

2.72%

100%

100%

100%

100%

100%

Expenditure Raw Materials

48.77%

Power & Fuel Cost

3.31%

Employee Cost

13.58%

Selling and Admin Expenses

45.34% 0.14% 10.63%

48.47% 48.85% 2.98%

0.15%

13.15% 10.37%

48.27% 49.44% 3.00%

0.14%

13.41% 10.86%

4.22% 4.32%

Miscellaneous Expenses

18.02%

Total Expenses

92.68%

3.43%

4.54%

3.59%

5.25%

32.40%

16.13% 29.37%

15.69% 26.96%

92.84%

89.99% 93.27%

91.02% 92.64%

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Operating Profit

5.49%

PBDIT

7.16%

6.74%

6.73%

8.28%

7.36%

7.32%

2.71%

8.98%

2.30%

10.01%

2.23%

Interest

3.21%

4.46%

2.89%

4.42%

3.34%

5.13%

PBDT

4.11%

3.65%

6.09%

3.76%

6.67%

3.36%

Depreciation

2.83%

0.81%

2.68%

0.66%

2.82%

1.77%

Profit Before Tax

1.28%

0.81%

3.41%

0.66%

3.85%

1.77%

PBT (Post Extra-ord Items)

1.28% 0.00%

3.41%

-0.92%

3.85%

-2.05%

Tax

0.39%

0.00%

1.05%

0.00%

1.23%

0.00%

Reported Net Profit

0.93%

0.81%

2.20%

1.58%

2.53%

3.82%

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CORPORATE SOCIAL RESPONSIBILTY

YEAR

2017-18

2016-17

2015-16

Actual CSR

1.72 cr.

1.53 cr.

0.57 cr.

Prescribed CSR

1.72 cr.

1.53 cr.

0.57 cr.

Estimated Prescribed CSR Budget FY 2018-19: INR 0.92Cr

CSR projects (2017-18) 1. Project on Beautification of Pokhran road: Project Description: The Company contributed to the CSR by spending some amount of money for Beautification of Pokhran road.

Project Budget: INR 0.32 Cr Project Location: Thane-Maharashtra

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2. Project on Resource center for blind: Project Description: The Company has spent some amount of money for Resource Centre for blind, thereby has contributed towards the CSR.

Project Budget: INR 0.25 Cr Project Location: Thane-Maharashtra

3. Project on Enhancing vocational skills: Project Description: The Company contributed the CSR in order to provide adequate knowledge of modern machines, techniques, style awareness, trims and soft skill for enhanced wage earnings.

Project Budget: INR 0.50 Cr

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4. Eradicating classroom hunger: Project Description: The Company added to the CSR by Eliminating study hall hunger and drawing in more youngsters (enrolment) to schools and guarantee to keep them in school (decrease dropout rate) by bolstering hot and nutritious late morning supper on each school day.

Project Budget: INR 0.16 Cr Project Location: Bhubaneshwar-Odisha, Jagatsinghpur-Odisha 5. Project on preventive healthcare: Project Description: The Company added healthcare to the CSR by Ensuring that the youngsters experiencing malignancy and making a trip to enormous urban communities with their folks: a) Have a clean and safe spot to stay; b) Facilities to get ready home prepared nutritious nourishment; c) Transport office to and from the medical clinic for treatment; f) Counseling to help adapt to the pressure of disease; g) Vocational preparing for guardians. The Company additionally spent on Ensuring that the kidney Patients get legitimate dialysis by giving 2 dialysis machines.

Project Budget: INR 0.47 Cr Project Location: Vellore-Tamil Nadu,

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6. Promoting arts and culture Project Description: The Company has contributed some amount of money for promoting arts and culture.

Project Location: Kochi-Kerala Project Budget: INR 0.10 Cr

CSR projects (2016-17) 7. Cattle Breeding Programme: Project Description: The JK Trust Gram Vikas Yojana aims to significantly improve the quality of life in rural areas through a strategically executed cattle breeding programme. Thus far, this initiative has provided breeding and veterinary services to 4.5 million people across 45,000 villages in 11 States of India.

Project Location: Thane-Maharashtra Project Budget: INR 0.24 Cr

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8. Promoting arts and culture Project Description: The Company has contributed some amount of money for promoting arts and culture.

Project Location: Kochi-Kerala Project Budget: INR 0.10 Cr

9. Employment enhancing vocational skills Project Description: Employment Enhancing Vocational Skills (2016-17) The Company has contributed some amount in Skill Tailoring Institutes. The Skill Tailoring Institutes in Patna, Jaipur, Jodhpur and Lucknow provides training in tailoring skills to marginalized women and youth, enhancing their livelihoods.

(Source:CSR Project, Maharashtra, csrbox).

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Suggestions for the brand  Branding is very out there, however not much focus on post purchase assistance.  Open more exclusive brand outlets as for its own recognition not just the parent brand.  Pricing of products may be fixed taking into account of big chunk of customers, means not only for affluent customers but for middle class customers also.  Pricing of products must be taken into account so that it suits large strata of society.  Should Integrate with other umbrella brands such as lifestyle and pantaloons.  Have a better loyalty program as current one provides 1 point for every 100 Rs spent.  More varieties/choices in apparels for women and kids.

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14.Martins M. Jun’9 2018, Raymond to double store count for Park Avenue, plans to open 10 stores abroad [Online] Available at: Fashionnetwork.com.

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