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Raymond Ltd To Expand FMCG Business With ‘One Park Avenue’
With the launch of ‘One Park Avenue’, Raymond Ltd aims to revive its footprint in the Middle East, Bangladesh and Nepal. They also show keen interest in covering other South Asian markets in the next 6 months
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On 16th November 2017, Raymond Group announced its expansion in the male grooming portfolio with ‘One Park Avenue’, a customer facing initiative for Park Avenue’s range of men’s grooming products. The brand will soon make its way into international markets such as Middle East, Bangladesh and Nepal, with a phase 2 plan to enter South Asian markets of Sri Lanka, Bhutan and Myanmar in the next 6 months.
Launching the initiative, Gautam Hari Singhania, Chairman & MD, Raymond Ltd. said, “Changing customer preferences, improved lifestyles and growing consciousness among male consumers, presents us with huge opportunities in the FMCG space. After the acquisition of Ansell’s stake earlier this year, One Park Avenue is yet another significant step that will strengthen our FMCG play both nationally and internationally, which is an important driver for value creation for the Raymond group and an integral part of the Raymond Re-Imagined journey.”
Under One Park Avenue initiative, the brand will have synergies in terms of a unified Visual Identity, repositioning itself with a wider grooming portfolio, premium international packaging and innovative products. The overall brand architecture will have blue, white and black colours across product categories. Additionally, the entire range will be available through exclusive brand outlets of Park Avenue apparel along with other sales and distribution channels across India and international markets.
Present at the launch Giriraj Bagri, CEO – FMCG Business, Raymond Ltd spoke about exciting prospects for the FMCG business. He said, “At Raymond, we are leveraging synergies across our FMCG businesses to create a strong and monolithic FMCG play in our core categories. Simultaneously we are also utilizing cross-organizational expertise to bring in efficiencies and cost optimization to help us invest more aggressively towards newer initiatives such as ‘One Park Avenue’. The idea of One Park Avenue is built on unique consumer insights backed by strong innovation that will drive consumer acquisition and enhance consumer relevance for our lead brand Park Avenue. Going forward, we hope to clock exponential growth and hence a coherent unified premium imagery and identity of Park Avenue has been created for offering the same product experience globally.”
The fragrances under One Park Avenue include a new range of perfumes and a new positioning statement “Unleash your X factor”. The new Eau De Parfums are blended by global perfumers with exotic ingredients and are available in 50ml and 100ml priced at Rs 399 AND Rs 699 respectively.