A

PROJECT REPORT

ON

BRAND ANALYSIS OF RAYMOND SUITING

SUBMITTED BY: Yashwant Singh SUBMITTED TO: Prof Deepali Singh

EXECUTIVE SUMMARY

I am presenting this report on customer satisfaction and brand perception, starts with the rational behind preparing the report, objective, a brief history of the brand and covers a wide variety of topics, such as making of the brand, product offerings, brand portfolio, customer perceptions, hr policy, advertisement strategy, etc.

All this research is then followed by a survey which reveals some facts about the

brands image in the minds of the consumer and satisfaction derived by the consumers

after purchasing the brand. At last I have concluded the report with my interpretation of the

whole thing and the information collected is presented with the help of charts and

diagrams.

RATIONAL OF MAKING THE REPORT

The American marketing association defines a brand as a name, term, sign, symbol or design

or a combination of them intended to identify the goods or services of any one seller or group

of sellers and to differentiate them from those of competitors.

Brand is the added value endowed to a product and services. This value may be

reflected as in how consumers thinks, feel or act with respect to a brand as well as the

prices, market share an profitability that the brand commands from the firm.

You can not understand consumers emotions, feeling, his aspirations and expectations

for a brand by reading books or theoretical knowledge; for that purpose you have to interact

and communicate with the consumer up close and personal and ask him directly or indirectly

about his perception of the brand.

In the same manner you have to approach the customers/consumers directly to

understand his experience of buying and using a product; and weather he/she is

satisfied with the whole process or not. This is very important for a marketer because

then he can design his marketing mix; according to the needs of the consumer.

The purpose of making this report is to understand the dynamics behind building a

brand image in the market and to understand the consumer’s perception about a

particular brand. If a consumer has a positive perception for a brand he/she will definitely

go and buy it and after buying it he/she matches his/her perceived level of satisfaction

with the actual satisfaction derived. That is how brand images are build. This report also

tries to analyze customer satisfaction for a particular brand.

OBJECTIVE OF RESEARCH

Raymond’s over the years have become synonymous for trust, quality and style. It is the

market leader in suiting and shirting’s, worsted fabric, tailored & readymade garments

with more than 60% market share. Since it’s beginning in 1925 till today Raymond’s

have understood the changing needs of consumers and catered to it.

The objective of this report is to understand the reason behind Raymond’s success and

consumer’s perception about the brand. When we talk about Raymond’s it is important to

mention other brands also which the Raymond’s group owns like manzoni, parx, zapp, be:

park avenue etc. This report considers consumer perceptions and knowledge about all these

brands and based on the information colleted, it tries to draw a conclusion regarding the whole

research. Also I have tried to give my interpretation and understanding of the whole report and

research

RESEARCH METHODOLOGY

TYPE OF RESEARCH: - Descriptive Research

Blend of Descriptive method has been used in this research for the collection of data.

As the research is related to the study of consumer satisfaction, which can more

effectively be studied through direct questions, personal interview and informal talks-

experimental research will not much effective. Also, considering the time constraints,

descriptive research leading to conclusive result is the most suitable design for this

research as it is related to why anything happening. It checks the behavior features of a

customer.

DATA COLLECTION METHOD: -

PRIMARY DATA:-Questionnaire Method

The data has been collected through questionnaire method. The questionnaire was designed

in such a way to cover as many aspects of consumer behavior as possible. Many

questions have been asked in it for feedback from customers. In it both opened ended

questions and close ended questions have been asked for study.

INTRODUCTION OF THE BRAND

Years ago, when the Singhania family was building, consolidating and expanding its

various businesses in Kanpur, one Mr. Wadia was in a similar manner setting up a small

woollen mill in the area around Thane creek, 40 kms away from Bombay. The

Sassoons, a well-known industrialist family of Bombay, soon acquired this mill and

renamed it as “The Raymond Woollen Mills”.

Around the same time, the Singhanias aimed to broaden their business horizons. The

family's sharp business foresight led to the acquisition of The Raymond Wollen Mills.

When the grandson of Lala Juggilal, Lala Kailashpat Singhania took over Raymond in

1944, the mill primarily made cheap and coarse woollen blankets, and modest quantities

of low priced woollen Fabrics

The vision and foresight of Mr. Kailashpat Singhania greatly helped in establishing the

J.K. Group's presence in the western region. Under his able stewardship, Raymond

embarked upon a gradual phase of technological up gradation and modernization;

producing woolen Fabrics of a far superior quality.

Under Mr. Gopalakrishna Singhania, the mill became a world-class factory and the

Raymond brand became synonymous with fine quality woolen Fabrics

When Dr. Vijaypat Singhania took over the reins of the company in 1980, he injected

fresh vigour into Raymond, transforming it into a modern, industrial conglomerate. His

son Mr. Gautam Hari Singhania, the present chairman and managing director has been

instrumental in restructuring the group. With the divestment of its non-core businesses,

the group has emerged stronger, with a more focused approach.

Today, with a 28 million-meter capacity in wool & wool-blended fabrics, Raymond

commands an over 60% market share in worsted suiting in India and ranks amongst the

first three fully integrated manufacturers of worsted suiting in the world. They are

perhaps the only company in the world to have a diverse product range of nearly 20,000

design and colours of suiting fabric to suit every age, occasion and style. We export

these to over 50 countries, including USA, Canada, Europe, Japan and the Middle East.

A 100% subsidiary of Raymond Ltd., Raymond Apparel Ltd. (RAL) ranks amongst

India's largest and most respected apparel companies. They bring to their customers the

best of fabric and style through some of the country's most prestigious brands- Manzoni,

Park Avenue, Color Plus, Parx, Be: and Zapp. Even as the brand keeps evolving through its cuts, styles, apparels and collections, one thing has remained unchanged over time is the unrelenting pursuit of excellence!

The company's Design Studio in Thane is well equipped with state-of-the-art

facilities, which stimulate and nurture the creative energies of the Design Team.

Their efforts are complimented by a research team, which keeps a close watch on

international fashion forecasts and design trends. A Design Studio has also been set

up in Italy recently, which has further enhanced our reputation in providing cutting

edge design solutions of an international standard. All their brands are available at

exclusive brand stores, The Raymond Shop· retail outlets and multi-brand outlets across

India and the Middle East. Craftsmanship, teamwork and professionalism have come

together at Raymond to weave tales of the finest Fabrics for over 80 years. Today, it has

gained its market leadership position primarily on the strength of its vast talent pool. The

company has always emphasized on the continuous and consistent up gradation of

manpower in order to fully embrace the rapid changes in the textile industry. It has

always fostered a growth-oriented environment enabling all its employees to fully realize

their potential.

PRODUCT OFFERINGS

Customers today the world over, are looking at one-stop shops that can fulfill all

their needs. Raymond, offer fully finished products that span various garment

categories that has been made possible by a seamless horizontal and vertical

integration across divisions. Their textile solutions encompass everything - from

worsted suiting to denim and shirting. Its not just range but volume and quality that

make them the textile major that they are today. Their plants have a capacity of 28

million meters (soon to be 31 million meters) in producing the finest worsted

fabrics and wool blends. The blends comprise of exotic fibers like cashmere, Mohair or

Angora or blends of wool with casein and bamboo or the ultimate in fine pure

wool ² Super 230s.The denim division has a capacity of 80 million meters of specialty

denims; not to mention our capabilities in producing shirting and carded woolen fabrics.

Their joint ventures with global leaders ensure that consumers have access to world-

class products.

Six states- of- the- art textile plants and four garmenting factories in India and Europe

support their design Studios in India and Italy. Being integrated suppliers of fabrics as

well as garments, Raymond offertotal textile solutions to customers

WORSTED Raymond is the world’s largest producer of worsted suiting fabrics, commanding an

over 60% market share in India. With a capacity of 28 million meters (soon to be 31

million meters), they are among the few companies in the world, fully integrated to

manufacture worsted fabrics, wool & wool blended fabrics. They also convert these

fabrics into suits, trousers and apparels that are exported to over 55 countries in the

world; including European Union, USA, Canada, Japan and Australia amongst others. A

trendsetter and an innovator in the Indian textile market, Raymond’s expertise has been

brought to bear by our in-house research & development team. Their innovations have

become milestones in the worsted suiting industry. They mastered the craft of producing

the finest suiting in the world using super fine wool count (from 80s to 230s) and

blending the same with superfine polyester and other specialty fibers, like Cashmere,

Angora, Alpaca, Pure wool and Linen.

Raymond is amongst the few companies in the world with the expertise to manufacture

even finer worsted suiting fabric- the Super 230s.Today they are recognized as a

pioneer in manufacturing worsted suiting in India, producing nearly 20,000 designs and

colours of suiting fabrics, which are retailed through 30,000 stores in over 400 towns

across India. From fabric to fine tailored clothing, Silver Spark Apparel Ltd. Marks the

Group's foray into the global apparel market.

DENIM Raymond UCO Denim has state of the art manufacturing facilities in Ghent (Belgium),

Giurgiu (Romania), Rockingham and Snyder (US) and Yavatmal (India). All their

facilities produce differentiated ring spun denim, specialty denim and other niche

products for the global fashion market. Raymond’s offer buyers of denim fabric, a state

of the art jean wear facility to convert fabric into high fashion garments at our jeans wear

facility 'Ever Blue' near Bangalore. The unit converts fabric to jeans wear supplying to

customers the world over.

SHIRTINGS Raymond and Cotonificio Honegger SPA, part of Gruppo Zambaiti have joined hands in the form of a 50:50 JV to manufacture and market high value cotton and linen shirting. Through this partnership, the textile majors have set up a Greenfield facility in India for manufacture of high-value cotton shirting fabric.

The joint venture company, Raymond Zambaiti Ltd, will combine Raymond·s expertise

in textile business, low cost production, technology and distribution with Italian strengths

of creativity, style, production know-how, quality finishing and lead times. The product

range will include a wide range of fabrics and finishing including cotton apparel fabrics

and high-end cotton suiting fabric produced at our newly set up state-of-the-art vertically

integrated plant in Kolhapur, India.

This facility caters to the international markets at the middle to the upper end brands and offers custom designed shirting products to our discerning international customers, which includes leading brands and retailers. The group is among the top three Italian high fashion cotton textile majors in the world, supplying fabrics to premium brands across the globe.

FORMAL SHIRTSTo style the corporate world, we have set up another facility manufacturing formal shirts

-'Celebrations Apparel Ltd.', in technical collaboration with a Japanese manufacturing

company- Flex Japan Company Ltd. Powered by advanced machinery and cutting-edge

infrastructure, the facility manufactures up to 6000 shirts a day.

TAILORED CLOTHING

Raymond manufacture suits, jackets and formal trousers through Silver Spark Apparel

Ltd., a wholly owned subsidiary of Raymond Ltd...

To meet the growing needs of our domestic and international clients, their plant has the capacity to produce 450,000 suits and jackets and 2.4 million trousers annually, a significant addition to their existing capacities at Thane near Mumbai. They not only produce engineered (fused) jackets but also have the capability to produce high -end half canvas jackets. This make-up offers the complete 'tailored' with 18-20 rows of blind stitch on the lapels, guaranteeing a roll on the lapel, which is unmatched. The jackets are hand sewn to complete the tailored look.

JEANS WEARState-of-the-art jeans wear facility 'Everblue Apparel Ltd.' has been set up in

Dodaballapur, near Bangalore. The plant has the capacity to turn out 3 million garments

per annum with integrated garment design, sewing and washing operations. An in-house

design studio and sampling unit compliments manufacturing capabilities. Dedicated

sample washing machines ensure quick turnaround of samples. Today, Raymond is the

developing and manufacturing partner of leading global brands. This has been made

possible by the optimal use of modern technology.

DRESS SHIRTS Raymond’s formal shirts have earned the reputation of being at par with the world's best.

This has been made possible through Celebrations Apparel Ltd, their new facility in

Bangalore, which has a technical collaboration with Flex Japan, one of the largest dress

shirt manufacturers in Japan. The plant has the capacity to manufacture over 1 million

shirts per year.

At Raymond’s they pay special attention to operations like armhole seam with single

needle machines. They possess the capability of manufacturing complete shirts using

single needle machines. Oil free sewing machines and a dust free environment ensure

spotless whites and light colour shirts. Threads, interlinings, buttons and other

embellishments are sourced from the best suppliers across the globe to offer our

customers the highest quality products. The layout of the manufacturing line has sufficient

flexibility to adapt to smaller runs and style changes. This flexibility permits the

manufacture of both fused and non-fised collars and cuffs as per our customer

requirements

Specialized machinery imported from renowned manufacturers from USA, Germany and

Japan comprise of automated spreading and cutting with an inbuilt system for matching

checks and stripes. Pocket creasing and pocket attach operations aided by SRP sewing

machines make our unit one of the best shirt making facilities in South Asia.

BRAND PORTFOLIO

To let customers soak in the brand experience Raymond’s have set-up exclusive brand

stores. Each store makes available to customers the entire product range of garments

and accessories. These provide customers a unique and leisurely shopping experience

while also presenting them a new look to suit every new occasion ² be it formal, casual,

outdoor, travel or occasion wear. Trust, Excellence and Quality. These are some of the

abiding values that have been associated with Raymond over the years. Today they

have the distinction of being the world's largest integrated producers of worsted suiting

fabrics. As an integrated player, they provide end-to-end fabric solutions right from

manufacturing worsted, woolen and linen fabrics to creating suits, trousers and apparel.

Their consistent focus on cutting-edge research and technology has resulted in

pioneering new products, which have set new benchmarks in the worsted suiting

industry in India. For example, they have the distinction of producing the finest suiting in

the world using super fine wool from 80s to 230s count and blending the same with

superfine polyester and other specialty fibers, like Cashmere, Angora, Alpaca, Pure Silk,

Linen etc. They produce nearly 20,000 design and colors of suiting fabric, that have

found their way in over 55 countries including the European Union, USA, Canada,

Japan and Australia among others. Even as Raymond products evolve with the times,

the brand still caters to the different faces of 'The Complete Man'- a man who is caring,

sensitive and places a huge premium on relationships.

Launched in 1986, Park Avenue provides stylish and innovative wardrobe solutions to

well-dressed gentlemen. As India’s premium lifestyle brand, its designs embody the

latest in international fabric, styling, color and fashion trends. They cater to customer

needs with formal clothing for varied occasions; be it for a day at office, high-powered

corporate meetings, family get-togethers or festive occasions. The shirts, trousers, suits

and jackets need little care and therefore convenient to carry, while traveling. The Park

Avenue Heritage Wear collection, which includes a range of kurtas & pajamas, made of

pure silk and handcrafted embroidery, has gained the appreciation of discerning

customers. Their creations can be found at exclusive Park Avenue stores and The

Raymond Shop· chain of stores.

The brand has received several awards. Recently, it had the honor of being the Most Admired Brand· at the Lycra Images Fashion Awards 2006, for the second consecutive year.

RETAILING The Raymond Shop is a premium retail store offering complete wardrobe solutions for

men, which includes top-of-the-line brands - Raymond, Manzoni, Park Avenue, ColourPlus

and Parx.

The Raymond Shop has been a pioneer in organized retailing in the country starting

around five decades ago. Their wide reach and range of products, makes it the largest

one stop retail network in the country over the years, The Raymond Shop chain of stores has become a yardstick by which other retail stores are judged and constantly sets new standards and creates environments that make shopping a pleasure.

The Raymond Shop network started with a small corner shop in Ballard Estate, Mumbai,

around five decades ago. It has grown tremendously with a dedicated team making it

the largest retail store in the country having more than 300 stores in prime locations, in

150 cities in India. Their overseas network spans 27 stores in 15 cities across the Middle East, Sri Lanka, Bangladesh and Nepal. The Raymond Shop retail chain occupies a space of 1 million square feet built-up area. Their wide reach all over the country across big cities and smaller towns allows us to reach a wide spectrum of consumers. They have now extended our reach with a presence in some of the leading Malls with new retail formats.

AD CAMPAIGNS

RESULT & ANALYSIS In response to the first question most of the consumers responded to Raymond, Siyaram and Vimal as major suiting and shirting brands out of 50 consumers

y 15 gave their first response as Raymond,

y 16 as Siyaram

y 9 as Vimal,

y 5 as Degjam

y 5 as Reid & Taylor.

¡2

86

42

When asked to rate different suiting and shirting

brands on the scale of 1-10 Following responses were

obtained on an average basisy Siyarams 9/10, y Raymond 8/10, y Reid & Taylor 7/10, y Mayur 7/10,y Vimal 7/10, y Digjam 6/10, y Dinesh

9

7

5

When asked about the major determinant behind

buying a Raymond product. The consumer

responded in following manner

y Quality 13,y Trust 11,y Affordability 11, y Style 6, y Promotion 3, y Variety of Merchandize 6, y Customer Service 0,

###

!

Following are the consumer response after buying a Raymond

brand.

y Excellent 13,

y Good 18,

y Average 15,

y Poor/Bad 4.

1054

5523

5501

432

10

67 8 97

@5

67 8 97

@1

67 8 97

@A

People buy Raymond Merchandize from

y Local shop owners 25,

y Raymond Shops 21,

y Exclusive Brand outlets 4.

D0

CB

C0

1B

10

B

0

Local shop

Raymond shop

Exclusive

1 C D

When asked about the source of information about Raymond

products, These were the responses of consumers.

y Friends 10,

y Family 10,

y Television Ad. 16,

y Print Media 12,

y Local Shop owner Ad. 2.

H1

G

1F

1E

1

10H

G

F

E

0

ISeries1Series

PSeries

Friend Family Television Prient media Local shop owoner

INTERPRETATION The complete brand Raymond, a hoary brand, has had the wisdom to ensure its quality and advertising move with the times even as they remain stylish and consistent. Raymond's has been the best in its category for ages. From babies and puppies to teachers and recently, dolphins, Raymond’s advertising has used many images to create its image of a complete man. I was married in 1982. And then I became history. No, this is not a column about matrimony or the attendant challenges. It is about a brand that most middle- and upper class Indians not only consider but also end up buying when they get married. You don't have to be an expert on sartorial elegance either to figure out that the brand that is top of mind is Raymond. Raymond the brand has been in existence for over eight decades now from 1923. To be precise, Raymond is unquestionably Indian’s foremost textile brand and a dominant market leader. The cornerstone of the brand has been the consistently superior product quality and numerous innovations that have ensured that the competition has been left behind. Very often, people in companies underestimate the value of advertising. After all, product managers believe that their mousetraps are far superior! And yet, I, for one, believe in the power of advertising - as a professional and as a consumer. More so in a category like apparel. What’s the difference between a shirt by Van Heusen and another by Zodiac? Whilst both brands would have diehard loyalists, the truth is that both these brands are buying the fabric from the same producer. The difference comes through in the designs, the advertising and the consequent imagery. And speaking of Raymond, one of the key factors behind its success is the advertising, quality, style, and innovation. To my mind, Raymond’s advertising has been the best in its category for ages. A. G. Krishnamurthy, the driving force behind Vimal's advertising for several years, will disagree but that can be a different story. And this has happened through different advertising agencies, which have handled the Raymond brand over the years .Whether it was the legendary Frank Simoes who for a short while handled Vimal and Raymond, Enterprise-Nexus with the likes of Mohammed Khan or R. K. Swamy BBDO, which has been handling it successfully for the last few years. In fact, while Vimal might have had a powerful tagline in "the looks of a winner," it was Raymond, which has been walking away with the advertising sweepstakes, in my book at least.

A flashback in fashion

The hallmarks of Raymond's over the years have been its sophistication and consistency. I

now that it is easier for people to remember the words of a song or dialogues from films than

it is to remember advertising slogans or taglines. And yet, one of the tests for an

advertisement is not only its recall but also its relevance to the target audience at that point in

time.

One of the brand's most visible and recalled slogans was "the guide to the well-dressed male. And then the advertising moved ahead to "the complete man." The complete man was a shift in the sense that it was focused on the consumer. He, not fabric, was the hero. I can still recall, almost frame by frame, a commercial, which was shot in black-and-white that ends on the beach with a guy in a wheelchair. The contemporary tone of voice and sophistication continue to be enduring features of the brand's advertising.

Feels like heaven Agencies love change, more so when the original campaign idea is inherited from a different

agency. And yet there can be another possible dimension to the complete man and that is

warmth. If you had to find one word that describes some of the Raymond TV commercials

over the last few years, that word would be "warm." I am sure all of us have enjoyed

the commercials of the baby, the bunch of cute puppies, the teacher coming for his former

pupil's wedding reception with flashbacks of the past or even the recent one featuring

dolphins.

Crucial to the memorability of these commercials is the slick execution. It is bad enough

working with celebrities and stars but I guess working with animals (however cute)

must pose its own set of challenges. Consciously one realises that the brand is targeting

the younger user. After all, we are a young nation that is becoming increasingly more

affluent and global even as we speak. This is perhaps more in evidence in the commercial

featuring a sceptical father and an intelligent albeit ill-kempt son looking for a job. The

callow youth is transformed in a Raymond suit and stuns his father. To my mind this is a

stunning commercial.

Yes, the brand has broadcasted its appeal from weddings to interviews to international travel. And it is not only bankers who wear suits now. People wear suits and classy clothes more often and the brand that will come to mind and into their wardrobe will be Raymond despite the presence of the Digjams, the Grasims, the Reid & Taylors, the Dineshs and Vimals of the world. Raymond today is a brand with global aspirations, excellent reach and the financial clout and business acumen to take over brands like Color Plus.

Aspiration is the key

Aspiration is one of the key drivers of successful brands. I remember a Mercedes Benz

commercial of a child in a womb that keeps repeating "When I grow up, I will drive a Mercedes." One of the greatest challenges of a long-lasting brand like Raymond is to remain attractive and aspirational to a new generation of users who are coming in every year. Will they continue to patronise the same brand of suiting that their father wore? The answer to that might well determine Raymond's future success

CONCLUSIONS

The Rs 1,500 crore Raymond Group is moving ahead in the 21st century in top gear as it sets

an aggressive expansionist eye on not only the domestic market, but also the global scene. I

don't think there are many companies in the world which are so integrated that they actually

manufacture worsted fabrics, woolen, linen and go to the extent of converting them into

readymade garments, suits and trousers,” From making coarse woolen blankets and

small quantities of low priced woolen fabrics in 1944, Raymond now makes the Super

220S the world's finest fabric retailing at Rs 1.05 lakh per suit length. Added to its fabric

base is the very impressive stable of men's RTW labels Park Avenue, Parx, Manzoni and Color

plus. Based on the responses collected after the survey the following conclusion can be

derived. Raymond has established its name and fame in the minds and harts of most of

the consumers. Its supreme quality and trust has been a major factor behind its success and

its advertising strategy has been rock solid and consistent over the years and that why most of

the consumers responded to Raymond immediately when asked about Suiting and Shirting.

One of the strong bastions of Raymond has been its advertising strategy Raymond

advertisements have made their place in our memories and heart from decades. They

always touch our hearts and explore our feelings and try to relate with us in one way or the

other.

From 1925 till today Raymond have developed a strong patronage among customers and

after buying any of the Raymond Merchandize customer came back again and again. All

though Raymond's have faced strong competition from Siyarams, Vimal & Mayur but it need not

to worry a lot about these because its name itself is sufficient to compete with any body.

SCOPE OF FUTURE RESEARCH

In this report we have analyzed the brand image, brand equity and brand awareness of

Raymond’s. We have also tried to find out the customer satisfaction for its products.

But its advertising itself is such a complicated and complex phenomenon in itself that there is a huge scope for researching its advertising and promotion strategy to understand that despite heavy advertising by all other competitors why Raymond have maintained its market share.

Also we could try to analyze the reasons behind the Raymond's approach of promoting its

brands like Manzoni Be; Zapp and Colour Plus differently and not under the Raymond's

tag because most of people are stile not aware that these brands belong to Raymond's

QUESTIONNAIRE

Q1 When I say suiting and shirting, which brand comes to your mind?

y Raymond·s

y Siyaram

y Digjam y Vimal y Dinesh y Reid & taylor y Mayur

Q2 How many brand under Raymond·s are you aware of?

y Parx y Park avenue y Be:y Color plusy Zappy Manzonni

Q3 Rate these brand in terms of quality variety and affordability on the

scale of

1-10.

y Raymond·s y Siyaramy Digjam y Vimal y Dinesh y Reid & taylor y Mayur

Q4 What makes you buy a Raymond product?

y Quality

y Trust y Experiencey Style y Affordabilityy Variety of merchandise offeredy Promotions y Customer service/ambience

Q5 How was your experience of buying a Raymond brand?

y Excellent y Good y Averagey Bad/poor

Q6 From where do you buy Raymond·s merchandise?

y Local shop ownersy The Raymond·s shopy Exclusive brand outlets

Q7 How do you get to know about Raymond·s?

y Friends

y Family y Television ad.y Print mediay Local shop owner·s ad.