Raymond Group to foray into premium home decor segment

Mona Mehta
Posted: 2008-04-01 03:02:15+05:30 IST
Updated: Apr 01, 2008 at 0325 hrs IST

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Mumbai, Mar 31: Textile and apparel major the Raymond Group is planning to foray into the premium home décor segment by setting up ‘Raymond Be Home’ branded stores in India in 2008. The group is currently talking to Mysore-based Ripple Fragrances Private Ltd in order to sell ‘Iris’ lifestyle and wellness fragrance solutions through Raymond Be Home, according to sources. When contacted, Anil Malhotra, project head, Raymond Be Home, told FE, “Currently, we cannot disclose the details due to competitive strategies. We will inform when we are doing it.”

According to Kiran Ranga, managing director, Ripple Fragrances Private Ltd, “We are currently in talks with The Raymond Group for setting up Iris shop-in-shop concept within their upcoming ‘Raymond Be Home’ in the metroes. This will be positioned at the premium end of the home décor market. Apart from Raymond Be Home, we are also talking to Home Stop at Shopper’s Stop and Pantaloon Retail. We will soon expand our produt portfolio to include spa range of products as well.” The company is currently talking to Reliance Retail, where Iris branded products would be available. Branded home decor stores such as @home stores, Bombay Store, Spencers Mall in Gurgaon apart from two Akbarallys departmental stores (each in Fort and Chembur), currently sells Iris branded products, Ranga added.

Competition will, thus, start hotting up in the premium home décor segment in fiscal 2008-09. Retail competitor The Bombay Dyeing & Manufacturing Company Ltd too is planning to set up 100 company-owned ‘Bombay Dyeing’ concept stores in Tier I and II cities of India at an investment of Rs 40 crore. Bombay Dyeing’s first concept store has over 500 designs of bed & bath linen apart from a variety of collection to choose from for home decor. This year, the company would set up stores in many cities, including Kochi and Kolkata.

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Raymond Group to foray into premium home decor segment

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