Early realisation of creating partnership with entrepreneurs has helped Raymond achieve the fastest roll-out of a strong franchise network across emerging towns while building brand recognition in these markets. The company believes that this focus on potential emerging towns, strong partnership, early mover advantage, stringent product quality parameters, and customer-centric approach will take it to newer heights
India’s emerging towns have become the new destination for the retail sector, given the increasing propensity of customers who are getting richer and increasingly willing to shell out money to shop at modern retail formats. Indeed, the next growth story is expected to come from emerging towns, which are poised to see a growth of 50-60% in modern trade over the next few years, substantially higher than key metros, at the time when the Indian retail market is expected to touch USD 1.3 trillion by 2020.
Raymond has sensed the big opportunity that exists in these emerging towns. The company has embarked upon a store expansion plan to cover emerging towns to cater to the demand for premium products from these markets. The company has introduced a mini store format, Mini TRS (The Raymond Shop), especially for Tier IV and V towns. The company has identified another 800 emerging towns which have the potential to have a TRS.
The company believes that this focus on potential emerging markets, strong partnership, early mover advantage, stringent product quality parameters and customer centric approach will take it to newer heights. Talking about the rationale behind launching Mini TRS, Mohit Dhanjal, Director-Retail, Raymond Ltd., says, “With urbanisation, the emergence of over 1,200 new urban towns having population above 50,000 shows potential to support The Raymond Shop (TRS). Having its presence in over 400 of these towns, Raymond felt a need to evolve and develop a new retail format with the right consumer proposition for the remaining ones.”
Bu hikaye The Franchising World dergisinin June 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Franchising World dergisinin June 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
What Terrible Bosses Can Teach You
Sometimes the best insights come from the worst experiences. Here, six founders dish on their awful former bosses—and how they learned to do better.
Quick service restaurants' revenue, margin under stress; recovery seems distant: Report
The rising popularity of food aggregators has hurt dine-in sales of quick service restaurants QSR) and has also fragmented delivery sales
Louis Philippe and Peter England Debut Exclusive Outlets in Mauritius
Aditya Birla Fashion and Retail Ltd. (ABFRL) launched Louis Philippe and Peter England, its distinguished menswear brands, to the vibrant retail landscape of Mauritius in collaboration with Jetha Tulsidas.
Yum Restaurants India Exits Devyani International
According to the block deal data available on the National Stock Exchange (NSE), Yum Restaurants India offloaded 5,30,83,330 shares, amounting to its 4.4 per cent stake in Devyani International.
LG ELECTRONICS ENTERS SELF-LAUNDRY SERVICE IN INDIA, TO INVEST $4 MN IN 2024
Leading home appliances maker LG Electronics India announced its entry into the self-laundry services space, where it is planning to invest $4 million (around Rs 33.2 crore).
CarzSpa outshines the Rest
Established in 2006 by Anckur Sama in Gujarat, CarzSpa has risen as the premier car detailing franchise, experiencing exponential growth across India and Nepal. Renowned for its high-end premium detailing services, including paint protection products and ceramic coating.
241 PIZZA SET FOR MEGA EXPANSION
Canada-based quick service restaurant chain 241 Pizza has evolved as one of the leading pizza brands in Ontario. The brand will continue its aggressive expansion spree” with a significant commitment to expanding its presence in the India Gulf markets. In a candid conversation, Tariq El-Nogqrashy, Director of Franchising Real Estate Development at Chairman’s Brands, talks to The Franchising World about the company’s foray into the Indian market.
Recipe to Success
Four school friends embarked on a culinary adventure that would change the dining scene forever in Mayfair London. Thus, in 2011, Burger Lobster was born. Riccardo La Monica, Managing Director Asia/Middle East) at Burger Lobster Restaurant Group Limited talks to Beny Sachdeva about brand’s expansion plans.
BETTING BIG ON RETAIL BIZ
In discussion with Beny Sachdeva, Prateek Tikmani, Multi-unit Franchisee of Manyavar, Manyavar Mohey Raymond spill the beans about his success story and his journey so far with the renowned retail brands in India.
HOW FAILURE FUELLED NINA LEKHI TO BUILD A FLOURISHING BRAND, BAGGIT
Entrepreneurial journey of Nina Lekhi, Founder, Baggit was nothing short of extraordinary. As a young woman, she faced setbacks in her academic pursuits, finding herself forced to take a year off from college. But Nina was not one to be deterred by challenges. Determined to prove her worth, she embarked on a journey fueled by resilience and ambition. As she continues to shape the future of entrepreneurship, Nina’s journey serves as a beacon of hope for generations to come.