It might be Mukesh and Nita Ambani’s dream to stock and sell traditional and local Indian apparels and costumes to help preserve the rich cultural heritage of India. However, ColorPlus Retail, a division of Raymond India will launch ColorPlus Women for the intelligent and corporate savvy Indian woman who is being westernized every day. This is a Rs 800 crore market still fragmented according to retailers.
ColorPlus Women’s wear are expected to be in the range of Rs 900 to Rs 1,900. They will be available in flagship ColorPlus stores, multi-brand outlets and large format stores across the country. Raymond plans to open 5 exclusive ColorPlus stores and 12 lifestyle stores by the end of this year. The first store will come up in Bangalore followed by Delhi / NCR, Mumbai, Kolkatta, Chennai and Hyderabad.
Raymond hopes to achieve a turnover of Rs 150 crore in the next 2 years from this market which is growing at 20% YoY.