New Delhi: Singhania Group flagship company Raymond is expanding its newly launched brand ‘Be Home´ with investing Rs30 crore to take the total number of exclusive stores to 11 from present three by the end of current fiscal.
These multi speciality premium stores would sell six specialised verticals catering to the whole gamut of home living segment.
“We have just opened a Be Home store in Delhi, which is the third one after stores in Mumbai and Pune. We are planning eight more stores in the metros and Tier I cities by the end of this fiscal,” Raymond President (Home Living) Robert Lobo told PTI.
The company is introducing six verticals in its stores including bed linens, bath products, dining and kitchen accessories, easy wear apparels, spa products and home decor items.
“The premium segment home living market is an evolving one and we want to carve a niche in the segment by offering our range of exclusive products,” Lobo said.
He said that while the first few Be Home stores would be exclusively company-owned outlets, Raymond would also explore the franchise option in later stages.
“We are aiming for a turnover of Rs75 crore within next three year with our own retail business,” he said.
Raymond is also planning to introduce two of the Be Home verticals-- bed linens and bath products-- through other multibrand outlets as well.
“Around 90% of the collections in our stores would be from the Be Home brand and the rest from other premium segment foreign brands. We are sourcing our products from both India and a variety of global markets,” he added.