Fashion and textile major Raymond Ltd is in the process of restructuring its consumer products strategy to enter new categories within the hair and skin care. The company is also going to form an advisory board which will include Raymond’s CEO, Sanjay Behl and ex-Microsoft’s CEO Ravi Venkatesan, according to industry sources.
Endeavouring to push up the sales of its deodorants, the company has roped in actor-director Farhan Akhtar as brand ambassador.
A part of the Raymond group, JK Helene Curtis’ (JKHC) Business Director, Ashok Namboodiri, who joined the company last month, was quoted as saying, “Farhan Akhtar will appeal to younger consumers who are now getting fatigued with similar type of communication about the Park Avenue brand of deodorants. This is a great opportunity to leverage the DNA of the brand, which has got a strong legacy in the Rs 3,500-crore segment in the male grooming category that has close to 1,000 brands.”
The consumer products division of Raymond contributes about 10 per cent to the group’s annual consolidated revenues of Rs 5,400 crore.
Retail stores count as at June 30, 2016 stood at 1,051 across all formats, including 47 stores in the Middle East and the SAARC region covering over 1.9 million square feet of retail space
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