Raymond on Thursday expanded the product portfolio of its fast moving consumer goods (FMCG) business by introducing perfumes under the Park Avenue brand in the domestic and export markets.
Called ‘Eau De Parfum,’ the fragrances are blended by global perfumers and are available in 50 ml and 100 ml packs priced at ₹399 and ₹699 respectively. The FMCG range includes men’s grooming products under the Park Avenue brand name. For a distinct identity of the products, Raymond unveiled ‘One Park Avenue,’ a consumer initiative, under which the products would have a unified visual identity. FMCG products under the Park Avenue brand will be sold in packaging in three colours namely blue, white and black.
The company has also announced plans to revive its presence in the Middle East market which was dormant for several years as the company was facing headwinds in the domestic market. It will soon start exports to Bangladesh and Nepal and will foray into the South East Asian markets in the next six months, top company officials said.
“After the acquisition of Ansell’s stake earlier this year, One Park Avenue is yet another significant step that will strengthen our FMCG play both nationally and internationally which is an important driver for value creation,” said Gautam Hari Singhania, Chairman & MD, Raymond Ltd.
“Changing customer preference , improved lifestyles and growing consciousness among male consumers, presents us with a huge opportunity in the FMCG space,” he said.
Giriraj Bagri, CEO, FMCG Business, Raymond Ltd said that going forward the company would clock exponential growth in the coming years. “The aspiration is to cross ₹1000 crore in revenue, though we are just starting,” he said adding “with One Park Avenue we are creating a common identity as we are going global.”
