#HarSheharMeinRaymond Revolutionising Retail Business

With an increasing number of men looking for customization in what they wear, Raymond is helping them better their fashion quotient with a full wardrobe solution and a huge network of franchise owned stores. Raymond has rolled out 303 new stores in 2 years and marquee presence in over 585 towns. Mohit Dhanjal of Raymond reveals the success story of ‘keeping customer at heart of everything they do’ and how these new stores are delivering 1.5x of their targets

- Vanita D'souza

When men go out shopping, the general presumption is that they are least interested in the activity. But honestly, the case is otherwise. Just like women, men are very careful about what they are wear, style and about their overall personality. So, when it comes to a special occasion, they will never compromise and will definitely search for a customized outfit. This is why Raymond has a special place in their hearts. In this era of e-commerce, where everything is available at the click of the finger, Raymond is exponentially growing its retail presence.

For instance, the brand took 61 years to set up 689 stores while it took two years to set up another 300 stores. And this has happened thanks to the new agile and asset-light retail format called Mini TRS (The Raymond Shop). Unlike the large format store, the Mini TRS is a compact model – targeted towards emerging towns of India, especially Tier IV, V and VI. Given this scorching pace of growth, we decided to catch up with the man behind the concept – Mohit Dhanjal, Director, Retail, Raymond – to understand why the odds have favoured the new model.

THE MAN OF THE MOMENT

Each one of us has a few mantras that we swear by and Dhanjal is no different. He has three corporate mantras: First, Ambition should be greater than the Resources available (A>R). Second, holistic growth measured through 5 dimensions; viz. Competitive growth (faster than the competition); Profitable growth (+ve EBITA); Sustainable growth (continuous year on year); Inclusive growth (company and franchise partners); and Experiential growth (enhancing customer experience). Third, Dhanjal advocates that ‘Customers should be at the heart of everything.’