ColorPlus, the apparel subsidiary of Raymond Ltd, launched its largest exclusive outlet in Tamil Nadu
ColorPlus, the apparel subsidiary of Raymond Ltd, launched its largest exclusive outlet in Tamil Nadu, at Nungambakkam, Chennai. The store stretches across 2,500 sq. ft. and has two levels. It houses the ColorPlus collection in its entirety, constituting menswear, womenswear and the recently introduced kidswear line, ColorPlus Junior. This latest addition to its burgeoning family is part of ColorPlus’s aggressive attempts to leverage its retail presence in India when real estate prices are dipping. The new store also serves as a means to narrowing its distribution gap in its hometown, Chennai. On this occasion, Ashesh Amin, Head, ColorPlus, revealed, "We had actually planned to go slow on expansion as real estate prices were ruling very high. Now, cashing in on the falling trend, we have decided to expand our retail network with stores way above what we had planned for the next couple of years. We have decided to expand in a big way.” He also made public that ColorPlus would establish four addidtional EBOs and four shop-in-shops this financial year and intends to inject Rs 2 crore into this endeavour. ColorPlus currently has it presence in West Asia, Bangladesh and Malaysia and is fairly successful in these regions. In India, the brand is making every effort to take on the international brands ColorPlus currently contributes Rs 190 crore to Raymond Ltd. and proposes to double that sum over the next two years. ColorPlus operates via 56 exclusive brand outlets (EBOs) and is present in 50 Raymond’s stores, 250 multi-brand outlets and 32 shop-in-shops currently.