"The Raymond name symbolizes quality, leadership and excellence and as a company that has always stood for setting standards in ethical business performance, innovations and services. With our history of more than 75 years, we rely on our long-standing reputation and loyal customer base. While we have mastered the art of making quality fabrics, our objective is now on attaining a significant global position in the textile and ready-made segment."
- Gautam Singhania, Chairman and Managing Director, Raymond Ltd., in August 2002.
Raymond, one of the leading players in the woolen textile business in India, was incorporated in 1925 under the leadership of Vijaypat Singhania. For the next few decades, the company completely focused on its textile business.
In 1957, the company launched its woolen worsted suiting range that was to later evolve into the flagship product, Raymond. Through the years Raymond established itself as a leading player in the woolen textile market.
However, in 1980, the company decided to diversify and entered cement business. In 1995, Raymond entered the steel business in technical collaboration with Allegheny Ludhum Corporation, US. In 1997, it entered the aviation business to offer chartered services under the name 'Million Air.'.
In January 2002, the leading Indian textile and apparel company, Raymond India Ltd. (Raymond) announced that it would change the advertising agency for its textile division. Raymond shifted the Rs 350 million1 advertising account from Enterprise Nexus (Enterprise) to RK Swamy/BBDO (BBDO).
The company's decision surprised many industry observers. Analysts believed that the focused advertising campaign by Enterprise was responsible for positioning Raymond as the leader in the textile market. Responding to Raymond's account shift, Rajiv Agarwal, MD, Enterprise had earlier said, "I think it is a pity if Raymond were to move, and I am not saying it because I was a part of the team here.
I personally think the team and the agency have done a wonderful job of building the brand. And I do not believe that the quality of the work or the business attention has changed in anyway." However, Samit Sinha (Sinha), one of the partners of the leading brand-consulting firm, Alchemist Brand Consulting did not agree.
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