The Raymond group of India has entered into a JV with the Grotto S.p.A Group of Italy, to launch their GAS brand of Jeans in India.
GAS is already a well established brand of Jeans with prescence in over 50 countries .
It makes sense for the GAS to enter into JV with Raymonds since Raymonds is well established Denim Fabric and Jeans manufacturer and has a very good retail presence in the country. Only other Denim Group having good retail experience and presence is Arvind Mills – which is already tied up with a number of brands of VF Corp , Tommy Hilfiger etc.
For Raymonds also it makes sense to go into JV with niche European brands as it adds further weight to its own brand. It looks that Raymond is not going to stop with this one JV and we can look forward to having more news from them in this regard.