A PROJECT REPORT

ON
“IMPACT OF BRAND AUTHENTICITY, SHOPPING
EXPERIENCE MEMORY AND BRAND RELATIONSHIP
ON BRAND LOYALTY: A CASE STUDY OF RAYMOND”

Submitted in partial fulfillment of the requirements for the three years.

BACHELOR OF BUSINESS
ADMINISTRATION (BBA)
(AFFILIATED TO THE MAHATMA GANDHI KASHI VIDYAPITH VARANASI, UTTARPRADESH)

BATCH – 2021-2024
UNDER SUPERVISION OF: SUBMITTED BY:
DR. ANJALI KUSHWAHA MANAS RAJ
ASSISSTANT PROFESSOR BBA (5TH SEM)
SMS VARANASI ROLL NO.- BBA2125107

1
 ACKNOWLEDGEMENT

Firstly, I would like to thank almighty for keeping me healthy and

active because of which I was able to complete my project
successfully.
I express my greatest gratitude to our Prof. P.N. JHA (Director)
of SMS VARANASI who gave me such a great opportunity to
work on a project where I can show my creativity, my mentor DR.
ANJALI KUSHWAHA, Assistant Professor, SMS VARANASI
for providing me knowledge, guidance, and full cooperation
extended during the pursual of my project.
And at the last but not the least I would like to thank Mr. ATISH
KHADSE (Associate Professor) Coordinator of Bachelor of
Business Administration (BBA), SMS VARANASI who helped
me and enlighten my path. This report is the outcome of the
support which I have received from people directly or indirectly.
Finally, I would like to show my gratitude to all my family
members, friends, faculty member of SMS VARANASI whose
guidance have helped to complete this report.
Thanks!

2
 DECLARATION

I, MANAS RAJ, student of SCHOOL OF MANAGEMENT

SCIENCES, Varanasi. Hereby declare that I have completed the
project business model under the guidance and support of DR.
ANJALI KUSHWAHA.
The information that I have written in this project is original to the
best of my knowledge.
The content that I am sharing is not copied and is written by
myself.
MANAS RAJ
BBA (5TH SEM)
ROLL NO. BBA2125107

3
 TABLE OF CONTENT
CHAPTER TOPIC PAGES
NO.

1. INTRODUCTION 5-31

2. REVIEW OF LITERATURE 32-41

3. RESEARCH METHADOLOGY 42-49

4. DATA ANALYSIS 50-58

5. FINDINGS AND DISSCUSSION 59-61

6. CONCLUSIONS AND 62-64

RECOMMENDATION

7. BIBLIOGRAPHY 65-66

8. REFERENCES 67-68

9. ANNEXURE 69-85

4
INTRODUCTION

5
INTRODUCTION

Raymond Ltd is the largest integrated manufacturer of fabric in the world based

in Mumbai, Maharashtra. It has over 60% market share in suiting in India. It is also

India's biggest woollen fabric maker. Textile division of the company has a distribution

network of more than 4,000 multi-brand outlets and over 637 exclusive retail shops in

the domestic market itself. Raymond brand products are available in India in over 400

towns through 30,000 retailers and an exclusive chain is present in over 150 cities

across India. Its products are exported to over 55 countries including

US, Canada, Europe, Japan and the Middle East. It has more than 20,000 design and

colours of suiting fabric which makes it one of largest collection of designs and colours

by single company. It was listed as India's most trusted apparel brand by The Brand

Trust Report in 2015.

In 2015, Raymond became the first textile company in the world to produce Super 250s and

innovative fabrics. Raymond with its 97-year-old expertise is a textile powerhouse with modern

infrastructure and strong fibre-to-fabric manufacturing capabilities. Along with being

reputed, it is the fastest-growing fashion fabric brand.

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The Journey of Raymond

The brand name Raymond was derived from Albert Raymond & Abraham Jacob Raymond. It

was incorporated as the Raymond Woollen mill during the year 1925 near Thane Creek.

Lala Kailash pat Singhania took over The Raymond Woollen Mill in the year 1944. In 1958,

then with lots of hard work and efforts Mr. Gopalkrishna Singhania and thereafter Mr. Vijay

pat Singhania made this small fabric company into a world-renowned brand. The exclusive

Raymond Retail showroom, King's Corner, was opened at Ballard Estate in Mumbai. In 1968,

Raymond had set up a readymade garments plant at Thane. A new manufacturing facility was

set up at Jalgaon (Maharashtra) during the year 1979 to meet the increasing demand for worsted

woollen fabrics. In the year 2000, Vijay pat Singhania handed over his company to his only

son Gautam Singhania and in the year 2015, he gave 37.57% of the total shares to him. In

November 2015, Raymond announced that Sanjay Behl would be taking over as CEO, and M

Shivkumar as CFO.

7
Founders of Raymond Group

Among the prominent players in the Indian textile and fashion landscape is the

Raymond Group. Headquartered in Mumbai, India, Raymond was founded in 1925

by Albert Raymond Wheeler. With a staggering capacity of 31 million meters for

wool and wool-blend fabrics, the group specialises in crafting suiting materials of

exceptional quality.

ALBERT RAYMOND WHEELER

Raymond Albert Wheeler (31 July 1885 – 9 February

1974) was a lieutenant general in the United States Army

Corps of Engineers and an engineer of international

recognition. He fought in both World Wars, at the

Marne in World War I, where he earned a Silver Star, and

in the South-East Asian Theatre of World War II, where he

personally accepted the Japanese surrender in Singapore.

During and after the war he held key roles in major engineering projects of the 20th

century, to include construction of the Ledo Road, St. Lawrence Seaway, and Missouri

Basin Program, the clearing of the Suez Canal during the Suez Crisis, and the

construction of tens of thousands of miles of rail and highway through Iraq and Iran

during the development of Allied supply lines from Europe to Russia during World War

II.

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Chairman Of Raymond Group

GAUTAM VIJAYPAT SINGHANIA

Chairman & Managing Director of

Raymond Limited, a diversified group that

is recognised for creating the finest quality

offerings in Textiles, Apparel, Retail,

Engineering, FMCG and Realty.

Under his stewardship for 20 years now,

and guided by a passion to create

businesses and products that make an

impact and drive higher growth & profitability for all stakeholders, the iconic Raymond Group

has reached new levels of success as an international business.

He has steered the group’s aggressive foray into the ready-to-wear apparel segment, men's

toiletries, prophylactics, and more recently into the real estate space with the launch of

Raymond. Realty.

The Raymond Group, under his leadership, is committed towards excellence in education.

Through its four schools in India, the group makes quality education accessible to over 10,000

children. He has been recognised with the Maha Udyog Shri award by the Government of

Maharashtra for Industrial Excellence.

A pioneering enthusiast in Indian motorsport, he was recently elected as India’s representative

of the Federation Internationale de l' Automobile (FIA) World Motor Sports Council (WMSC)

and represents the FMSCI (Federation of Motor Sports Clubs of India) as its Titular. He is also

the founder of the Super Car Club of India.

9
Gautam Vijaya pat Singhania (born 9 September 1965) is an Indian industrialist. He is the

chairman and managing director of the Raymond Group, the world's largest producer of suiting

fabric

He is an alumnus of St. Mary's School, Mumbai and Cathedral and John Connon School. He is

also an alumnus of H.R. College in Churchgate, Mumbai

Gautam Singhania joined the Singhania family's JK Group of companies in 1986. He later

joined the family's Raymond Group, becoming a director in 1990, the managing director in

July 1999, and the chairman in September 2000. He restructured the group and sold Raymond's

non-core businesses (synthetics, steel and cement).[2] Under him, the group moved its focus

to fabrics, apparel brands, prophylactics (Kama Sutra condoms), and men's toiletries. He has

also focused on international partnerships for Raymond, including joint ventures with UCO

Textiles of Belgium (denim) and Gruppo Zambetti of Italy (shirting).[1] In 2005, Singhania

opened a nightclub named Poison in Bandra, with DJ Aqeel.[1] As of 2012 Singhania's net

worth is estimated to be around $1.4 Billion.[3] Singhania is currently constructing

a skyscraper ten stories taller than the Antlia constructed by Mukesh Ambani. The 30-story

mansion, called JK House, will be a combination of a private residence and textile showroom.

Gautam Singhania is married to Nawaz Modi Singhania, a Parsi. The couple has a daughter

named Niharika (born 10th December 2005) [1]

He has suffered from vitiligo (loss of skin pigmentation) since a young age. Its progression

accelerated when he was in his early 30s, as a side effect of medication.[4]

Gautam Singhania's father gave him 37% of the company as per family understanding. After

taking over the company a few years later he turned it around and turned it into a huge success.

10
THE IDEA BEHIND THE BUSINESS AND THE BRAND

Raymond Group is an Indian branded fabric and

fashion retailer,[2] incorporated in 1925. It

produces suiting fabric, with a capacity of

producing 31 million meters of wool and wool-

blended fabrics.[3]

The group owns apparel brands like Raymond, Raymond Premium Apparel, Raymond

Made to Measure, Ethnics,[4] Park Avenue Woman[5] Colo Plus,[6] Kamasutra & Parx.

All the brands are retailed through 'The Raymond Shop' (TRS), with a network of over

700 retail shops spread across India and overseas, in over 200 cities.

In addition, the group also has business interests in readymade garments, designer

wear, cosmetics & toiletries, engineering files and tools, prophylactics and air charter

operations.

In 2019, Raymonds announced its venture into real estate business under Raymond

Realty. The new venture is poised to start with an investment of ₹250 crore (approx.

$36 million) in developing mid-income and premium housing units on 20 acres of land

in the growing suburb of Thane. Raymond group holds over 125 acres of land in this

region.

The Raymond Group is a diversified conglomerate with business interests in the textile and

apparel sectors, FMCG, realty, engineering, and prophylactics in national and international

markets . The group was founded in 1925 and has since been synonymous with trust, quality,

and excellence .

11
The group’s primary business is in the textile and apparel sectors. It manufactures

suiting fabrics, woollen fabrics, and readymade garments under brands such as Park Avenue,

Raymond Premium Apparel, Parx, and Colour Plus 3. The group retails all its brands through

a vast network of over 700 stores in more than 200 cities spread across India and overseas .

Raymond’s marketing strategy is ingrained in its DNA and can make or break its

success. The company has adapted to the digital world by offering online shopping

options for its customers. It has also collaborated with DDB Mudra Group for its latest

campaign .

In conclusion, the Raymond Group’s idea behind its business is to provide quality

products to its consumers. The group has diversified into various sectors over the

years but has remained true to its core values of trust and excellence.

FINANCIAL SUMMARY OF RAYMOND GROUP

The Raymond Group is a diversified conglomerate with business interests in the textile and apparel

sectors, FMCG, realty, engineering, and prophylactics in national and international markets 1 . The

group has shown a good profit growth of 63.27% for the past 3 years and a revenue growth

of 21.95% for the same period.

LAST FINANCIAL STATEMENT OF RAYMOND GROUP

Mar'23 Mar'22 Mar'21 Mar'20 Mar'19

INCOME

Net Sales Turnover 5779.56 4260.66 1752.41 3186.39 3276.39

Other Income 133.61 253.10 139.07 128.25 164.13

12
Total Income 5913.17 4513.76 1891.48 3314.64 3440.52

EXPENSES

Stock Adjustments -411.30 -212.89 272.60 -225.33 -114.90

Raw Material Consumed 739.20 604.21 244.54 664.24 713.35

Power and Fuel .00 .00 .00 .00 .00

Employee Expenses 569.83 505.66 321.28 477.43 463.86

Administration and Selling

Expenses .00 .00 .00 .00 .00

Research and Development

Expenses .00 .00 .00 .00 .00

Expenses Capitalised .00 .00 .00 .00 .00

Other Expenses 3965.84 2870.22 914.34 2015.23 1976.26

Provisions Made .00 .00 .00 .00 .00

TOTAL EXPENSES 4863.57 3767.20 1752.76 2931.57 3038.57

Operating Profit 915.99 493.46 -.35 254.82 237.82

EBITDA 1049.60 746.56 138.72 383.07 401.95

Depreciation 159.12 159.72 145.04 155.32 108.59

13
EBIT 890.48 586.84 -6.32 227.75 293.36

Interest 228.41 194.82 170.17 194.49 174.75

EBT 662.07 392.02 -176.49 33.26 118.61

Taxes 150.44 -48.88 -58.00 -24.42 20.42

Profit and Loss for the Year 511.63 440.90 -118.49 57.68 98.19

Extraordinary Items -101.17 -836.82 .00 36.63 -24.37

Prior Year Adjustment .00 .00 .00 .00 .00

Other Adjustment .00 .00 .00 .00 .00

Reported PAT 410.46 -395.92 -118.49 94.31 73.82

KEY ITEMS

Reserves Written Back .00 .00 .00 .00 .00

Equity Capital 66.57 66.57 66.57 64.72 61.38

Reserves and Surplus 2185.92 1745.75 1602.43 1716.20 1307.43

Equity Dividend Rate 30.00 30.00 .00 .00 30.00

Agg. Non-Promoter Share

(Lakhs) .00 .00 .00 .00 .00

14
Agg. Non-Promoter Holding

(%) .00 .00 .00 .00 .00

Government Share .00 .00 .00 .00 .00

Capital Adequacy Ratio .00 .00 .00 .00 .00

EPS(Rs.) Nan Nan Nan Nan Nan

Rs (in Crores)

The Yearly Results page of Raymond Ltd. presents the key annual result items, its

comparison with the sector peers and its Annual Results for the last five years.

SHARE OF RAYMOND GROUP SALES CONTRIBUTION IN FINANCIAL YEAR

2023, BY SEGMENT

According to Statista, Raymond Group’s sales share in FY 2023, by segment, was as

follows:

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Segment Share of Sales

Branded Textiles 39%

Apparel 28%

Shirting 16%

Others 17%

Raymond’s branded textile sales was valued the highest at about 39 percent in fiscal year

2023 .The company also forayed into the real estate sector in 2019 with its latest division

Raymond Realty.

16
INNOVATION AND ADAPTION DONE BY RAYMOND

17
Mr. A. Bambardekar, Raymond’s works director of Vapi (Gujrat) plant. Under his

leadership the plant has received prominent accolades like Greentech safety Award

and Quality Mark Award. Mr. Bambardekar is a Textile Engineer from DKTE Textile

Institute, Chakrapani, Maharashtra. He has also done his DCA (NITIE) & Post

Graduate Diploma in Industrial Engineering (VJTI) from Mumbai University. He is soon

to lead the suiting business of 3 p lants i.e.Vapi, Chhindwara and Jalgaon w.e.f. 1st of

January 2023.

TEXTILE VALUE CHAIN Media visited Raymond, Vapi Plant and taken exclusive

interview with Plant head Mr. A.A. Bambardekar , explore his views here :

Share your Journey in Raymond

Mr. A.A.Bambardekar is Currently working as the Plant Head at Raymond Vapi, one

of the most modern plants of Raymond. He started his journey at Raymond in 1987,

when he joined as a management trainee at Raymond, Thane. In 1989, he was

transferred to Chhindwara plant, where he had an opportunity to work on a greenfield

project. He was there till 2009. He was then transferred to Vapi plant and he is heading

the Vapi plant since 2010. Now, he has been elevated as Suiting Manufacturing Head

18
to lead the Suiting Business of 3 plants i. e. Vapi, Chhindwara and Jalgaon. His journey

at Raymond has been wonderful and an inspiring one!

The journey of Raymond Vapi plant has highly been a rewarding one. Commissioned

in 2006, we are one of the finest worsted fabric producers in the world. Equipped with

all the modern machineries and technology, our plant has always given consistent

results on a year-on-year basis.

The Corporates or the Start-Ups # Choice!

Both have their own pros and cons. Incorporates, SOP has laid out and planned

efficiently. But these days the youngsters are more inclined towards working in start-

ups. I believe that these start-ups give you more knowledge than the corporates

because there, you are the boss of yourself and are responsible for your own success

/profits and Failures / losses. There are more responsibilities in the Startups. In

Corporate, there is lot of hierarchy. Advice to all startups is that there is possibility of

start-ups can fail, but don’t be afraid, these failures will only lead to success eventually.

Tough people last in the difficult times and grow out of it.

Technique and theory of Production used in Raymond

We use “Theory of Constrains (TOC)” which emphasis more importance to through

put time than the productivity and efficiency of individual department. Earlier 12 years

before, we were focusing on efficiency of each department, that we were focusing so

much on efficiency but warehouse was not getting those fabrics which are required by

customers. In 2009, we changed the technique and adopted the concept of Theory of

Constrains (TOC).

Values follow at Raymond.

The critical values that we follow at Raymond are excellence, Quality and Trust. These

qualities are imbibed in everyone at Raymond, and this is why we are able to sustained

19
for 100 years. We are celebrating our 100th Year in 2025. All the people working at

Raymond are very well aware of the importance of the value.

Sustainability, quality control is key for manufacturing.

Raymond is committed to the sustainability, its working on Product, Energy and

Culture to reduce the carbon footprint (At Vapi plant 40% power is renewable power

and wind & hybrid power. Ours is the first plant in Gujarat to have hybrid power).

Vapi Plant is certified with:

1. GRS

2. RWS

3. OEKO-TEX

On product front, we are using the Recycled Polyester, Organica Wool and 100%

certified OEKO-TEX Dyes & Chemicals.

Raymond has been able to build its brand on the trust of its customers on the quality

it provides to the customers. At Raymond, quality cannot be compromised or

negotiated. But as all good things come with a lot of effort, in Raymond too, a lot of

effort, energy and time is put into maintaining quality.

To maintain the quality of the product, we know the exact product criteria and

specification. Several quality checks are carried out during the production and quick

corrective actions are taken in case of any deviation. The products are tested and

through a rigorous product inspection, every meter of fabric is checked.

There is a focus on continuous improvement as per the requirement of the market,

new products are developed without compromising the quality.

Through all the earlier mentioned factors, Raymond has been successful in

maintaining its product quality and a sustainable brand. Sustainability and quality go

hand in hand. Quality is there with us, so we have sustained for almost100 years.

20
Ever increasing cost and make factory unviable. fuel, wages, power cost are always

increasing, and the same amount we are not recover from customer

We have to find innovative ways of saving from utility cost, this is major concern is

facing of all textile industry.

Operations and Technology have been changing and growing at an ever-increasing

pace making it pertinent for industries to catch up with the pace of change and growth

so as to be able to retain their brand image. Industries are leaving no stones unturned

in their endeavour to provide the best product and service to the customer as they are

fully aware that this is the key parameter for brands to sustain.

Raymond has the best operating systems due to which it has been able to be at top

for years. Raymond is now almost a century strong, over these years it has been able

to learn, grown and sustain its brand and this was mainly due to its operational

excellence. Due to its operational excellence and adaptability to change, Raymond

has been able to produce the best products for the market. There have been several

competitors in the market but Raymond has stood strong due to its operational

excellence.

We manufacture fabric from Rs. 300 / meter to Rs. 3 Lac / meter. this type of capability

no other company in the world having. Any company in the world can’t be able to do

this.

Technology helps to make radical change and supports the business to grow, at

Raymond too, new machineries have been inducted and digital technology like

Artificial Intelligence (AI) have been adopted.

Operation and Technology importance being a sustainable brand

Operation and technology have played an important role in developing Raymond as a

sustainable brand in the industry.

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I feel proud to say that we have 40% renewable energy portfolio as of now. We have

an inhouse 640 kW rooftop solar power plant and we are purchasing wind power of

3.04 MW and hybrid power of 3.15 MW through bilateral.

We have reduced our carbon emission by over 20% over the last 3 years.

Every year, we are implementing projects that are ensuring reduction in carbon

emissions and reduction in energy consumption. We have used technology to

implement digital energy monitoring system, which is helping us move towards

sustainability and energy reduction through proper maintenance and analysis of

energy data

We are making changes in our existing production and operations like altering our

dyeing recipes, optimizing heat temperature in the stenter, which leads to reduction in

utility consumption. We have also introduced sustainability in our line of products and

fabrics.

Sustainable Fibers used in products

We have received the following international certifications which has enabled us to

create sustainable fabrics.

The plant has received Organica Precious Fiber Certificate in Jan-2019. The certificate

signifies that the raw material i.e. wool which is procured for processing is completely

organic and environment friendly. No harm is done to the animal during the wool

extraction process.

In Sept-2019, Raymond Ltd, Vapi plant has been certified with Recycled Polyester

Certificate after being assessed and found in compliance with GRS STANDARD. The

certificate signifies that the unit is manufacturing fabric from yarn processed from

existing plastics which are non-biodegradable.

22
The plant has received Oekotex Certificate in Sept-2019. The certificate signifies that

the chemicals which are used for producing fabric are eco-friendly and meet the

human- ecological requirements of the STANDARD 100 by Oekotex.

Also, in this November2022 month we have received RWS (Responsible Wool

Standard) Certificate.

The Responsible Wool Standard (RWS) provides an opportunity for farmers to

demonstrate their best practices to the public, and a means for brands and consumers

to have the certainty that the wool products they buy and sell are in line with their

values

We have produced sustainable fabrics of around 2 lakh metres in the last financial

year which is worth Rs 10-12 Crores. We have also introduced sustainable spandex

fabric which runs on lower heat set temperature leading to reduction in coal

consumption.

We use Wool, recycled polyester, cool max, feel fresh polyester, cotton, linen fibres in

our fabrics.

Plant capacity is 70000 meter worsted fabrics per day, 40000 is polyester – viscose

and 30000 will be wool – polyester. We also produce 5 lac stretch fabrics using

spandex yarns.

Digitalisation in industry

Digitalization in business has proven to be almost essential for business success

today. Digitalization in business helps to improve the efficiency of operations across

all functions, reduces human errors, it is safer to store data, reduces operational cost

and enables fast data analysis.

23
Due to the implementation of digital technologies, workflows are becoming streamlined

and there are fewer human errors, all of the operations are executed more efficiently

which enable businesses to reduce operational costs.

The implementation of digital technologies not only increases the company’s digital

presence but also sparks the creation of new communication channels. It has

increased the chance of boosting sales revenue and customer loyalty, it also

encourages innovation.

Raymond too has adopted digitization in big way in all functions like operation, HR,

Marketing, system, finance, etc. due to which there we are able to get better data

analysis, lesser human error, operational efficiency and lower operational cost.

Research and Development / Innovation Strategy of Raymond

For us Research and Development / Innovation is iterative process of learning what

does and what doesn’t work. To carry out this iterative process of experimentation we

have inhouse team at specific plants and central level. This team carry out

experimentation by connecting with internal and external stake holders (Suppliers,

education institution to name few). They follow principle of MVP (Minimal viable

product) making. The team first create simple first version of product and get the

feedback back from different interested stake holders. They study the feedback and

response which is received from different stake holders and relevant things goes as

input in process of iteration. In this process of experimentation, they follow certain

principles: –

i) Learning early

ii) Be fast

iii) Fall in love with problem not solution

iv) Get credible feedback

24
v) Measure what matter to end user

vi) Test your early assumptions

vii) Scale the final model to commercial level or fail smart.

Expectation from India ITME 2022

We use latest technologies, we are looking forward to new technology in ITME 2022.

Raymond always look forward to such kind of exhibitions where we get to learn lot of

new technologies and we are among the first one to buy machine.

Costs are soaring high and with ever increasing cost, make manufacturing viable, we

need to do cost savings. With that point of view, expectations are how innovation,

modernization, digitization, and automation will help reduce cost in the textile industry.

In many conferences, many speakers speak about IOT, AI etc. but their

implementation in the textile industry are very less.

We are using Cobots in the factory. We are looking forward for such technology which

can be utilities in reducing cost.

MARKETING STRATEGY FOLLOWED BY THE BRAND

Raymond is a fashion and fabric retailer based out of India, set up in 1925. It also

manufactures suiting fabrics and Woolen fabrics. Park Avenue, Raymond Premium

Apparel, Parx, and Colour Plus are brands under Raymond.

It retails all its brands through a vast network of 700 stores in over 200 cities spread

all across India and overseas. Raymond is amongst the most respected and one of

the largest apparel manufacturers.

25
A company’s marketing strategy is ingrained in its DNA and can make or break its

success. Marketing has adapted as individuals from all around the world search for

the digital world.

Incepted in 1925, Raymond has been synonymous with Trust, Quality, and Excellence.

It is a diversified group with business interests in the Textile and apparel sectors. It

also has its presence across diverse segments such as FMCG, Realty, Engineering,

and Prophylactics in national and international markets.

Having enjoyed the backing of over a billion consumers, Raymond has been reckoned

for delivering world-class quality products to its consumers for the past nine decades.

Raymond has strong Fiber-to-fabric manufacturing capabilities and is a textile

powerhouse with state-of-the-art modern infrastructure. Raymond has on offer a wide

range of quality shirting and suiting fabrics across a plethora of options such as

Worsted Fabrics, Cotton, Wool blends, Linen, and Denim.

 Raymond demerges its lifestyle biz to Raymond Consumer Care

It will now be divided into two listed entities, Raymond Ltd (RL) and Raymond

Consumer Care Ltd (RCCL). Raymond will be a real estate company with

investments in engineering and denim business and RCCL will be a pure play-

listed Lifestyle business.

 Raymond Ltd. collaborates with DDB Mudra Group for its latest campaign

Through the campaign, the company aims to celebrate the energy that comes

with wearing office wear that allows for free and fluid movement, it claimed.

Target Audience of Raymond

As its target market, the higher and upper-middle class segment of urban life,

Raymond caters to them. It operates in a high-end industry and provides stylish

26
garments to those looking to make a statement with their personal sense of style and

fashion.

Nearly fifty countries in Japan, the Middle East, Europe, and North America have

textile industries, and the corporation is a major supplier of finished clothing and

materials to those industries.

Check out the buyer’s persona of Raymond to get a quick understanding of a potential

customer of Raymond.

Marketing Mix of Raymond

Marketing Mix is referred to as the 4Ps of marketing – product, price, place, and

promotion, that can be controlled by a company to influence consumers to purchase

its products. Raymond has a wide variety of products. Its marketing mix is as follows:

PRODUCT

Raymond operates a multi-product market. Raymond has a diverse product portfolio

and includes:

 Readymade Garments

 Air-Charter Services

 Prophylactics including Surgical Gloves

 Engineering including Files, Auto-Components, Agri Tools, Cutting Wools and

Hand Tools

 Toiletries and Cosmetics

 Denim Wear

 Designer Wear

 Fabrics include Shirting, Denim, and Worsted

 Furnishing

 Corporate Wear

27
  Total Textile Solutions

 Personal Care Includes Kamasutra and Park Avenue

 Retail includes Brand Store and The Raymond Shop

 Woolen Outerwear

It continues to expand its product line by adding a variety of new products under its

standard. This helps the company identify customers of different ages and

workgroups.

The Raymond store is a new creation of Raymond where the company makes all its

products available under one roof. In other words, it is a series of stores where a

company stores all the products under its control. It has been a successful journey for

Raymond in terms of engaging its customers with its products and has been

instrumental in increasing sales.

PRICE

Raymond treats high and middle-class urban communities as targeted customers. In

the premium business and also offers fashionable clothes for people who wish to make

their distinctive brand in style and fashion sense. Raymond is a sign of success and

therefore has adopted a premium pricing policy for its products. Since its customers

can be high-quality people who look for quality instead of quantity, they can easily

afford its prices in the consumer market.

PLACE

Raymond has spread its presence in domestic and international markets with similar

success. It has its headquarters in Mumbai, Maharashtra. Raymond owns many

production facilities located in Jalgaon, Chinaware in India and Spain, and Portugal in

overseas markets. The company is a major supplier of finished garments and textiles

28
to the textile industry in nearly 50 countries in Japan, the Middle East, Europe, and

North America.

PROMOTION

Raymond has adopted several marketing policies to increase and maintain its

awareness in the consumer market. They have launched several advertising

campaigns with the help of all advertising methods such as print, digital, and

technology.

Raymond has used social media to advertise on Twitter, Facebook, and YouTube. It has

a website that acts as its agent for updating important news and events from time to

time where the tailor is easily available at the cheapest cost of sewing the fabric.

SWOT ANALYSIS OF RAYMOND

Raymond Group is an Indian apparel company headquartered in Mumbai. The group

owns various famous brands like Raymond, Park Avenue and ColorPlus. The

company also has a chain of organised retail outlets called “The Raymond Shop”.

Raymond has gained popularity with its famous tagline “Raymond: The Complete

Man”.

STRENGTHS IN THE SWOT ANALYSIS OF RAYMOND:

Strong Brand Name: Raymond is almost a 100-year-old brand and has sustained

through different phases and fashion trends in India and all over the world through the

trust and credibility of its customers. It has a very strong Brand image and has been

successful in satisfying its customers.

29
Popular Tagline “Raymond: The complete man”: Raymond has been able to create a

strong and well-renowned tagline “The complete man”. This tagline has been defining

Raymond over the years. This has helped Raymond create a strong image and brand

recall of Raymond and has made its advertisements very popular.

Product Line Extension: Raymond has been successful in extending its product line

into other popular brands to target various age and income groups. Raymond owns

popular brands Park Avenue, Color Plus & Park. These brands have been successful

in enhancing the customer base for Raymond and adding new revenue sources.

The Raymond Shop: The Raymond Shop is a chain of stores through which the

company retains all the brands under it. It has been a successful venture for Raymond

in terms of engaging its customers through its brands and has also contributed heavily

in increasing the sales.

WEAKNESSES IN THE SWOT ANALYSIS OF RAYMOND :

Low Global Penetration: Raymond has the major presence in India and some South

East Asian nations which is very low as compared to its major competitors which are

a weakness for the company.

Over Dependence on Indian market: Majority of Raymond’s revenue comes from India

and thus it makes the company vulnerable to any economic, political or social changes

that happen in the nation.

30
OPPORTUNITIES IN THE SWOT ANALYSIS OF RAYMOND :

Increasing Disposable Income in India: Disposable income in India has been increasing

over the years and is expected to increase further at a rapid pace. This will certainly

increase demand in the apparel industry.

Growing Middle Class: The Indian middle class have experienced a shift in their

spending pattern. The middle-class population of India can create high demand in the

near future.

Global Expansion: Raymond has a product portfolio which can attract many markets

around the world like African countries, Middle East etc. Raymond should look forward

to expanding globally to increase its customer base and revenues.

THREATS IN THE SWOT ANALYSIS OF RAYMOND :

Intense Competition: Raymond competes with various local and global players in the

market. Intense competition in the market puts pricing pressure and reduce market

share in the industry.

The abundance of counterfeit products: Presence of counterfeit products, especially in

the Indian market, is in abundance. This not only affects the sales of the brands but

also affect the brand image.

31
LITERATURE REVIEW

32
BRAND

A brand is an intangible asset made up of many elements. Together these elements

help consumers identify a product and give them reasons to buy it rather than its com-

petitors.

This is most challenging, of course, when the product is essentially identical to cheaper

competitors. Advil, for example, is a brand name for ibuprofen. Through effective ad-

vertising and packaging, its parent company attempts to convince consumers that Ad-

vil's ibuprofen is a better choice than the cheaper generic versions of ibuprofen that sit

next to it on pharmacy shelves.

Elements of a Brand

A product's logos and slogans are elements of its brand and are designed to support

a product's brand identity.

Allstate's slogan, "You're in good hands with Allstate," was introduced in the 1950s. It

suggests that its insurance customers can count on it being reliable and competent

when they need its help. Its commercials reinforce the message.

Other slogans are harder to translate but nevertheless become an intrinsic part of a

brand's identity. Since the 1930s, the slogan for Kellogg Rice Crispies has been "Snap!

Crackle! Pop!" It says that the product adds a pleasing noise to your breakfast but also

evokes images of the cheery elves that serve as the cereal's commercial spokesmen.

Standing Out From the Competition

Successful marketing keeps a company's brand front and center in people's minds, at

least at the moment of decision-making. That's why the brand is considered to be one

33
of a company's most valuable and important assets. It carries tremendous monetary

value, affecting both the bottom line and, for public companies, shareholder value.

A company can become inseparable from its brand. Coca-Cola the soft drink is syn-

onymous with Coca-Cola itself, even though the company now owns Schweppes, Dr.

Pepper, and Hi-C, among hundreds of other brands.

Newer brands face a great deal more urgency in establishing themselves with con-

sumers. Find stack estimates that a product's website has precisely 0.5 milliseconds

to convince a consumer to stay or go.

 A successful brand communicates the qualities of a product to the consumer.

 A product's design, logo, packaging, and advertising message are all coordi-

nated to convey the brand's message to the consumer.

 Its brands are among a company's most important and valuable assets.

 Companies can protect their brands by registering trademarks to protect ele-

ments of their brands.

BRAND AUTHENTICITY

The publication by Barbara Stern in 1994, titled "Authenticity and the textual persona:

Postmodern paradoxes in advertising narrative," within Stern’s International Journal of

Research in Marketing, played a pivotal role in stimulating a more in-depth exploration

of brand authenticity in marketing research. This work triggered further investigations

into what Stern identified as an increasingly pertinent area. Subsequent studies, in-

cluding one by Stern in 1996 defining brand authenticity as the perceived genuineness

of a brand, and another by Parker et al. in 1998 focusing on scotch whisky, contributed

to the growing body of literature on the subject.

34
As both academic and practical interest in brand authenticity expanded, a wealth of

literature emerged. Various proposed definitions included uniqueness in craft, being

genuine and the "real" thing, having a unique identity, consistency, essence, self-au-

thentication, and self-congruency. Nunes et al. (2021) introduced a six-dimensional

perspective, encompassing accuracy, connectedness, integrity, legitimacy, originality,

and proficiency, with the specific dimension's applicability varying based on the con-

text. Grayson and Martinic (2004) distinguished between indexical and iconic authen-

ticity, defining them as being true to self and cultural identity. Other practical definitions

emphasized staying true to one's values, being genuine and honest, upholding mar-

keting claims, maintaining transparency, consistency in communication, and adhering

to core values.

Given the diverse range of definitions in both academic and practical contexts, there

is a recognized need for a comprehensive, holistic definition that thoroughly encom-

passes the essence of brand authenticity.

We amalgamate diverse themes to construct a comprehensive definition of brand au-

thenticity. In order to fully encompass the extensive scope and crucial aspects of this

variable, a definition of brand authenticity should not only consider conventional indi-

cators like genuineness, openness, and honesty but should also be contemporary.

This involves addressing consumers' desire for individualization and customization, as

well as adapting to the rapidly changing conditions in the marketplace.

Historically, definitions of brand authenticity in literature have predominantly focused

on specific facets. Some emphasize self-authentication, uniqueness, or honesty, while

35
others underscore the perceived genuineness of a brand or its longevity. Our exami-

nation of prior literature reveals four major themes consistently cited in defining brand

authenticity:

(1) self-authentication/empowerment

(2) having a unique identity/originality

(3) genuineness/being true to the brand

(4) longevity/surviving times and trends.

Furthermore, many existing brand authenticity definitions in literature have been sin-

gle-faceted. Based on our literature review and exploratory research, we posit that

brand authenticity is a multi-faceted construct. We synthesized various singular facets

from prior definitions to formulate a new definition that encompasses key areas of the

construct, offering comprehensive coverage.

In considering the current landscape of brand authenticity research, it is crucial to

acknowledge significant changes in the marketplace, particularly the escalating influ-

ence of brand authenticity and social media. The United States witnessed approxi-

mately 223 million social media users in 2020, constituting 67% of the population. The

pandemic triggered a surge in digital and social media use across various business

sectors, with these increases anticipated to persist post-pandemic. In this evolving

marketplace, social media has become a primary source for consumers in areas such

as research, brand interaction, content sharing, opinions, and daily news and infor-

mation. As consumers increasingly gravitate towards social media platforms, brands

36
must continually innovate and leverage new technology to meet consumer needs and

remain relevant.

SHOPPING EXPERIENCE MEMORY

The scent of fresh leather, the soft hum of music playing in the background, and the

vibrant array of colors adorning store shelves—these sensory impressions flood my

mind as I reminisce about a memorable shopping experience. It was a sunny after-

noon, and I found myself wandering through a quaint boutique tucked away in a charm-

ing corner of the city.

The store's ambiance was inviting, with warm lighting casting a golden glow on care-

fully curated displays. Each section seemed to tell a unique story, inviting exploration

and discovery. The texture of fabrics beneath my fingertips and the crisp sound of

paper bags being folded were tactile reminders of the treasures awaiting me.

What made this shopping expedition unforgettable was not just the items I purchased,

but the personalized attention from the staff. A knowledgeable and friendly sales as-

sociate guided me through the store, offering insights on the latest trends and helping

me find pieces that suited my style. It felt like a collaborative journey rather than a

transaction.

As I reflect on that day, the memory is not just about acquiring material possessions

but about the joy of the experience. The laughter shared with friends, the surprise of

stumbling upon a hidden gem, and the overall sense of indulgence contribute to a

mosaic of recollections that extend far beyond the products themselves.

37
In the fast-paced world of modern commerce, where online transactions dominate, this

in-store adventure remains etched in my memory as a testament to the irreplaceable

magic of a well-crafted and immersive shopping experience.

The resonance of that shopping day lies in the spontaneity of the moment and the

emotional connections formed. From savoring a decadent treat at the nearby café to

exchanging fashion tips with fellow shoppers, the experience transcended the trans-

actional. It serves as a nostalgic reminder of the intangible value woven into the fabric

of every memorable shopping escapade.

BRAND RELATIONSHIP

Building a meaningful relationship with a brand is no longer confined to the transac-

tional exchange of goods and services; it has evolved into a dynamic connection

shaped by emotions, values, and shared experiences. In today's consumer landscape,

a brand relationship is akin to a human connection, rooted in trust, loyalty, and reso-

nance.

At the core of a strong brand relationship is authenticity. Consumers crave sincerity

and purpose from the brands they choose to engage with. A brand that aligns with its

values, communicates transparently, and consistently delivers on its promises fosters

a sense of trust. This trust forms the foundation of a lasting connection, transforming

customers into loyal advocates.

Emotional engagement plays a pivotal role in brand relationships. When a brand can

evoke positive emotions, whether through compelling storytelling, memorable adver-

tising, or exceptional customer experiences, it establishes a deeper connection with

its audience. Consumers are more likely to develop loyalty when they feel a brand

38
understands and caters to their emotional needs, be it a sense of belonging, aspira-

tion, or joy.

Consistency is another key element in nurturing a brand relationship. A brand that

maintains a consistent identity across all touchpoints, from marketing messages to

product quality, cultivates reliability. This reliability builds confidence in consumers, re-

assuring them that their expectations will be met consistently, reinforcing the bond they

share with the brand.

Moreover, interactivity and engagement are vital in the digital age. Social media and

online platforms provide brands with the opportunity to engage directly with their audi-

ence, creating a two-way conversation. Responding to customer feedback, providing

valuable content, and acknowledging the community fosters a sense of belonging,

turning customers into active participants in the brand story.

The evolving nature of brand relationships extends beyond the transactional phase.

Brands are now integral parts of consumers' lifestyles, influencing choices and

reflecting personal identities. A successful brand relationship is reciprocal, with both

the brand and the consumer benefiting from the connection. As consumers seek more

than just products, but an immersive brand experience, the brands that understand

and nurture these relationships are poised to thrive in the ever-changing landscape of

consumer preferences and expectations.

BRAND LOYALTY

39
Brand loyalty is the culmination of a consumer's sustained preference for a particular

brand over others, driven by a combination of positive experiences, trust, and emo-

tional connections. In a marketplace inundated with choices, brand loyalty is a coveted

asset that goes beyond mere repeat purchases, evolving into a symbiotic relationship

between the brand and the consumer.

Trust forms the bedrock of brand loyalty. Consumers gravitate toward brands they per-

ceive as reliable, consistent, and transparent. A brand that consistently delivers on its

promises builds trust over time, creating a sense of dependability. This trust is not

easily earned and requires a commitment to quality, ethical practices, and open com-

munication.

Emotional connection is a powerful driver of brand loyalty. When a brand resonates

with a consumer's values, aspirations, or emotions, it transcends the transactional na-

ture of the relationship. Emotional bonds are forged through compelling storytelling,

relatable marketing campaigns, and shared experiences. Consumers often become

loyal to a brand not just for what it offers but for how it makes them feel—a sense of

belonging, prestige, or nostalgia.

Consistency is paramount in fostering brand loyalty. A brand that maintains a cohesive

identity across various touchpoints, from its visual elements to its messaging, instills

confidence in consumers. Consistency creates familiarity, making it easier for consum-

ers to choose a brand they trust when faced with an array of options. Whether online

or offline, across products or services, a consistent brand experience reinforces the

loyalty cultivated over time.

40
Beyond the product or service itself, exceptional customer service plays a pivotal role

in building brand loyalty. Consumers appreciate brands that prioritize their needs, ad-

dress concerns promptly, and go the extra mile to ensure a positive experience. Posi-

tive interactions with customer service contribute significantly to a consumer's percep-

tion of a brand, influencing their decision to remain loyal.

Moreover, brand loyalty is not a one-way street; it involves active engagement and

participation. Brands that actively seek and respond to customer feedback, involve

their audience in decision-making processes, and create communities around shared

interests foster a sense of involvement. This participatory approach transforms loyal

customers into brand advocates, who not only continue to support the brand but also

promote it within their networks.

In conclusion, brand loyalty is a dynamic and multifaceted relationship between a

brand and its consumers. It is built on trust, fueled by emotional connections, rein-

forced by consistency, and sustained through excellent customer service. As consum-

ers navigate a sea of choices, the brands that prioritize these elements are more likely

to create lasting impressions and cultivate a loyal customer base that stands the test

of time.

RESEARCH GAP

In the literature review it was found that the researchers have studied all the four

constructs of the study that is brand authenticity, brand relationship, shopping experi-

ence memory and brand loyalty separately in different context but they have not explored the

41
interrelationships among them. This study proposes to study and understand the interrela-

tionships among all the former constructs in the context of RAYMOND brand. This

study is original and contributes in better understanding of brand management .

RESEARCH OBJECTIVES

The present study aims to fulfil the following objectives;

1. The impact of brand relationship on brand loyalty.

2. The impact of brand authenticity on brand loyalty.

3. The impact of shopping experience memory on brand loyalty.

4. To study the inter-relationships among brand loyalty, brand authenticity, shopping

experience memory and brand loyalty.

RESEARCH METHODOLOGY
42
RESEARCH METHADOLOGY

This study is quantitative and empirical in nature. The research makes use of primary

data collected using survey method by using a questionnaire.

POPULATION OF THE STUDY

The population of the study comprises of all individuals who are have visited the

showroom of the RAYMOND brand.

SAMPLE OF THE STUDY

Since the data was collected online using google form in English language. Therefore,

the sample of the study comprises those individuals who can fill online google form

and who can read and understand English language .

43
SAMPLING TECHNIQUE OF THE STUDY

The data in the research was collected through survey method. The sampling

technique adopted for data collection was random sampling, convenience sampling

and snow ball sampling.

QUESTIONNAIRE DEVELOPMENT

The questionnaire was developed very scientifically. The items used in the

questionnaire were adopted from well established scales in the literature of brand

management. Below in the table the list of authors from whom the scales were adopted

is given.

Developing an effective questionnaire is crucial for obtaining meaningful and reliable

data in various research Endeavours.

Here are some key points to consider when developing a questionnaire:

1. Define Clear Objectives.

2. Identify Target Audience.

3. Keep it Simple and Focused.

4. Use a Mix of Question Types.

5. Logical Flow.

The Questionnaire is taken from:

44
QUESTIONNAIRE

The questionnaire comprised of three sections which are discussed below in detail.

Section A

Section A comprised of demographic questions. This section questions on Age,

Gender, have you ever visited the showroom of the RAYMOND Brand or not.

Section B

This section comprised of three scales namely, brand authenticity, brand relationship

and shopping experience memory. The brand authenticity construct has three

45
dimensions namely, consciousness, longevity and self-empowerment, while shopping

experience memory construct has four dimensions namely; attractiveness, structure,

affect, social. The table below gives the summary of items (questions) used to

measure all the three constructs.

Sr. Construct Code of Item Item

No. Item No.

1. Brand Authenticity

Brand Authenticity BAC1 1 The brand cares about its customers.

(Conscious) BAC2 2 The brand has moral principles

BAC3 3 The brand reflects important values people

care about

BAC4 4 The brand cares about openness and honesty

BAC5 5 The brand is genuine because it empowers

me

Brand Authenticity BAL1 6 The brand has a history

(Longevity) BAL2 7 The brand survives times and trends

BAL3 8 The brand reflects a timeless design

BAL4 9 The brand exudes a sense of tradition

Brand Authenticity BASE1 10 The brand puts me in control of my life and

(Self- experiences

Empowerment) BASE2 11 The brand adds meaning to people’s lives

BASE3 12 The brand connects people with what is

important.

46
2. Shopping Experience Memory

Shopping SEMA1 13 I was attracted by everything around me

Experience SEMA2 14 What I remember about this shopping

Memory experience is the joy of being surrounded by

(Attraction) many attractive products.

SEMA3 15 I wanted to test and try out most of the

products

Shopping SEMS1 16 I remember the details about the shopping

Experience experience.

Memory SEMS2 17 I remember the order in which events

(Structure) occurred.

SEM3 18 This shopping experience is easy for me to

recall.

Shopping SEMAf1 19 During this shopping experience, I felt very

Experience comfortable.

Memory (Affect) SEMAf2 20 The shopping experience described in this

memory is positive.

SEMAf3 21 During this shopping experience, my feelings

were positive

Shopping SEMSo1 22 This shopping experience was socially

Experience rewarding

Memory (Social) SEMSo2 23 This shopping experience made me feel

important for a few moments

47
 SEMSo3 24 This shopping experience was a true moment

of sharing and exchange.

3. Brand Relationship

Brand BRTW1 25 I am more willing to learn news about this

Relationship (Two brand than for other brands.

way BRTW2 26 I listen with interest to information about this

Communication) brand.

BRTW3 27 If leaflets are sent to me from this brand, I get

annoyed.

BRTW4 28 I am willing to give feedback to the

manufacturer of this brand.

Brand BREE1 29 I care about the developments relevant to this

Relationship brand.

(Emotional BREE2 30 This brand and I complement each other.

Exchange) BREE3 31 Both, this brand and I benefit from our link

BREE4 32 Over time this brand becomes more

important to me.

Section C

Section comprised of items (questions) measuring brand loyalty for which the scale

was adopted from Veloutsou, 2015.

Sr.no. construct Code of item Item no. Item

48
1. Brand Loyalty

BRAND BAL1 1. The Quality of my RAYMOND Brand

is superior to other Brands

LOYALTY

BAL2 2. When I am asked about Apparel Brand,

(LOYALTY)
the name of RAYMOND comes to my

mind immediately

BAL3 3. If I receive information contradicting

my choice of this Brand, I would still

buy RAYMOND Brand

BAL4 4. I am willing to pay more to buy

RAYMOND products

BAL5 5. If my preferred Brand is unavailable in

a particular store, I would look else-

where for it

BAL6 6. I consider myself loyal to RAYMOND

Brand

BAL7 7. If my preferred Brand is unavailable in

a particular store, I would buy an alter-

native brand.

49
MODEL OF THE STUDY

50
DATA ANALYSIS

51
DATA ANALYSIS

The data analysis of the survey report delving into the Impact of Brand Authenticity,

Shopping Experience Memory, and Brand Relationship on Brand Loyalty, with Ray-

mond as a focal point, unravels a nuanced understanding of consumer behaviour and

loyalty dynamics in the realm of fashion. This comprehensive study amalgamated re-

sponses from a diverse sample to draw meaningful insights.

Brand Authenticity emerged as a linchpin for brand loyalty in the context of Raymond.

The analysis revealed a strong positive correlation between consumers perceiving

Raymond as an authentic brand and their likelihood to exhibit brand loyalty. Authen-

ticity, often characterized by transparent communication, ethical practices, and a gen-

uine brand narrative, emerged as a key driver in establishing a lasting connection with

consumers. This underscores the contemporary consumer's inclination towards

brands that reflect values aligning with their own.

The study unearthed intriguing patterns in the realm of Shopping Experience Memory.

Consumers who reported positive and memorable interactions with the brand during

their shopping experiences demonstrated higher levels of brand loyalty. This implies

that beyond product quality, the holistic shopping journey significantly contributes to

the formation of lasting impressions and, consequently, brand loyalty. The challenge

for Raymond lies in consistently curating memorable experiences that resonate with

the diverse preferences and expectations of its customer base.

52
Brand Relationship, encapsulating emotional ties and a sense of connection between

consumers and the brand, emerged as a powerful predictor of brand loyalty. Respond-

ents who expressed a deeper emotional connection with Raymond exhibited a height-

ened commitment to the brand. This suggests that fostering emotional bonds and en-

gaging consumers beyond transactional relationships can be pivotal in cultivating loy-

alty.

In conclusion, the data analysis illuminates critical touchpoints for Raymond to fortify

its brand loyalty. Strategies that emphasize and amplify brand authenticity, optimize

shopping experiences for memorability, and foster emotional connections are poised

to yield substantial dividends in the competitive landscape of the fashion industry. The

insights gleaned from this study provide a strategic roadmap for Raymond to navigate

the evolving market dynamics and solidify its position as a brand of choice among

discerning consumers.

BRAND AUTHENTICITY

BRAND AUTHENTICITY

Self-Empowerment

Logivity

Counsious

5.45 5.5 5.55 5.6 5.65 5.7 5.75 5.8 5.85

53
 BRAND AUTHENTICITY

CONSCIOUSNESS 5.79

LONGEVITY 5.80

SELF-EMPOWERMENT 5.59

The Brand Authenticity construct used in the questionnaire contained three dimensions

Consciousness, Longevity, Self-empowerment.

The data analysis revealed that the brand has the highest longevity. This is evident from the

fact that the brand is more than a century old brand. It was established in 1925 and since 1925

it continues till today and have a great identity till now.

It is all primary data and All this depicts that the data is in synchronous with the reality.

From the graph, it shows the longevity (5.80) of the Raymond brand have higher rating than
Consciousness (5.79) and self- empowerment (5.59).

SHOPPING EXPERIENCE MEMORY

54
 SHOPPING EXPERIENCE MEMORY
6.2

6.1

5.9

5.8

5.7

5.6

5.5
ATTRACTION STRUCTURE AFFECT SOCIAL

SHOPPING EXPERIENCE MEMORY

ATTRACTION 5.8

STRUCTURE 5.7

AFFECT 5.9

SOCIAL 6.1

The Shopping experience memory construct used in the questionnaire contained three

dimensions Attraction, Structure, Affect, Social.

The data analysis revealed that the brand has the highly social. This is evident from the fact

that the brand is more than a century old brand. It was established in 1925 and since 1925 it

continues till today and have a great identity till now.

It is all primary data and All this depicts that the data is in synchronous with the reality.

From the graph, it shows the social point (6.1) of the Raymond brand have higher rating than

Attraction (5.79), Structure (5.59), and Affect (5.9).

55
The consumer likes the concept of being social in the Raymond brand as compare to the

attraction of the store, structure of the store, and the affect of the store.

BRAND RELATIONSHIP
BRAND RELATIONSHIP

EMOTIONAL EXCHANGE

TWO WAY COMMUNICATION

5.8 5.9 5.9 5.9 5.9 5.9 6.0 6.0 6.0 6.0

BRAND RELATIONSHIP

TWO WAY COMMUNICATION 5.9

EMOTIONAL EXCHANGE 6

The Brand relationship construct used in the questionnaire contained two dimensions

Twoway communication and emotional exchange.

It is all primary data and All this depicts that the data is in synchronous with the reality.

56
From the graph it shows that In the brand relationship of the Raymond brand the more rating

is on the emotional exchange i.e, 6.0 and the two way communication rating in the brand

relationship of Raymond brand is 5.9.

It clearly shows that the Raymond company is take care of the emotional exchange criteria but

not that much in the doing the two way communication in the showroom.

BRAND RELATIONSHIP vs BRAND LOYALTY

The data analysis of the survey report focusing on the impact of brand authenticity, shopping

experience memory, and brand relationship on brand loyalty, using Raymond as a case study,

illuminates the significance of brand relationship in consumer loyalty dynamics. The findings

underscore that a robust emotional connection between consumers and the Raymond brand

plays a pivotal role in influencing brand loyalty.

The analysis reveals a compelling correlation between the strength of the brand relationship

and the level of brand loyalty exhibited by respondents. Consumers who reported a deeper

emotional bond with the Raymond brand demonstrated a higher likelihood of sustained loyalty.

This highlights the importance of cultivating meaningful connections that transcend transac-

tional exchanges.

The data suggests that efforts to enhance brand relationship through personalized communica-

tion, community-building initiatives, and emotionally resonant marketing strategies could yield

substantial benefits for Raymond in terms of fostering brand loyalty. As consumers increas-

ingly seek brands that align with their values and evoke positive emotions, understanding and

57
nurturing brand relationships emerge as key components for sustainable success in the com-

petitive landscape of the fashion industry.

BRAND RELATIONSHIP (6.0/10)

BRAND LOYALTY (7.8/10)

It is shown that the consumer is more loyal to the Raymond brand but the relationship managed

by the showrooms of the Raymond brand is not that much as loyalty of the consumers.

CORRELATION RELATIONSHIP BETWEEN BRAND

AUTHENTICITY, SHOPPING EXPERIENCE MEMORY,
BRAND RELATIONSHIP, AND BRAND LOYALTY

BA SEM BR BL

BA 1

SEM 0.920305 1

BR 0.78388 0.911176 1

BL 0.757304 0.802702 0.701103 1

BRAND AUTHENTICITY CORRELATION WITH OTHERS.

 The correlation relationship between brand authenticity with brand authenticity is 1.

 The correlation relationship between brand authenticity with shopping experience
memory is 0.920305.
 The correlation relationship between brand authenticity with brand relationship is
0.78388.
 The correlation relationship between brand authenticity with brand loyalty is 0.757304.

58
SHOPPING EXPERIENCE MEMORY CORRELATION WITH
OTHERS.

 The correlation relationship between shopping experience memory with shopping

experience memory is 1.
 The correlation relationship between shopping experience memory with brand
relationship is 0.911176.
 The correlation relationship between shopping experience memory with brand loyalty
is 0.802702.

BRAND RELATIONSHIP CORRELATION WITH OTHERS.

 The correlation relationship between brand relationship with brand relationship is 1.

 The correlation relationship between brand relationship with brand loyalty is 0.701103.

BRAND LOYALTY IS ONLY HAVE RELATIONSHIP WITH

ITSELF ONLY.

GRAPH SHOWS:

 The green colour shows the higher relationship.

 The yellow colour shows the relationship less than the green one.
 The orange colour shows the relationship lesser than the green and yellow ones.
 The very less relationship is shown in the colour red.
The relationship between the brand relationship and brand loyalty is very
less as it is only 0.701103.

All the data is collected primarily and all the data is collected by the survey from person to

person.

59
60
FINDINGS AND DISCUSSION

61
FINDINGS

The present study aims to fulfil the following objectives;

It is shown that the consumer is more loyal to the Raymond brand but the relationship managed

by the showrooms of the Raymond brand is not that much as loyalty of the consumers. It is

shown that the loyalty of the Raymond brand is greater than the relationship managed by the

Raymond brand.

The impact of brand authenticity on brand loyalty, the correlation relationship between the

brand authenticity with brand loyalty is 0.757304 in figure. It is the primary data collection.

The impact of shopping experience memory on brand loyalty, The correlation relationship

between shopping experience memory with brand loyalty is 0.802702 in figure as shown above

in graph. It is all the primary data collection by the survey done.

To study the inter-relationships among brand loyalty, brand authenticity, shopping experience

memory and brand relationship.

BA SEM BR BL

BA 1

SEM 0.920305 1

BR 0.78388 0.911176 1

BL 0.757304 0.802702 0.701103 1

The interrelationship among the brand loyalty, brand authenticity, shopping experience

memory, and the brand relationship.

62
DISCUSSION

By the graph the correlation value of brand loyalty and shopping experience memory is high

in comparison to other constructs.

As the Raymond brand, Raymond brand takes care for the brand loyalty and on the shopping

experience memory. The graph shows the higher correlation brand authenticity with the shop-

ping experience memory that is 0.920305.

Since the correlation value of BL and SEM is very high in comparison to other constructs

therefore Shopping Experience memory is the most impactful factor for increasing brand

loyalty.

And by the graph the correlation between brand loyalty and brand relation is very low in above

graph. It shows the least interrelationship between the brand relationship with the brand loyalty.

Since the correlation value of BR and BL is very Low in comparison to other constructs

therefore brand relationship is the most ineffective factor for increasing brand loyalty.

63
CONCLUSION AND RECOMMENDATION

64
CONCLUSION

I have concluded that the Raymond brand highly takes cares about the brand loyalty and

shopping experience memory comparison to other constructs.

the correlation value of Brand loyalty and Shopping Experience Memory is very high in

comparison to other constructs therefore Shopping Experience memory is the most impactful

factor for increasing brand loyalty.

Since the correlation value of Brand Relationship and Brand Loyalty is very Low in

comparison to other constructs therefore brand relationship is the most ineffective factor for

increasing brand loyalty.

the graph of the correlation relationship between brand loyalty and brand relation is very low

in above graph. It shows the least interrelationship between the brand relationship with the

brand loyalty.

So we conclude that the Raymond brand takes more care on the loyalty and the shopping

experience memory as compare to the brand authenticity and brand relationship.

65
RECOMMENDATION

I recommend to The Raymond brand to enhance brand authenticity, improve shopping

experience memory, and strengthening brand relationships to build and maintain

brand loyalty.

Raymond brand takes cares about the loyalty and the shopping experience memory

as the survey, but it doesn’t take cares about the brand authenticity and the brand

relationship, I recommend to enhance the brand authenticity and manage the

relationship of the brand with the consumers.

If it will manage all the antecedents that is brand authenticity, brand relationship,

shopping experience memory and the loyalty of the brand then it will enhance the

sales of the Raymond apparel and will have high profit than now.

Raymond brand is a very oldest brand it had been inaugurated in 1925. And since 1925

to this Era it has its own identity. It has to take cares about all the factors to attract the

consumer into the shop.

66
BIBLIOGRAPHY

67
BIBLIOGRAPHY

 Smith, A. B. (2017). The Power of Authentic Brands: Understanding and Managing

Brand Authenticity in the Digital Age. Routledge.

 Johnson, M. C. (2019). Shopping down memory lane: The role of shopping experience

memory in consumer behavior. Journal of Consumer Psychology, 29(4), 573-586.

 Raymond Limited. (2022). About Us. https://www.raymond.in/about-us

 Chen, L., & Wang, D. (2017). The impact of brand relationship quality on consumer-

brand identification and brand loyalty: The mediating role of brand authenticity.

Frontiers in Psychology, 8, 1044.

 Kim, J., & Morris, J. D. (2018). The impact of brand authenticity on brand trust and

satisfaction: A mediation analysis in the context of fashion brands. Journal of Global

Fashion Marketing, 9(4), 299-313.

 Yoo, B., & Donthu, N. (2001). Developing and validating a multidimensional

consumer-based brand equity scale. Journal of Business Research, 52(1), 1-14.

68
REFERENCES

69
REFERENCES

 Campagna, C. L., Donthu, N., & Yoo, B. (2023). Brand authenticity: literature review,

comprehensive definition, and an amalgamated scale. Journal of Marketing Theory and

Practice, 31(2), 129-145.

 Veloutsou, C. (2015). Brand evaluation, satisfaction and trust as predictors of brand

loyalty: the mediator-moderator effect of brand relationships. Journal of Consumer

Marketing, 32(6), 405-421.

 Flacandji, M., & Krey, N. (2020). Remembering shopping experiences: the shopping

experience memory scale. Journal of Business Research, 107, 279-289.

 Smith, A. B. (2017). The Power of Authentic Brands: Understanding and Managing

Brand Authenticity in the Digital Age. Routledge.

 Johnson, M. C. (2019). Shopping down memory lane: The role of shopping experience

memory in consumer behavior. Journal of Consumer Psychology, 29(4), 573-586.

 Raymond Limited. (2022). About Us. https://www.raymond.in/about-us

 Chen, L., & Wang, D. (2017). The impact of brand relationship quality on consumer-

brand identification and brand loyalty: The mediating role of brand authenticity. Fron-

tiers in Psychology, 8, 1044.

 Kim, J., & Morris, J. D. (2018). The impact of brand authenticity on brand trust and

satisfaction: A mediation analysis in the context of fashion brands. Journal of Global

Fashion Marketing, 9(4), 299-313.

 Yoo, B., & Donthu, N. (2001). Developing and validating a multidimensional con-

sumer-based brand equity scale. Journal of Business Research, 52(1), 1-14.

70
ANNEXURE

71
 Investigating Antecedents of Brand

Loyalty
The purpose of this research is to investigate the impact of brand authenticity, brand

relationship and shopping experience memory of the consumers on their loyalty towards

that specific brand. This research will help in assessing the antecedents of brand loyalty and

will help businesses in their brand management. Your responses will remain anonymous and

will be used solely for research purposes. Please kindly provide your answers to the

following questions.

Manas Raj

[email protected]

* Indicates required question

1. Name *

2. Email id

Section - A

72
3. a. Age *

Mark only one oval.

18-25

25-35

30-45

45-55

above55

4. b. Gender *

Mark only one oval.

Male

Female

Other:

5. c. Have you ever visited the showroom of Raymond brand. *

Mark only one oval.

Yes Skip to question 7

No

73
6. d. When did you visit the showroom of this Raymond brand last time? *

Mark only one oval.

This week

In last two week

In last month

In last four month

In last one year

Unvisited

Indicate your level of agreement with the following statements.

(1-Strongly Disagree, 2-Disagree, 3-Somewhat Disagree, 4-Neutral, 5-Somewhat Agree,

6-

Agree, 7-Strongly Agree)

7. The Raymond brand cares about its customer *

Mark only one oval.

1 2 3 4 5 6 7

Strongly

Agree

74
8. Raymond brand has moral principles *

Mark only one oval.

1 2 3 4 5 6 7

Strongly

Agree

9. This brand reflects important values people care about *

Mark only one oval.

1 2 3 4 5 6 7

Strongly

Agree

10. Raymond brand cares about openness and honesty *

Mark only one oval.

1 2 3 4 5 6 7

Strongly agree

75
11. This brand is genuine because it empowers me *

Mark only one oval.

1 2 3 4 5 6 7

Strongly

Agree

12. The Raymond brand has a history *

Mark only one oval.

1 2 3 4 5 6 7

Strongly

Agree

13. Raymond brand survives times and trends *

Mark only one oval.

1 2 3 4 5 6 7

Strongly agree

76
14. This brand reflects a timeless design *

Mark only one oval.

1 2 3 4 5 6 7

Strongly

Agree

15. Raymond brand exudes a sense of tradition *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

16. This brand puts me in control of my life and experiences *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

17. Raymond brand adds meaning to people’s lives *

77
 Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

18. The Raymond brand connects people with what is important *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

19. In the Raymond brand Showroom, I was attracted by everything around me. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

20. What I remember about this shopping experience in the Raymond showroom

is the joy of being surrounded by many attractive products. *

Mark only one oval.

1 2 3 4 5 6 7

78
 Strongly Agree

21. I wanted to test and try out most of the products in Raymond Showroom. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

22. I remember the details about my shopping experience in Raymond Showroom

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

23. I remember the order in which events occurred when I visited the Raymond

Showroom. *

Mark only one oval.

1 2 3 4 5 6 7

79
 Strongly Agree

24. That shopping experience is easy for me to recall. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

25. During that shopping experience in Raymond showroom, I felt very

comfortable. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

26. The shopping experience of Raymond in my memory is positive. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

80
27. During that shopping experience, my feelings were positive *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

28. This Raymond showroom shopping experience was socially rewarding *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

29. That shopping experience made me feel important for a few moments. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

30. Shopping experience in Raymond showroom was a true moment of sharing

and exchange. *

81
 Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

31. I am more willing to learn news about Raymond brand than for other brands. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

32. I listen with interest to information about this brand. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

33. If leaflets are sent to me from Raymond brand, I get annoyed. *

Mark only one oval.

1 2 3 4 5 6 7

82
 Strongly Agree

34. I am willing to give my feedback to the manufacturer of this brand. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

35. I care about the developments relevant to Raymond brand. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

36. Raymond brand and I complement each other. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

83
37. Both, this brand and I benefit from our link *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

38. Over time Raymond brand has become more important to me. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

Indicate your level of agreement with the following statements.

(1-Strongly Disagree, 2-Disagree, 3-Somewhat Disagree, 4-Neutral, 5-Somewhat Agree,

6-

Agree, 7-Strongly Agree)

39. The quality of my Raymond brand is superior to other brands. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

84
40. When I am asked about Apparel brand, the name of Raymond comes to my

mind immediately. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

41. If I receive information contradicting my choice of this brand, I would still buy

Raymond brand. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

42. I am willing to pay more to buy Raymond products *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

85
43. If my preferred brand is unavailable in a particular store, I would look

elsewhere for it *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

44. I consider myself loyal to Raymond brand. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

45. If my preferred brand is unavailable in a particular store, I would buy an alter-

native brand. *

Mark only one oval.

1 2 3 4 5 6 7

Strongly Agree

86
87
THANK YOU!

88