Najmus Saqib, store director for The Raymond Shop in Pakistan, is pictured inside the store premises in Karachi on June 21, 2013. PHOTO: AFP
KARACHI: Raymond, an Indian suiting and fabrics conglomerate, will on Friday formally open its first shop in Pakistan, where business leaders welcomed it as a step towards closer trade ties between the two nuclear rivals.
NexSource Pakistan, which acquired the rights to sell Raymond suiting in Clifton, one of the most upscale neighbourhoods in business capital Karachi, said it was a major acquisition.
"They wanted to bring Raymond to Pakistan and we offered to be their partner," said one of its directors, Najmus Saqib.
Nexsource say they expect to reap good business after an aggressive advertising campaign in a city whose wealthier residents are sartorially obsessed and where fashion is a key driver of business.
"People are crazy about clothing and dressing, and they already know Raymond," Saqib said. "We just have to let them know that it is here."
Realations between India and Pakistan are traditionally strained and have reflected in the limited business and trade ties between the two neighbouring countries.
New Delhi broke off peace talks with Islamabad after Pakistani gunmen killed 166 people in Mumbai in 2008. But lower-level talks have since resumed, focusing largely on trade and visas.
Newly elected Prime Minister Nawaz Sharif has called for closer rapprochement with India since winning general elections in May.
Cross-border attacks over the Line of Control have done more harm than good for relations.
However NexSource executive Saqib said he believed the enormous Indian market represented massive business opportunities for Pakistan.
"We expect a good response (through Raymond) but we believe it is a futuristic investment as we can explore a market 10 times bigger than ours," said Saqib.
Pakistani business leaders welcome the arrival of the Indian brand, which was founded in 1925 and whose Karachi shop is to be inaugurated formally later on Friday. Many Pakistani products are popular in India too.
"As long as there is healthy competition we welcome this move," said Amin Hashwani, president of the Pakistan India Business Forum.
Nexsource say they plan to open more Raymond outlets in Islamabad, Lahore and Faisalabad before the end of the year.
COMMENTS (19)
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Nusli wadia owns Bombay dyeing and not raymonds. He and ambani used to argue and were fierce competitors but ambanis won the business turf battle, not denying, Bombay dyeing is still a good brand and bringing in profits. Dina wadia is nusli wadias mother and the only child of Mr jinnah. She is having a court case in the Bombay high court asking custody of the bungalow which belonged to her father jinnah. She will win it if she survives a few more years otherwise nusli will carry on with the case. Rab rakha
@Alam:
"If your argument is accepted then Kashmiris should cast their lot with China which is already a super power in stead of waiting for India to become so."
China is not really a super power in the real sense. They have a long way to catch up with the US. The most glaring statistic is that while the US per capita GDP is $50,000 while that of China is $6,000. Even in purchasing power parity terms, China's per capita GDP is $8,000. Even India is already the third in terms of ppp total GDP.
China and India, while #2 and #3 in total GDP, it must be noted that this number is totally skewed by the huge population of both countries.
China's economy will collapse if Walmart and a few other major western outfits cancel their orders from China, the Chinese economy will collapse.
So, until countries like China and India mange to bring their per capita GDP to close to that of the US and other big nations, all this talk of being a global power is ridiculous.
@ak: religion and business are separate things! don't amalgamate..
Dear Alam: Your argument is wrong. China is a different country. Different culture, language, lifestyle, food and people. Kashmiris cannot mix with Chinese people. The culture of India, Pakistan and Kashmir is same. Pakistan and China have nothing in common. The only reason we are friends is because of common enemy...India. No other reason. Hope that answers your concern
@manjit singh: Raymond is owned by ambanis. don't make itself an idiot.
If your argument is accepted then Kashmiris should cast their lot with China which is already a super power in stead of waiting for India to become so.
@sm: IF you or any one in Pakistan occupied Kashmir needs a complex surgery to be performed to lead a healthy life again, don’t hesitate, Indians are generous enough to lend a helping hand.
For Indians humanity comes first. In Pakistan religion comes first, then sex. In some rural places a woman may die rather then let a male doctor look at her body. Internet porn is very popular in Pakistan.
@manjit singh: Nulsi Wadia owns Bombay Dyeing and an IPL Franchise Punjab Kings IX. There is one Pakistani ( UK Citizen ) player in the same IPL team.
@sm: I believe you meant to say that Indians have been gracious enough.
@Pro Bono Publico: Occupiers of Kashmir??? Kashmiris do not want to be a part of a failed state like Pakistan. They would rather be with a country with great potential to be a super power like India. Some old timers are still screaming and shouting but the young generation knows which way to go. Hope that answers your concern.
@Pro Bono Publico:
every year many Pakistanis cross the border in to India to save their lives.We all know the state of medical care in Pakistan,and Indians have been grateful enough to help those Pakistanis by providing high end medical care at highly competitive cost, far cheaper than what is in Pakistan.IF you or any one in Pakistan occupied Kashmir needs a complex surgery to be performed to lead a healthy life again, don't hesitate, Indians are generous enough to lend a helping hand.
@manjit singh: Raymond group is owned by Gautam Singhania - Nusli wadia , grandson of Mohd Ali Jinnah, has nothing to do with Raymond.
sorry ,wadia is the owner of other major clothing house of india;bombay dyeing,
Raymond is owned by Nusli Wadia, grandson of Mohamed ali Jinnah
@Pro Bono Publico: OOoo EnoughhhhH with this Occupied Kashmir stuff!! Get a life! Let the Kashmiris solve their own problems!
I am afraid of the shop getting bombed and the owner getting killed. Very good idea to trade goods as is done in the rest of the world...but Pakistan is a different world altogether. May Allah keep the shop, the owner and his vision alive.
So now Pakistanis have to depend on the occupiers on Kashmir for their clothing.
two suits and 4 shirts stitched by raymond dubai are the most horrible things in my wardrobe