Sanjay Behl, chief executive officer of Indian menswear giant Raymond, said that when he looks into the “third horizon” of the future for his business, he can see a time when it creates software instead of physical clothing.
Speaking at Adobe’s Symposium in Mumbai today, Behl was discussing the ways in which the company was transforming digitally, along three horizons in the future.
At the third horizon, most distantly in the future, he prophesied a point at which clothing would be designed digitally and may even be downloaded by a person, making clothing “irrelevant”.
“We could imagine dresses and clothing, which could become digitally designed. Is see us going from a product company to a software company,” he said. “My sense is that clothing will become irrelevant for part of the population, whether you want it on cloth or skin will depend on customer. Instead of selling plain racks of shirts, we could sell consoles and have a business in software; these are the things that could happen.”
Nearer to home, at the first horizon, Raymond has already made significant changes to its business, fueled by technology. The first stage, which the company has already done, is around using digital to enable change for the value change.
“The first horizon is about digital enablement for entire value chain; creating micro segments, profiling, communicating in a more focused way, campaign management. It is a digital enablement strategy,” he explained.
The second horizon, a part that is well under way for Raymond, is about consolidating brands, most specifically from a data point of view, so that it’s able to be more consistent with its experiences across online and offline.