The world’s leading textile company, Raymond Lifestyle, is preparing to add 900 new outlets over the next three years. This expansion comes as a part of their strategy, following the demerger of their retail and lifestyle businesses.
Notably, Raymond Group is the largest brand in the Indian men’s wedding wear market, estimated at Rs 75,000 crore. As per the reports, the company has sales of Rs 2,550 crore from wedding business in the fiscal year 2024. These including its exquisite collection from wedding and ceremonial attire and ethnicities.
Listed in stock exchange
In a recent announcement, the company said that they will be listed on stock exchanges on September 5. The Raymond Groups Lifestyle business entity is intending to achieve a 15% compound annual growth rate in order to attain 7% market share in the fast-growing men’s wedding wear market by 2027.
Gautam Singhania, Chairman and Managing Director of the company said that the demerger of their retailing business is aimed at creating a focused lifestyle business entity. By year’s end, Raymond Lifestyle hopes to be ranked among the three major suppliers in the international market.
“The global scenario presents significant opportunities, particularly the challenges in China and Bangladesh and trade agreements with the UK, EU, and Australia,” he further added.
Sunil Kataria, CEO of Raymond Group, said that the company has already solidified its position in ethnic wear market, and now they are planning to expand their physical presence with an additional 300 Ethnix stores by 2028. “We believe that we can achieve unparalleled growth in this wedding segment,” he asserted.
This is to be noted that currently, the company has around 1,518 stores in India and 48 overseas stores in seven countries. Including Dubai, London, New York, Toronto, Sydney, Johannesburg, Singapore, etc.
Further, while speaking about the RLL’s (Raymond Lifestyle Limited) growth plans, Amit Aggarwal, Chief Financial Officer, said, “In the next three years, we anticipate Raymond Lifestyle doubling its EBITDA earnings before interest, tax, depreciation, and amortization to over Rs 20 billion. We are also looking forward to 12-15% sales growth in the lifestyle sector.”
History
Additionally, Raymond is a prominent name in the textile industry. It has a rich history dating back to the early 19th century. It was founded by Albert Raymond and Abraham Jacob Raymond at the Raymond Woolen Mill near Thane, Maharashtra, in 1925. During the initial days, the company aimed at producing woolen fabrics, which were high in demand, especially for the Indian Defense Forces.
Growth and Evolution
In 1944, the company was taken over by Lala Kailash Pat Singhania, marking the beginning of a new era. Under his leadership, the company has undergone massive transformation from a small-scale business to a globally recognized one. It expanded its range by adding high-quality suiting fabrics and ready-to-wear garments.
1958, Raymond opened its first-ever exclusive retail showroom at King’s Corner, in Mumbai, and by 2000. It had become a household brand name in the Indian market, known for its premium-quality fabrics and stylish apparel.
Kanishka Malhotra is a seasoned journalist with a deep passion for reporting and uncovering the truth. With a specialization in research and investigative Journalism, she has covered wide range of topics related to social issues, travel, lifestyle, technology, Entertainment and much more. She believes to express and share her creativity to the world through words. With relentless pursuit of knowing and uncovering the truth, Kanishka continues to leave a mark in the world of journalism.
Comments