Raymond Lifestyle’s bourse debut: Eyes on 7% share in men’s-wear wedding market by 2027
Raymond, which will now have two listed entities following
the demerger of its retail and lifestyle businesses, is focussed on unlocking
shareholder value by creating specialised businesses. Backed by a legacy of
nearly a century, Raymond enjoys the position as the largest brand in the
Indian Men’s-Wear wedding market, estimated at around Rs 75,000 crore. RLL,
which is set to emerge among top three global fabric suppliers by the end of
this year, has sales of Rs 2550 crore from the wedding business in FY’24, which
includes Raymond’s wedding and ceremonial attire and Ethnix, its Indian ethnic
wear offering.
Underscoring RLL’s role in further cementing itself in
rapidly-expanding lifestyle segment, Mr. Gautam Singhania, Chairman and
Managing Director, Raymond Group, said, “The demerger aims at unlocking
shareholder value by creating a focussed lifestyle business entity. Raymond
Lifestyle will sharpen strategic focus in this fast-growing sector to become among
the top three global fabric suppliers by the end of this year. The global
scenario presents significant opportunities, particularly the challenges in
China and Bangladesh and trade agreements with the UK, EU and Australia.”
Highlighting RLL’s massive expansion plans, Mr. Sunil
Kataria, CEO, Raymond Lifestyle, said, “The Raymond brand enjoys an iconic
status in the Indian Wedding Men’s-Wear market. With Raymond Lifestyle, we are
all set to embark upon the largest-ever retail expansion with 900 new outlets
over three years, alongside launching new categories such as sleepwear and
innerwear. Several other categories are also in the pipeline. When it comes to
our existing brands, Ethnix has already established its distinct position in
the market, and we plan to nearly triple our physical presence with an
additional 300 Ethnix stores in the next three years. We believe that we can
achieve unparalleled growth in this wedding segment, significantly
consolidating our position as the dominant market leader.”
As a focussed, pure play consumer business, RLL is pursuing
a three-pronged strategic approach of strengthening the core of branded
textile, accelerating the growth of apparel garmenting and building new
categories such as ethnic wear, inner wear, sleep wear and international
retail. RLL is focussed on enhancing the distribution presence in the country
and plans to set up over 650 Exclusive Brand Outlets (EBOs) over the next three
years.
Speaking about RLL’s growth plans, Mr. Amit Agarwal, Chief
Financial Officer, Raymond Group, said, “In the next three years, we anticipate
Raymond Lifestyle doubling its EBITDA to over ₹20 billion. We are also looking
towards a 12–15% sales growth in the lifestyle sector. The aim for Raymond
Lifestyle would be to capture around 7% market share in the dynamic Men’s-Wear
wedding market by 2027.”
Raymond is the 10th strongest brand in India, and the only
fabric and apparel brand as recognised by Brand Finance. Guided by the enduring
legacy of “The Complete Man”, Raymond has always epitomised the values of
trust, quality and excellence. RLL is set to carry this legacy forward,
continuing to define men’s fashion with the same timeless elegance.
About Raymond Lifestyle Limited
Raymond Lifestyle Limited is India's largest integrated manufacturer of worsted suiting, offering comprehensive products for fabric and garmenting. With a legacy spanning over a century, Raymond has become synonymous with quality, innovation, and market leadership. The company's diverse portfolio includes some of the most iconic brands in the industry, such as ‘Park Avenue’, ‘ColorPlus’, ‘Parx’, ‘Raymond Made to Measure’, ‘Raymond Fine Fabrics’, ‘Raymond Ready to Wear’, and ‘Ethnix by Raymond’ amongst others. Raymond has one of the largest retail networks in India, with over 1,500 stores across 600 cities and towns. The company also has a significant hold over the B2B space through its garments business. Located in Bangalore and Ethiopia, the state-of-the-art garment manufacturing facilities manufacture suits, shirts, trousers for famous fashion brands throughout the world..
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