Post-listing Raymond Lifestyle Ltd. to focus on increasing market share in men’s wedding wear, enter new categories, and increase store footprint
Mumbai: Raymond Lifestyle Ltd. (RLL), the lifestyle business arm that got demerged from Raymond Ltd. in July this year, will list on the country’s bourses—National Stock Exchange and Bombay Stock Exchange—on 5 September, the company announced to the media on Tuesday in Mumbai.
RLL has clear growth plans as a separate listed entity.
These include adding 900 new outlets over three years and a 15% Compounded Annual Growth Rate (CAGR) to attain around 7% market share in the fast-growing Men’s-Wear wedding market by 2027.
“We are also launching new categories such as sleepwear and innerwear. Several other categories are also in the pipeline,” Sunil Kataria, chief executive officer, Raymond Lifestyle, said.
“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,” he added.
Backed by a legacy of nearly a century, Raymond has a market-leading 5% share in the Indian menswear wedding market, estimated at around Rs 75,000 crore. It is now planning to focus on growing its wedding fabric business to emerge among top three global fabric suppliers by the end of this year. It reported sales of Rs 2550 crore from the wedding business in financial year 2024, which includes Raymond’s wedding and ceremonial attire and Ethnix, its Indian ethnic wear offering which it launched 18 months ago.
“Raymond has been in the Lifestyle business for 99 years. We believe that the sum of parts valuation of this business will be exponential. You are going to see a company that makes fabrics, branded, apparel, made-to-measure, sleepwear, ethnic wear, home products various categories all in one,” Gautam Singhania, chairman and managing director, Raymond Group, said.
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, Amit Agarwal, chief fnancial officer, Raymond Group, said, “In the next three years, we anticipate Raymond Lifestyle doubling its EBITDA to over Rs 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 Lifestyle Limited’s portfolio includes brands 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.
