Raymond Lifestyle Ltd. (RLL), set to list its shares on the bourses on September 5, 2024, is gearing up for its largest retail expansion yet, aiming to open 900 new outlets over the next three years. With an ambitious target of achieving a 15% Compounded Annual Growth Rate (CAGR), the company is looking to capture a 7% market share in the rapidly growing men’s-wear wedding market by 2027.
Following the demerger of its retail and lifestyle businesses, Raymond now operates as two listed entities, with RLL focused on unlocking shareholder value through specialized business ventures. With a nearly century-long legacy, Raymond stands as the largest brand in India’s men’s-wear wedding segment, valued at approximately ₹75,000 crore. In FY’24 alone, RLL achieved ₹2,550 crore in sales from its wedding and ceremonial attire, including its premium wedding brand Raymond and its ethnic wear line Ethnix.
Positioning itself as a pure-play consumer business, RLL is implementing a three-pronged strategy that focuses on strengthening its core branded textiles, accelerating growth in garmenting, and expanding into new categories such as ethnic wear, innerwear, sleepwear, and international retail. To enhance its distribution reach, RLL plans to launch 650 Exclusive Brand Outlets (EBOs) across India over the next three years.
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.”
Commenting on RLL’s growth strategy, Amit Agarwal, Chief Financial Officer of Raymond Group, said, “In the next three years, we expect Raymond Lifestyle to double its EBITDA to over ₹20 billion. We are also forecasting a 12–15% sales growth in the lifestyle sector. Our goal is to secure a 7% share in the dynamic men’s-wear wedding market by 2027.”
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.
Recognized as the 10th strongest brand in India by Brand Finance, Raymond is the only fabric and apparel brand to hold such distinction. Guided by its iconic “The Complete Man” legacy, Raymond continues to uphold its values of trust, quality, and excellence. With RLL poised to lead the future of men’s fashion, the brand remains committed to defining timeless elegance for modern consumers.
