Raymond Lifestyle Expands Ethnix Stores to Reinforce “The Complete Man” in India’s Wedding Wear Market

Raymond Lifestyle Eyes 15% CAGR to Capture 7% Market Share in Men’s Wedding Wear by 2027

Raymond Lifestyle Expands Ethnic Wear Footprint with 300 New Ethnix Stores by 2027

BILKULONLINE

Ahmedabad, August 29, 2024: Raymond Lifestyle Ltd (RLL), the soon-to-be-listed demerged entity of Raymond Group, has set an ambitious target of achieving a 15% Compounded Annual Growth Rate (CAGR) to secure around 7% market share in India’s rapidly expanding men’s wedding wear market by 2027. The Indian men’s wedding wear market, currently estimated at approximately ₹75,000 crore, sees Raymond as the largest branded player, leveraging a century-long legacy of excellence.

• Raymond Lifestyle is set to significantly boost its presence in the ethnic wear segment, aiming to add 300 new Ethnix stores over the next three years.
  The expansion is part of a broader strategy to capture a larger share of the ₹75,000 crore Indian men’s wedding wear market, targeting a 15% CAGR.

In FY 2024, RLL reported sales of ₹2,550 crore from its wedding business, which includes the Raymond brand’s wedding and ceremonial attire, as well as Ethnix, its Indian ethnic wear offering.

Sunil Kataria, CEO of Raymond Lifestyle, emphasized the brand’s iconic status in the Indian wedding men’s wear market, stating, “The Raymond brand has an iconic status in the Indian Wedding Men’s-wear market. It will be fair to state that no wedding is complete without a Raymond suit.” He further highlighted the company’s plans to nearly triple its physical presence by adding 300 new Ethnix stores in the next three years, aiming to consolidate its position as the dominant market leader.

RLL is pursuing a focused, three-pronged strategy: strengthening its core in branded textiles, accelerating growth in apparel garmenting, and expanding into new categories such as ethnic wear, innerwear, sleepwear, and international retail. To enhance its distribution presence across India, RLL plans to set up over 650 Exclusive Brand Outlets (EBOs) in the next three years.

Recognized as the 10th strongest brand in India by Brand Finance, and the only fabric and apparel brand on the list, Raymond continues to symbolize trust, quality, and excellence. Guided by the legacy of “The Complete Man,” RLL is poised to carry this heritage forward, defining men’s fashion with timeless elegance.

As India’s largest integrated manufacturer of worsted suiting, Raymond Lifestyle offers a comprehensive range of products, with a portfolio that includes iconic brands like ‘Park Avenue,’ ‘ColorPlus,’ ‘Parx,’ ‘Raymond Made to Measure,’ ‘Raymond Fine Fabrics,’ ‘Raymond Ready to Wear,’ and ‘Ethnix by Raymond.’ The company boasts a vast retail network of over 1,500 stores across 600 cities and towns in India, alongside a strong presence in the B2B garment sector with state-of-the-art manufacturing facilities in Bangalore and Ethiopia.