02 August 2022, Mumbai:
Raymond is eyeing a bumper sales season ahead as people want to go back to dressing up, says Gautam Singhania, Managing Director. The brand’s same store growth more than doubled compared to the pre-pandemic levels. The company expects textile business to grow in double digits, as per an IDBI Capital report. The luxury apparel maker, which exports almost 90 per cent of its products, is also witnessing resurgence in demand from Europe.
The brand’s sales in India market have surged, thanks to the many pending weddings that took place in the summer wedding season. It also expects a good festive and winter wedding season. Raymond will make available its Ethnix brand at select Raymond Shops, multi-brand outlets and large format stores like Shoppers Stop and Central.
The 98-year-old company is banking on its brand name in the men’s category and groom lounge, to be able to push forward its ethnic wear business too. In the long term, it hopes the Ethnix brand will contribute 15-20 per cent of the total sales of a store.
