Gautam Singhania, Chairman, Raymond knows how to identify a real gem. His move of hiring, the then 44-year old Sanjay Behl as the Chief Executive Officer of Raymond in 2013, proved to be masterstroke that helped turn Raymond into a more professionally-run organisation.
Behl deals with textiles, apparel, garments, retail and FMCG segments in the company. His management team is board-managed instead of being promoter managed which allows his team members to present their ideas before a wider audience and get a better feedback.
Expanding export markets for more profits
In the last two years, Raymond has opened new offices in New York and London. The brand now plans to focus on exports to three markets including North America, Europe and Japan. These exports currently contribute to only 15 per cent of the company’s revenue. They are however, likely to grow faster in the future.
The rise in these exports will play a key role in generating profits for Raymond, especially as the FMCG industry is currently witnessing a slowdown. However, the company core businesses are likely to register a dip in their EBITDA margins and slow growth in the future. This is compelling Singhania to keep a close watch on its non-core business as they promise stronger growth.
Hiring smart people to deal with slowdown
To deal with a slowdown, Singhania aims to hire smart people which would enable him to spend more time incubating the realty business and now wants to hand it over to professionals and move onto the “next thing”. He also wants to work in education. The motor sports enthusiast was recently elected to the World Motor Sports Council of the FIA. For now, Singhania’s track involves securing legacy plays, while learning the new games in town.