Raymond Lifestyle plans to significantly expand its footprint, aiming to open over 500 new stores across various brands and formats in the next three years. The company targets a 15% growth in sales and a 20% increase in EBITDA over the same period.
Gautam Hari Singhania, Chairman and Managing Director of Raymond Limited, revealed that the expansion will focus on brands like Ethnix and new categories such as innerwear and sleepwear. Ethnix, which has already seen its store count rise to 114, will see an additional 100+ stores opening in fiscal 2025.
Raymond is also boosting its garmenting capacity, which will position it as the third-largest suit maker globally. Singhania views the Bangladesh crisis as an opportunity for Indian players and emphasizes the growing potential of the Indian market.
The lifestyle segment will see continued growth in fabric, ethnic wear, and premium apparel. The company plans to list its lifestyle business by early September 2024 following its demerger.
