Raymond Aims To Open More Than 100 Ethnix Stores By FY25

Raymond Limited incorporated in 1925 is a diversified group with interests in the Textile & Apparel sectors as well as a presence across diverse segments such as Real Estate, FMCG, and Engineering in national and international markets in 55+ Countries including the USA, Europe, Japan & Middle East. The Company has a retail network of 1,638 stores, including 1,589 stores in about 600 towns and cities in India and 49 overseas stores in nine countries. It is one of the largest vertically and horizontally integrated manufacturers of worsted suiting fabric in the world.

Raymond plans to add over 100 Ethinix stores

Raymond, a leading textile and fabric manufacturer, plans to expand its ethnic wear brand ‘Ethnix by Raymond’ by adding over 100 new stores, according to its latest annual report. Launched a few years ago, ‘Ethnix by Raymond’ focuses on occasion and celebration wear and has already established over 114 stores across India. The company aims to capitalize on the rapidly growing demand for ethnic wear in the country. By increasing the number of ‘Ethnix by Raymond’ stores, Raymond seeks to fuel its growth and strengthen its presence in this flourishing market segment, tapping into the cultural affinity for traditional attire.

Chairman and MD on expansion 

Chairman and Managing Director Gautam Hari Singhania addressed shareholders, stating, “With Indian weddings becoming more lavish and people increasingly celebrating various occasions, we have expanded our store footprint significantly. We have taken ‘Ethnix by Raymond’ to every corner of the country.” This expansion aligns with Raymond’s strategy to capitalize on the growing demand for ethnic wear, enhancing it’s market presence nationwide.

Conclusion:  Raymond’s strategic expansion of its ‘Ethnix by Raymond’ brand aims to tap into the burgeoning market for ethnic wear driven by the increasing grandeur of Indian weddings and celebrations. By broadening its store footprint across the country, Raymond seeks to strengthen its market position, cater to a wider audience, and fuel growth in this vibrant and rapidly growing segment. The stock of Raymond is trading up by 7% from its previous day’s closing price at Rs.2975.60 a piece.

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