Raymond Lifestyle Gears Up for Stock Market Debut with Ambitious Growth Plans

Raymond Lifestyle is set to make its debut on the stock markets on September 5, 2024, with a strong focus on growth strategies aimed at doubling its EBITDA to over ₹20 billion by 2028. The company's growth plan involves aggressive store expansion, a significant bet on the wedding business, and diversifying into new product categories.

Speaking to CNBC-TV18, Sunil Kataria, CEO of Raymond Lifestyle, expressed optimism about the company's future. "We are aiming for high double-digit growth in our branded apparel segment," he said. The company plans to open around 500 new stores over the next three years, including outlets for its new ethnic wear brand, Ethnix by Raymond.

Expansion into New Markets

Raymond Lifestyle is positioning itself as a focused lifestyle business entity, aiming to become one of the top three global fabric suppliers by the end of this year. The company is betting on the "Bangladesh+ phenomenon," where it sees potential growth opportunities arising from shifts in global textile sourcing away from China and Bangladesh. "We are receiving increased queries from our customers, and even a small shift of business from Bangladesh could significantly boost our growth," Kataria added.

Wedding Business as a Key Growth Driver

Another major area of expansion for Raymond Lifestyle is the wedding market. The company estimates the Indian wedding market to be worth approximately ₹1,00,000 crore, with men's wedding clothing accounting for around ₹75,000 crore. Raymond plans to increase its share in this segment to 7%. "We are strategically leveraging the upcoming wedding season to strengthen our position as the largest player in this space," Kataria mentioned.

Expanding Product Range

Raymond Lifestyle is also venturing into new adjacent product categories to diversify its portfolio. The company recently entered the sleepwear market and is preparing to launch a new line of innerwear under its popular brands. "Our aim is to be the first branded player in the sleepwear segment, offering top-quality cotton products at affordable prices," Kataria explained.

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With the new product launches and a robust marketing strategy, Raymond Lifestyle expects strong growth in the coming years. The company is confident that its expansion into new segments and the wedding business will drive significant revenue growth.

[Disclaimer: This article is for informational purposes only and does not constitute financial advice.]