Raymond Lifestyle Ltd. (RLL) is set to make its stock market debut on September 5, 2024, as part of a significant expansion strategy. The company plans to open 900 new outlets over the next three years and aims for a 15% compounded annual growth rate (CAGR) to capture approximately 7% of the rapidly growing men’s wedding wear market by 2027.
Following the recent demerger of its retail and lifestyle divisions, Raymond now operates with two distinct listed entities. This move is designed to enhance shareholder value by creating specialised business units with a focused strategy.
With nearly a century of legacy, Raymond is a leading brand in the Indian men’s wedding wear market, which is valued at approximately Rs 75,000 crore. RLL, which is projected to be among the top three global fabric suppliers by the end of this year, reported Rs 2,550 crore in sales from its wedding business in FY’24. This includes revenue from Raymond’s wedding and ceremonial attire as well as its Ethnix line of Indian ethnic wear.
The demerger is aimed at unlocking shareholder value by creating a focused lifestyle business entity. Raymond Lifestyle is refining its strategic focus to position itself among the top three global fabric suppliers by the end of the year. The global market presents significant opportunities, particularly with the challenges in China and Bangladesh and new trade agreements with the UK, EU, and Australia.
In terms of expansion, RLL has already established a distinct market position with its Ethnix brand. The company plans to nearly triple its physical presence by adding 300 new Ethnix stores in the next three years. This expansion is expected to drive significant growth in the wedding segment, further consolidating RLL’s position as a dominant market leader.
