Vipul Mathur, a seasoned leader in India’s retail and fashion industry, currently serves as the Chief Business Officer for New Businesses at Raymond Lifestyle Ltd., a role he assumed in October 2024. His appointment marks a strategic milestone for the century-old brand as it expands into high-growth consumer segments and modern retail formats. Reporting directly to Managing Director Sunil Kataria, Mathur is tasked with driving growth across emerging verticals, elevating customer experiences, and shaping future-ready business models.
An MBA in Marketing from Goa Institute of Management and a B.Tech in Textiles from The Technological Institute of Textile and Sciences, Bhiwani, Mathur blends technical expertise with sharp business acumen. His strengths lie in brand building, category development, consumer psychology, merchandising, and omnichannel strategies.
Known for his ability to launch businesses from scratch and scale operations, he has a proven track record in transforming legacy brands. At Raymond Lifestyle, Mathur has redefined Ethnix by Raymond, making it relevant to modern consumers while retaining cultural authenticity, and driven innovation in Raymond Home, expanding its product lines and retail formats.
His earlier leadership roles include Chief Business Officer at Nykaa Fashion, where he built fashion brands in collaboration with Indian and global suppliers, and Udaan.com, where he transitioned B2B brands into successful B2C retail footprints in Tier 2 & 3 cities. He also served as Brand Director at Aditya Birla Fashion & Retail, CEO of Mufti, and a key leader at ABOF.com, driving omnichannel youth fashion campaigns. Starting his career with Arvind Mills as Head of Sales (South India), Mathur built a foundation in sales leadership and operational excellence.
With over two decades of experience, Vipul Mathur continues to bridge tradition and innovation, positioning Raymond Lifestyle for the next era of growth in India’s dynamic retail landscape.
Rapid Fire with Vipul Mathur
What aspects of Ethnix by Raymond and its potential in the Indian ethnicwear market excite you the most as you take charge of the brand?
Ethnix specialises in one of the most significant celebrations within the Indian wedding sector, providing a comprehensive range of products for all events and rituals associated with weddings and festivals throughout the diverse fabric of Indian culture. The Indian men’s ethnic wear market presents substantial growth opportunities, primarily due to its dominance by unorganised and regional players. Consequently, organised brands are concentrating on expanding their market presence, enhancing product and design quality, and implementing competitive pricing strategies to capture greater market share and gain customer mindshare. The evolving consumer preference for religious ceremonies and weddings is driving the demand for high-quality, occasion-specific attire. Additionally, men are increasingly exploring ethnic styles for casual outings and office environments, effectively blending traditional elements with contemporary flair.
How do you define Ethnix’s positioning within the broader ethnicwear market, especially in comparison to regional players and national competitors?
Ethnix positioning in the ethnic wear market is more inline with parent organisations aspirations to become a one stop destination for all groom and family members shopping for wedding and festive occasions. Comprehensive product range and availability of products for all age groups helps in resonating with the brand positioning and customer recall.
What synergies or challenges do you foresee while expanding a relatively new ethnicwear vertical under this umbrella?
Having a strong parental brand recall from Raymond helped in the initial brand journey/ brand awareness & customer trust. Synergies helped in establishing faster retail identity for the brand & expansion to 85+ cities in India.
What’s the product strategy for Ethnix? Are you planning to focus more on occasion wear, wedding collections, or daily ethnic staples for men?
Ethnix is dedicated to the wedding and occasion wear segment, offering an array of innovative designs and products in sherwani’s, indo-western, suits, bandhgala, and kurta bundi sets. Additionally, we have introduced short kurtas and smart bundi’s to our daily wear collection, which are designed to complement casual wear and professional environments. This strategic expansion aims to attract new customers while enhancing our product offerings in the market.
Is customisation or made-to-measure ethnicwear something Ethnix is exploring to differentiate itself?
Differentiation is mainly achieved by product innovations and design elements, and currently we are not exploring Made-to-Measure (MTM) and customisation in Ethnix.
Please share upcoming plans regarding store expansion—EBOs, SIS, or presence in multi-brand outlets and tier-II/III markets?
New exclusive brand outlets (EBO) store expansions are majorly concentrated in Tier 1 markets, multi-brand outlets (MBO) channel expansion is planned to more Tier 2 & 3 markets in this year.
Strategic Leadership & Domain Expertise
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