Raymond eyes ethnic wear to drive brand growth
Renowned menswear brand Raymond is strategically pivoting towards the ethnic wear apparel segment to drive growth, aiming to capitalize on emerging market opportunities across India. Over the next 12 to 18 months, the brand intends to inaugurate 125 new brick-and-mortar stores, signaling its commitment to tapping into the burgeoning demand for branded ethnic wear, particularly in anticipation of the upcoming wedding season.
Sunil Kataria, CEO, Raymond Lifestyle, says, there is an escalating demand for branded ethnic wear in the market and Raymonds plans to leverage this momentum to bolster sales through the expansion of its retail footprint.
Despite the initial setback faced by physical retail stores in the aftermath of the pandemic, Raymond is confident in the resurgence of offline retail. Concurrently, e-commerce, which witnessed a surge in demand during the pandemic, has stabilised at levels surpassing pre-COVID-19 figures. In response, Raymond is adopting an omni-channel approach to optimise sales and enhance customer reach.
