14 December 2022, Mumbai
Raymond is adding more ethnic and occasion wear to its portfolio. The aim is to give shoppers a wide range to choose from for their wedding wardrobes.
An end to pandemic-led restrictions has enabled people to have large scale weddings again, which will help to boost sales across fashion and jewellery stores. This is a growth opportunity which Raymond is looking to tap into. Expecting strong growth this winter wedding season Raymond plans to open more clothing stores in smaller towns.
The garment business plans to tap rural consumers for growth and is witnessing rising spending levels.Over the coming months, the business will open more brick-and-mortar stores in non-metro areas to reach more rural shoppers looking to buy into branded fashion. Customers are spending 25 per cent to 30 per cent more at Raymond stores compared to pre-Covid spending.
Raymond is one of the country’s leading branded fabric and fashion retailers. As well as growth in India, Raymond expects its garment exports to pick up thanks to many European and North American businesses looking to diversify from importing solely from China. Although strict lockdown regulations in the country are easing in many locations, the effects of prolonged lockdowns on production will be felt for some time.
