Ethnix by Raymond expands as India’s wedding market grows rapidly
23 August 2025, Mumbai
India hosts over 10 million marriages annually, with nearly a third occurring in larger cities. City weddings are no longer just cultural celebrations - they've become a significant business driver, with an average spend of close to Rs 30 lakhs per wedding.
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This growth in consumer spending is being reflected in modern India's evolving fashion choices. A clear shift from traditional formal wear to Indian ethnic wear is underway, with the men’s segment growing impressively by 15–20 per cent Y-o-Y. What makes this market particularly compelling is its profitability.
Unlike other categories, ethnic wear is a low-to-no-discount business. The market leader, Manyavar has reported a profit before tax (PBT) of over 37 per cent a strong margin potential that few other fashion verticals in India can match.
The modern Indian wedding is now a multi-event affair, with ceremonies like the Roka, Mehendi, Haldi, Shaadi, and Reception.
Each event requires distinct ensembles for grooms and their families, which significantly boosts spending on clothing.
Beyond weddings, a growing sense of nationalism is also fueling demand for kurtas and other traditional wear during festivals. At the same time, young people are embracing fusion attire, creating an exciting new casual wear segment within ethnic fashion.
Ethnix by Raymond is strategically capitalizing on this momentum. The brand added 45 stores last year, has seen robust growth in the first quarter, and is on a rapid expansion path.
Vipul Mathur, Chief Business Officer-New Businesses, Raymond Lifestyle, states, the brand is actively seeking experienced franchisee partners who are ready to build a customer-first brand.
Ethnix by Raymond is at the forefront of this high-growth, high-margin category,
With strong consumer demand, high margins, and favorable lifestyle trends, Ethnix by Raymond is well-positioned to redefine men’s ethnic wear retail in India.
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