18 January 2023, Mumbai
Ethnix plans to have 80 stores by the end of fiscal year 2023 and 150 by the end of fiscal year 2024.As of now there are 45 stores.
Ethnix, a wedding wear brand run by Raymond, is geared up to capture a higher share of the wedding market and to leverage its brand and distribution network. Apart from this, Raymond also has an existing network of 1500 stores, some of which will also be selling ethnicwear or wedding wear products.India’s leading fashion and textile company Raymond has plans for big fat Indian weddings.
The wedding season is one of the most important focus areas for a majority of Indian retailers and brands. India’s wedding market size for the months of November 2022 and December 2022 was estimated to be Rs 3.8 lakh crores, of which branded apparel formed Rs 50,000 crores.
Augmented urbanization, fashion upgrades and enlarged disposable income are driving the growth of the global bridal wear market. Also technological advances, entry of local players, and augmented luxury weddings are some of the factors that have accelerated the bridal wear market growth. The idea of sumptuous weddings has also contributed to the rising popularity of weddings at destinations.
