27 September 2022, Mumbai:
Raymond is seeing an uptick in demand by at least 30 per cent for its lifestyle business.
Covid had a huge effect since stores were shut and customers could not visit. But as soon as the stores were opened, they returned, and that was significantly prominent in Raymond’s apparel business. The fall in rupee is helping in exports that are dollar-denominated but the group is also present in European and the UK markets. In those geographies, too, currencies are falling and therefore that offsets the gains. Raymond will try to focus more on dollar-denominated customers to mitigate the currency impact.
Raymond is seeing strong traction in the real estate segment too. The management is in the process of subsidiarizing this business and will be undertaking projects on the JV/JDA route and not buying additional land.
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