Embarking on an ambitious growth trajectory under the leadership of Debdeep Sinha, Chief Business Officer-Apparel, apparel maker Raymond plans to add 50 to 80 stores per brand annually over the next few years.

Besides, the company also plans to introduce innovative features like auto-checkout and digitised easel stands in all its EBOs. Additionally, it will use LCD screens on the storefront to showcase in-house merchandise and enhance visual merchandising efforts. While the company’s current average store size ranges from 1,400 to 1,500 sq. ft, it aims to open larger stores exceeding 2,000 sq. ft. in major markets to accommodate their growing product offerings.

As Raymond celebrates its centenary year, the company boasts a rich portfolio of legacy brands including Park Avenue, Raymond Apparel, Color Plus, and Parx. Renowned for its formal wear, Park Avenue is positioned as a versatile wardrobe brand offering both formal and casual attire. Color Plus caters to the premium casual wear segment, while Parx occupies the mid-premium casual wear market. Together, these brands cover the spectrum of mid-premium to premium offerings in both formal and casual wear categories.

Raymond Ready to Wear serves as the ready-to-wear counterpart to Raymond's fabric business, showcasing innovative collections such as Air Light—a feather-like collection of suit jackets designed for comfort during long wear. Their formal tech-smart products, like the stainless collection, boast stain-resistant properties, ensuring durability and easy maintenance.

Among their latest offerings are collections like the Fearless Collection and the Techno Smart Collection, featuring four-way stretch fabrics for unprecedented comfort and flexibility. These products blur the lines between formal and casual attire, allowing wearers to seamlessly transition between work and leisure activities without sacrificing style or comfort.

With a focus on innovation, quality, and customer comfort, Raymond is poised to continue its legacy of excellence in the apparel industry as it enters its second century of operation.

Known for its value-conscious consumers, a new trend is taking root in India: premiumisation. As India's middle class expands and aspirations soar, the demand for high-quality, luxurious, and aspirational products and experiences is surging. This change in consumer behavior is reshaping industries, from fashion and apparel to electronics and automobiles, and is driving a new wave of economic growth.

An evolving trend in India
Premiumization is the process of upgrading products or services to a higher level of quality, luxury, or exclusivity. It is driven by consumers' increasing desire for better quality, unique experiences, and products that reflect their personal style and aspirations.

Multiple research studies and reports corroborate this trend. A 2024 study by Wright Research reveals that high-value vehicle sales, priced above Rs 10 lakh, saw a significant increase, outpacing overall vehicle sales growth. Similarly, a report by Equentis highlights growth in demand for premium goods and services, indicating a shift in consumer preferences towards higher-quality products even amidst a global economic slowdown.

A report by Bain & Company reveals, India's luxury market is expected to grow at a CAGR of 10 per cnt over the next five years, reaching $5 billion by 2025. The Boston Consulting Group (BCG) estimates the premium segment in India is growing three times faster than the mass market. Similarly, NielsenIQ's research shows premium products are now driving growth across various sectors, including food and beverages, personal care, and home appliances.

The growth of this trend is due to growing fashion consciousness and desire to express individuality. Social media and celebrity culture too has its impact and increasing preference for sustainable and ethical fashion has given also been a catalyst for growth.

Millennials and Gen Z, the ‘digital-native’ generations are driving the premiumisation trend, seeking unique and personalized experiences. They are willing to pay a premium for products that align with their values and lifestyle choices. Similarly as disposable incomes increase, the middle class is increasingly opting for premium products that offer better quality and durability. They are also drawn to aspirational brands that enhance their social status. What’s more trend is no longer confined to metros as rising affluence and exposure to global trends is pushing up demand for premium products in smaller cities and towns.

Reflections in fashion and apparel sector
The fashion and apparel sector exemplifies premiumisation in India. Consumers are increasingly gravitating towards high-end brands and designer labels, willing to pay a premium for quality, style, and exclusivity. A CRISIL report predicts an 8-10 per cent growth in the apparel retail sector in FY25, egged on by premium and fast-fashion segments.

And premiumisation's influence spans across apparel segments. In menswear, the demand for bespoke tailoring, luxury brands, and high-quality fabrics is on the rise, reflecting a growing desire for refined and sophisticated menswear. Womenswear market on the other hand is witnessing a rise in demand for designer labels, premium ethnic wear, and luxury accessories, signalling a preference for stylish and exclusive fashion. Even in kidswear segment, parents are increasingly opting for premium brands, focusing on quality, comfort, and style for their children.

In fact, premiumisation is more than just a trend; it's a reflection of India's evolving consumer landscape. As aspirations rise and disposable incomes increase, the demand for premium products and experiences will continue to grow. Brands that can tap into this trend by offering high-quality, unique, and aspirational products are poised to thrive in the new India.

Tailored exclusively for the burgeoning youth market in the country, Max Urban, the latest venture by Max Fashion, has launched its inaugural collection.

Titled, ‘Love Labels, the collection redefines the traditional size norms by embracing a more empowering approach. The brand reimagines traditional sizes as affirmations of self-love and body positivity. It celebrates diversity in body shapes and sizes through a captivating campaign film that promises to provide clothes that not only fit perfectly but also uplift and empower customers.

Using a language that not only empowers individuals but also makes them feel confident in their own skin, the 'Love Labels' campaign revolutionises the way sizes are perceived, says Sumit Chandna, President & Deputy CEO, Max Urban.

Drawing inspiration from casual, vacation prints and serene patterns, this inaugural collection by Max Urban offers a refreshing range of styles. The collection is available at over 500 brand stores Max Fashion’s newly launched e-commerce platform. It will also be showcased in over 50 selected stores across major cities in India. With prices starting at just Rs 199, the collection offers international fashion at competitive prices.

Committed to expand the reach of Love Labels, Max Urban plans to increase the number of stores throughout the year.

The Tata Group is negotiating with stakeholders to buy either a stake or the entire business of Fabindia.

The acquisition deal is worth less than the $2.5 billion pegged by the clothing company’s aborted initial public offering. If successful, the deal could be the largest in the segment, after Aditya Birla Fashion Retail’s acquisition of a controlling stake in TCNS Clothing last year.

The acquisition of Fabindia will boost the ethnic wear portfolio of the Tata Group. in the ethnic wear space. Also, Fabindia’s ethos resonates with that of the Tata Group as it makes its products from traditional techniques, and hand-woven fabrics that are sustainably sourced.

In January, Fabindia agreed to sell subsidiary Organic India to Tata Consumer Products at an enterprise value of Rs 1,900 crore. This was part of its restructuring exercise after it abandoned its Rs 4,000-crore IPO last year, citing uncertain market conditions.

A seller of premium ethnic apparel, Fabindia has been making losses over the last three years. Although the brand’s revenues increased by 21 per cent to Rs 1,688 crore in FY23, expenses rose to Rs 1,730 crore, shows data from Tracxn. The brand ended FY23 with negative cash balances, according to the cash flow statement data.

After drawing its IPO plan, Fabindia made some changes in the brand’s management. It promoted William Nanda Bissell, with a 15 per cent stake in the company, to the position of Managing Director from his earlier post of Executive Vice-Chairman and Director. Viney Singh, previous Managing Director became a non-executive director on completing his tenure as the Managing D, became a non-executive director.

Fabindia has over 300 stores and apart from apparel also sells furnishings, furniture and lifestyle accessories. 

Leading textile and fabric manufacturer Raymond plans to expand its ethnic wear brand, 'Ethnix by Raymond,' by adding over 100 new stores. Introduced a couple of years ago, Ethnix by Raymond is a brand designed for occasions and celebrations and now boasts over 114 stores.
The Ethnix brand has already made significant contributions to Raymond's branded apparel segment, showcasing strong performance.
Raymond aims to leverage the rapidly growing ethnic wear market in India to fuel growth for Ethnix by Raymond. Gautam Hari Singhania, Chairman and Managing Director, emphasises, Raymond has expanding by setting up Ethnix by Raymond stores in every corner of the country.
In addition to expanding its physical store presence, Raymond is also broadening its ethnic line under the Ethnix by Raymond brand. In FY24 alone, the brand added 53 new stores to its network. Raymond's branded apparel business, which includes other brands like Raymond Ready to Wear, Park Avenue, ColorPlus, and Parx, achieved sales of Rs 1,587 crore for the financial year ending March 31, 2024.

As a part of its World Earth Day celebrations, India’s leading premium women’s wear brand Latin Quarters has launched its maiden sustainable capsule collection ‘Revive.’

Crafted from recycled materials, the Revive collection includes dresses, tops, trousers, and more. Priced in the range of Rs 1,799 ($20), the collection is available for purchase online and at select Latin Quarters stores.

Rahul Bhalla, CEO and Co-founder, Latin Quarters, says, the collection strengthens the brand’s mission to make conscious choices on behalf of its patrons, whilst supporting the larger efforts to being more environmentally friendly.”

Since the last decade and a half, Latin Quarters has been curating fashion for customers across India, adds Bhalla. The brand continues to evolve with time and inspire customers to make the right choices.

Founded in 2006, Latin Quarters currently has 21 exclusive brand retail outlets and is available on major online portals across the country like Myntra, Nykaa Fashion and Amazon.