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India’s leading fashion and textile company Raymond has big plans for big fat Indian weddings.
It is geared up to capture a higher share of the wedding market and to leverage its brand and distribution network.
As per media reports, in last one-and-a-half years, the company has rolled out 45 stores of Ethnix which is its ethnicwear brand and the store count can increase to 80 by the end of FY ’23 and 150 by the end of FY ’24.
Apart from this, Raymond also has an existing network of 1500 stores, some of which will also be selling ethnicwear products.
Amit Agarwal, Group CFO, Raymond said, “We have renewed focus on the wedding segment. We understand this market well since we have been catering to these customers for so many years.”
Wedding season is one of the most important focus areas for majority of Indian retailers and brands.
As per a report, India’s wedding market size for the months of November and December was estimated to be Rs. 3.8 lakh crore, of which branded apparel formed Rs. 50,000 crore.
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