Raymond Lifestyle eyes 7% of men’s wedding wear market by 2027, to open 300 Ethnix stores

Raymond Lifestyle Limited is aiming for a compound annual growth rate of 15% to enable it to capture approximately a 7% share of the men’s wedding wear market by 2027 and plans to open 300 stores for its occasion wear brand Ethnix.

“When it comes to our existing brands, Ethnix has already established its distinct position in the market, and we plan to nearly triple our physical presence with an additional 300 Ethnix stores in the next three years,” said Raymond Lifestyle’s CEO Sunil Kataria, ET Retail reported. “We believe that we can achieve unparalleled growth in this wedding segment, significantly consolidating our position as the dominant market leader.”
 
Ethnix by Raymond specialises in men’s traditional style occasion wear and retails garments including bandgala, kurta, bundi, sherwani, and churidar, according to the label’s Facebook page. Ethnix also carries a selection of indo-western wear and suits and is also available to shop online on the My Raymond e-commerce store as well as on a selection of multi-brand online platforms.
 
Raymond Lifestyle listed its shares on the bourses on September 5. The business was created as part of Raymond Limited’s demerging of its retail and lifestyle business, carried out in order to unlock shareholder value, Indian Retailer Bureau reported.