Raymond has plans to add over 100 stores of its ethnic wear brand ‘Ethnix by Raymond’ in fiscal 2024-25, the latest annual report of the company said.
Gautam Singhania led Raymond introduced the Ethnix format a couple of years ago as a brand for occasions and celebrations and now has over 114 stores.
“The company intends to fuel growth with ‘Ethnix By Raymond’ as it taps into the exponentially growing segment of ethnic wear in India,” India Retailing reported quoting the annual report.
“As Indian weddings get glitzier and people celebrating various occasions, we have expanded the Ethnix by Raymond store footprint across the country,” Gautam Singhania said while addressing shareholders.
“Ethnix business is already contributing to the top line of the branded apparel segment of Raymond with its strong performance,” he added.
“Going forward we will open more doors for this category and will be adding 100+ new stores of Ethnix by Raymond in fiscal 2024-25,” Singhania stated.
The shareholder report added that the company is also expanding its ethnic line under the brand and that it had added 53 stores to its network in fiscal 2023-24.
Ethnix by Raymond is a collection of readymade ensemble solutions for festivities and special occasions.
Contemporary and modest designs drive the modern man to experiment with the different traditional and ethnic outfits and browse through various trends to create their unique ethnic style statement.
“At Ethnix by Raymond, men have a spectrum of options to choose from, like sherwanis, kurtas, jackets and more, be it for weddings, religious events or family get-togethers,” the Raymond website said.
“Ranging from exclusive cuts, colours and luxurious fabrics to intricate embroidery, this label is your one-stop shop for all your ethnic needs,” the website informs.
