Raymond Lifestyle Limited to focus on sleepwear and inner wear for growth

October 07, 2024

Category: GARMENTS

Country: India

Region: South Asia

By Isabelle Crossley
4th October, 2024
GTS_NewsFeed
Reading time: 2 min.

Raymond Limited’s demerged lifestyle entity Raymond Lifestyle Limited plans to focus on essential product categories including inner wear and sleepwear for growth over the coming three years and will launch its inner wear offerings in the coming months.

“These are obvious adjacencies; by getting into essentials, we are completing the men’s look now,” said Raymond Lifestyle Limited’s CEO Sunil Kataria, India Retailing reported. “This is less of fashion, more of lifestyle.”

As the Indian sleepwear market remains largely unbranded to this day, Raymond Lifestyle Limited aims to capitalise on the growing demand for branded goods in both metro locations and beyond. The business launched sleepwear brand ‘Sleepz by Raymond’ last month and expects to see it contribute between Rs 500 crore and Rs 700 crore to its overall revenue by the 2027 financial year.

For inner wear, Raymond Lifestyle Limited plans to launch a range of products under its Park Avenue apparel brand, which is positioned in the mass premium segment of the market. “This is getting rolled out in a matter of three to four months from now,” said Kataria. The business is also setting up a separate distribution network made up of small outlets to bolster its operations in the sector.

Raymond Lifestyle Limited was listed last month. The business also plans to continue to expand its ethnic wear offering and aims to capture 7% of India’s wedding wear market through its various labels as it looks to open hundreds of offline stores by the 2027 fiscal year.