Raymond Lifestyle to Hire 9,000 Workers as Part of Expansion Plans
Indian apparel company Raymond Lifestyle plans to recruit 9,000 new employees over the next three years as it expands its retail footprint. Group Chairman Gautam Singhania announced that the company aims to open 900 new stores, hiring about 10 people per store. However, the current size of the workforce at the company's 1,500 existing stores was not disclosed.
Business Overview and Recent Developments
Raymond, a well-established firm founded in 1925, has a diverse business portfolio that includes real estate and engineering divisions. Earlier this year, the company spun off its lifestyle division to simplify its group structure, attract more investors, and give the newly independent entity better access to capital.
Increased garment Capacity and Factory Hiring
In addition to retail hiring, Raymond Lifestyle plans to increase its garment production capacity by hiring more workers for its factories. While specific details were not provided, this move comes as political unrest and flooding in Bangladesh, a major apparel hub, have disrupted the global supply chain. Singhania mentioned that international clients, including brands like J.C. Penney and Macy's, are increasingly turning to India to fulfill their apparel needs, boosting demand for Raymond's services.
Business Growth and International Presence
Raymond Lifestyle's garments division, which exports to countries like the United States, Europe, and Japan, reported sales of Rs. 11.39 billion ($135.5 million) last year, contributing over 10% to the group's overall revenue.
Raymond Lifestyle, known primarily for its men's suits, is also exploring India's fast-growing fast fashion market. Singhania acknowledged the success of Zudio, a Tata Group-owned retail brand, which has become popular for offering fashionable clothing at affordable prices. Trent, the company behind Zudio, has outperformed competitors by attracting price-conscious consumers with products under Rs. 999 (around $12).
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Raymond's expansion and focus on fast fashion reflect its strategy to tap into evolving market trends while solidifying its position as a key player in India's retail and garment sectors.
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