Raymond Lifestyle is set to hire around 9,000 workers as it plans to open 900 new stores over the next three years. The company has recently spun off its lifestyle division to attract more investment and improve capital access. Amid challenges in major apparel production hubs like Bangladesh, Raymond is also boosting its factory workforce to enhance garmenting capacity. The firm is experiencing increased inquiries from global clients, with a focus on expanding into the fast fashion sector, inspired by the success of Tata Group-owned Zudio.
Raymond Lifestyle, the Indian apparel firm, is set to recruit approximately 9,000 workers for hundreds of new stores planned over the next three years, as shared by Group Chairman Gautam Singhania in a recent statement to Reuters. Established in 1925, Raymond has restructured its business, recently spinning off its lifestyle division to simplify its operations, attract more investors, and enable the newly independent entity to access additional capital.
Singhania mentioned that the firm aims to hire an average of ten individuals per store for the 900 outlets it intends to open, although he did not disclose the current workforce size across its nearly 1,500 existing stores. Furthermore, Raymond Lifestyle plans to recruit for roles in its factories to enhance garmenting capacity, particularly as Bangladesh, a key apparel production hub, faces challenges such as political unrest and flooding.
The company, which supplies apparel to chains like JC Penney and Macy's, is experiencing a surge of inquiries from its global clients. Singhania indicated that many brands are shifting their operations to India to fulfil their requirements. Last year, Raymond's garments business, which exports to the US, Europe, and Japan, reported sales of INR 11.39 billion, constituting over ten percent of the group's revenue.
Additionally, Singhania noted that Raymond Lifestyle, known for its men's suits, is exploring opportunities within the rapidly growing fast fashion segment in India. He remarked on the success of Tata Group-owned Zudio in this market. Indian retail firm Trent, which owns Zudio, has been outperforming its competitors as consumers seeking to refresh their wardrobes on a budget are increasingly drawn to its offerings, which include a variety of products priced under INR 999.
In conclusion, Raymond Lifestyle's strategic expansion reflects its commitment to meeting growing consumer demand and adapting to market changes, positioning itself as a key player in India's apparel industry.
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