by
Reuters
issued
October 22, 2024
Indian apparel company Raymond Lifestyle plans to employ about 9,000 people at hundreds of stores it plans to add over the next three years, group chairman Gautam Singhania told Reuters.
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Founded in 1925, Raymond’s business also includes real estate and engineering divisions, simplifying the group structure, attracting more investors and allowing spun-off companies to access more capital. Earlier this year, the lifestyle division was spun off into a separate company.
Singhania said Monday that it plans to hire an average of 10 people per store in the 900 stores it plans to open, but did not disclose the current workforce size for its roughly 1,500 stores.
Additionally, Raymond Lifestyle also plans to hire in-house workers to expand its sewing capacity as Bangladesh, a major garment manufacturing hub, faces political instability and flooding, he said. He did not elaborate.
The company, whose customers include apparel chains such as J.C. Penney and Macy’s, has received numerous inquiries from customers around the world as each brand has “decided to relocate to India to meet demand.” Singhania said.
The clothing business, which exports to the United States, Europe and Japan, had sales of 11.39 billion rupees ($135.5 million) last year, accounting for more than a tenth of group revenue.
Separately, Singhania newspaper said that Raymond Lifestyle, popular for its men’s suits, is tapping into India’s fast-growing fast fashion sector, and that Zdeo, a subsidiary of Tata Group, is doing a “very good job” in this sector. We are achieving results,” he said.
Indian retail company Torrent, which owns Zudio, outperformed its peers as consumers on a budget flocked to its stores to buy everything from dresses to perfume for under 999 rupees (about $12) to refresh their wardrobes. There is.
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