Raymond Lifestyle to add 900 new outlets in 3 years

Raymond Lifestyle Ltd will be listed on the stock exchanges on September 5 and aims to add 900 new outlets in three years.

Following the demerger of its retail and lifestyle businesses, Raymond will have two listed entities.

In a release on Tuesday, the company said it will get listed on the bourses on September 5.

The company plans to add 900 new outlets over three years. The Raymond Group's lifestyle business entity is eyeing a 15 per cent CAGR (Compound Annual Growth Rate) to attain around 7 per cent market share in the fast growing men's-wear wedding market by 2027, the release said.

"The demerger aims at unlocking shareholder value by creating a focussed lifestyle business entity. Raymond Lifestyle will sharpen strategic focus in this fast-growing sector to become among the top three global fabric suppliers by the end of this year.

"The global scenario presents significant opportunities, particularly the challenges in China and Bangladesh and trade agreements with the UK, EU and Australia," Raymond Group Chairman and Managing Director Gautam Singhania said.