Raymond aims to increase share of the wedding market, expand Ethnix
Raymond is looking to the wedding wear category to drive growth and plans to increase its share of the Indian wedding wear market in 2023. The garment business aims to achieve this through continuing to expand its brands such as Ethnix, which it is opening stores for across India.
“We have renewed focus on the wedding segment,” said Raymond’s group CFO Amit Agarwal, ET Bureau reported. “We understand this market well since we have been catering to these customers for so many years.”
As brands launch their collections for the upcoming spring wedding season, Raymond aims to capture a larger market share in 2023 by leveraging its distribution network and opening new stores. Over the past year and a half, Raymond has opened 45 stores for Ethnix and plans to bring the label’s brick-and-mortar total to 80 by the end of the 2023 financial year then to 150 by the end of the 2024 financial year.
Raymond opened its most recent Ethnix store in Pune on January 7, the brand announced on Facebook. The store is located at Avaanti Residences and launched with its latest wedding wear collection.
An end to pandemic-led restrictions on social gatherings and a moderation in gold prices heralded a return to traditional, large scale weddings for many Indians. Keen to take advantage of this, Raymond also recently opened Ethnix stores in Vizianagaram and Ahmedabad.
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