Raymond expects wedding season to drive growth, looks to tap rural consumers for sales boost

By

Isabelle Crossley

Published
Dec 13, 2022

Raymond expects strong growth this winter wedding season and plans to open more clothing stores in smaller towns. The garment business plans to tap rural consumers for growth and is witnessing rising spending levels. 

Raymond plans to harness the higher levels of spending it is witnessing to make the winter wedding season one of record growth, Nikkei Asia reported. Over the coming months, the business will open more brick-and-mortar stores in non-metro areas to reach more rural shoppers looking to buy into branded fashion. 

“We have noticed that each customer is now spending higher after Covid by as much as 25% to 30% in our stores when compared to pre-Covid,” Raymond’s chairman and managing director Gautam Hari Singhania told Nikkei Asia. “We are on the cusp of record growth.”

The business is also adding more ethnic and occasion wear to its portfolio to give shoppers a wide range to choose from for their wedding wardrobes. An end to pandemic-led restrictions has enabled people to have large scale weddings again, which will help to boost sales across fashion and jewellery stores. This is a growth opportunity which Raymond is looking to tap into.
 
As well as growth in India, Raymond expects its garment exports to pick up thanks to many European and North American businesses looking to diversify from importing solely from China. Although strict lockdown regulations in the country are easing in many locations, the effects of prolonged lockdowns on production will be felt for some time.