Indian apparel company Raymond Lifestyle plans to hire 9,000 new workers for 900 new stores up to 2027, Reuters has reported.
In early 2024, the company spun off its lifestyle business from its real estate and engineering divisions to streamline operations, attract more investment and improve access to capital.
The newly independent entity is now poised to increase its retail footprint significantly.
Raymond Group chairman Gautam Singhania has stated that each new store will employ an average of ten people.
Raymond Lifestyle operates 1,500 stores, but the size of the workforce is not known.
Raymond Lifestyle will also hire employees for its factories to boost garment production capacity as Bangladesh, a major garment production hub, is currently facing political turmoil and environmental hazards.
Raymond’s garments business, which exports products to markets such as the US, Europe and Japan, reported revenues of Rs11.39bn ($135.5m) in 2023.
This figure represents more than one-tenth of the group’s total revenue.
The company is reported to be receiving inquiries from global clients as brands decide to move to India to meet their requirements.
Raymond Lifestyle serves retailers such as JC Penney, Macy’s and others.
The company is exploring opportunities within India’s fast fashion sector, with Tata Group-owned Zudio performing well.
Trent, the retail arm behind Zudio, has seen success with its value-focused offerings to consumers seeking budget-friendly fashion options.
Raymond’s fourth quarter profit after tax has risen 18% due to robust business growth.
“India’s Raymond Lifestyle to create 9,000 jobs across new stores ” was originally created and published by Retail Insight Network, a GlobalData owned brand.
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Publish date : 2024-10-23 03:01:00
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