Indian textile and apparel company Raymond Lifestyle has announced that it will not be venturing into the women’s wear business. The decision was made by the company’s Chairman and Managing Director, Gautam Singhania, who stated that the company will continue to focus on its core business of men’s wear.
Singhania made this announcement during an interview with NDTV Profit, where he discussed the company’s future plans and strategy. He emphasized that Raymond Lifestyle is a leader in the men’s wear segment and will concentrate on strengthening its position in this market.
The decision comes at a time when the women’s wear market in India is witnessing significant growth and competition. Despite this, Raymond Lifestyle has opted to stay focused on its existing strengths and not diversify into a new market segment.
Singhania also mentioned that the company is currently undergoing a transformation process, with a focus on improving efficiency and profitability. He highlighted the importance of maintaining a strong balance sheet and delivering consistent results to shareholders.
Raymond Lifestyle is a well-known brand in India, with a long history in the textile and apparel industry. The company has a strong presence in the men’s wear segment, with a wide range of products including suits, shirts, and trousers.
Overall, Raymond Lifestyle’s decision to stay out of the women’s wear business reflects its commitment to focus on its core strengths and maintain its position as a leader in the men’s wear segment. With a renewed focus on efficiency and profitability, the company is poised to continue its growth and success in the market.
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