New Delhi: Raymond Lifestyle Ltd is set to be listed on stock exchanges on September 5 and plans to open 900 additional stores within the next three years. After separating its retail and lifestyle divisions, Raymond will have two publicly traded companies. The company announced on Tuesday that it will be listed on the stock exchange on September 5.
Raymond Lifestyle aims to achieve a 15 percent compound annual growth rate (CAGR), reaching approximately 7 percent market share in the rapidly expanding men's-wear wedding market by 2027, according to the statement.
The goal of the demerger is to increase shareholder value by establishing a specialized lifestyle business entity. Raymond Lifestyle plans to enhance its strategic direction in this rapidly expanding industry and position itself as one of the top three fabric suppliers worldwide by the end of the current year.
Raymond Group Chairman and Managing Director Gautam Singhania highlighted significant opportunities in the global landscape, particularly addressing challenges in China and Bangladesh, as well as trade deals involving the UK, EU, and Australia.
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