Brand Raymond looks to cross ₹10k cr in revenue in next 2 yrs
Times of India | 18 September 2024
Kolkata: In the next two years, Raymond as a brand would cross the Rs 10,000-crore figure as far as revenue was concerned, group chairman and MD Gautam Singhania said on Monday.
The revenue of Raymond, from its flagship lifestyle brand and real estate, now stands at Rs 7,000 crore. While lifestyle contributes Rs 5,000 crore, Rs 2,000 crore comes from real estate.
Speaking during an interaction in the city, Singhania said: “The rate at which we are growing, it should cross Rs 10,000 crore in two years.”
The Raymond CMD said Park Avenue, at Rs 500 crore, was the second biggest brand of the group after Raymond.Elaborating on restructuring plans, Singhania said real estate would be demerged from Raymond Ltd by July 2025.
The company has already demerged lifestyle business into a new listed entity. Raymond as a group has a revenue of Rs 11,000 crore, out of which 65% comes from lifestyle, 20% from real estate and the rest from engineering. Incidentally, Raymond Ltd now has two divisions, real estate and engineering.
Lifestyle is a separate entity called Raymond Lifestyle Ltd. Commenting on the real estate business, Singhania said currently it would focus on Mumbai only as it had a huge potential but in future it might look beyond.
Talking about overseas expansion, Singhania said the company had 50 outlets outside India and would add another 50 to make it 100 soon, mainly in GCC countries.