Raymond Lifestyle to add 900 stores in 3 years, says Gautam Singhania

Ahead of getting listed on the bourses on Sept 5, Raymond Lifestyle Chairman says the company is planning to add 900 new stores in the next three years. In an interview to ET, Gautam Singhania, Chairman, Raymond Lifestyle says the company will target 12-15% annual sales growth and 18-20% operating growth profit. Shares of Raymond Lifestyle, the demerged unit of Raymond, are set to list on the bourses on September 5.

Singhania told that internal challenges in China and Bangladesh, coupled with trade agreements with the UK, European Union, and Australia, present significant opportunities for the company.

"The demerger aims to unlock shareholder value by creating a focused lifestyle business entity, allowing investors to concentrate on this specific theme. The standalone entity will sharpen strategic focus on the life on the lifestyle segment, driven by a professional management team," Singhania said in the interview.