Raymond Lifestyle Gets A 'Buy' From Systematix, Says Recalibration Of Business To Drive Shareholder Value

Systematix Research Report

Raymond Lifestyle Ltd. is set to realize its full potential and generate shareholder value, courtesy a new management and a renewed strategy. The company has bifurcated the business in three strategic parts:

1. Core business - flagship Branded Textiles,

2. Growth businesses - Branded Apparel and Garmenting, and

3. Emerging business - Ethnix by Raymond, Sleepwear and Innerwear.

These are slated to drive growth as follows:

1. Through its legacy ‘Suiting’ and emerging ‘Ethnix’ businesses, where Raymond Lifestyle commands 5% share in the men’s wedding category, management is targeting 15% CAGR to garner 6-7% market share by 2027;

2. In Branded Apparel company plans to add ~650+ stores over the next 3 years to likely generate double-digit growth in the segment. This business will focus on retail expansion, casualization and product development. Each of its power brands – RTW, Park Avenue and ColorPlus are expected to operate ~200-250 exclusive brand outlets each;

3. In Ethnix by Raymond, the company intends to enhance its store count to 350+stores over the next three years from 114 as at Mar 2024.

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