By Praveen Paramasivam
(Reuters) – Indian apparel firm Raymond Lifestyle will hire about 9,000 workers for hundreds of stores it plans to add in the next three years, Group Chairman Gautam Singhania told Reuters.
Founded in 1925, Raymond’s business, which also includes its real estate and engineering units, spun off its lifestyle division earlier this year to simplify its group structure, attract more investors and help the carved-out entity access more capital.
The apparel firm is looking to hire 10 people per store, on average, at the 900 outlets it plans to open, Singhania said on Monday, without disclosing the size of its current workforce at its nearly 1,500 stores.
Additionally, Raymond Lifestyle will also hire for roles in its factories as it aims to increase its garmenting capacity, he said without elaborating, as Bangladesh – a major apparel production hub – grapples with political unrest and floods.
The firm, which counts apparel chains such as J.C. Penney and Macy’s among its customers, is receiving a large number of inquiries from its global clients as brands “have decided to move to India to meet their requirements,” Singhania said.
Its garments business, which exports to the United States, Europe and Japan, reported sales of 11.39 billion rupees ($135.5 million) last year, accounting for over a tenth of the group’s revenue.
Separately, Singhania said Raymond Lifestyle, popular for its men’s suits, is exploring the burgeoning fast fashion space in India, noting that Tata Group-owned Zudio “has done very well” in this category.
Indian retail firm Trent, which owns Zudio, has been outperforming its peers as consumers looking to refresh their wardrobes on a tight budget flock to its stores to snap up everything from dresses to perfumes at less than 999 rupees (about $12).
($1 = 84.0700 Indian rupees)
(Reporting by Praveen Paramasivam; Editing by Sonia Cheema)
