Store additions will be done selectively this year

The ₹11,000-crore diversified Raymond Group, best known for its textile brand of the same name, is betting on defence and aerospace sectors as its next growth driver, coming at a time when geopolitical issues are on the boil across the world.

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In an exclusive interview with Viveat Susan Pinto & Raghavendra Kamath, Gautam Singhania, chairman & MD of the group, also highlighted the challenges faced by the lifestyle business, which contributes close to 60% to overall topline, and the growing prospects of the real estate business, which is expected to be listed in 45 days.

Excerpts:

Your lifestyle business had a weak Q4 and FY25 as a whole. Do you see the retail environment getting better in FY26? And what is the plan to improve lifestyle business performance?

Our performance in FY25 was under pressure, primarily due to weak consumer demand and challenging macroeconomic conditions. There has been some softness in the north, but we see retail demand improving on the back of the fiscal stimulus measures that have kicked in from April. We are also consolidating our retail operations and expansion this year (FY26), after opening 170 new stores in FY25. We have close to 1,700 stores in total under the lifestyle business. Store additions will be done selectively this year.

Your defence and aerospace vertical was separated into an unlisted subsidiary of Raymond last year when you consolidated your engineering businesses into one unit, following the acquisition of Maini Precision Products? What are your plans for defence and aerospace?