As Raymond Group Hits 100-Year Milestone, Chairman Gautam Hari Singhania Recognised With NDTV Centurion Award

The Raymond Group has completed 100 years, marking a century of its legacy. The milestone follows Gautam Hari Singhania, Chairman and Managing Director of Raymond Group, being honoured with the prestigious Centurion Award at NDTV's Indian of the Year event. Reflecting on the journey, Mr Singhania told NDTV, “Raymond is probably the 16th or 17th brand to become 100 years old as a truly Indian brand. COVID was tough for us; we were virtually written off by everybody. But in the last four years, with the support of our friends and family, Raymond has undergone an incredible journey of transformation.”

Established over a century ago, Raymond began as a manufacturer of woollen blankets, supplying the Indian Army. Over the years, it evolved into one of the world's largest producers of worsted fabric and a pioneer in men's formal and ethnic wear. Today, Raymond's portfolio includes brands like Park Avenue, ColorPlus, and Raymond Ready-to-Wear, catering to diverse consumer needs, from wedding attire to bespoke tailoring.

Raymond's recent transformation is rooted in its decision to restructure into three distinct verticals: lifestyle, real estate, and engineering. In a conversation with NDTV, Mr Singhania highlighted the rationale behind the move, “And as a company which had real estate, lifestyle and engineering auto, you're always getting a conglomerate discount.”

The lifestyle business, the company's flagship, continues to thrive, particularly during India's wedding season.

A major moment in Raymond's evolution was the sale of its FMCG division to Godrej Consumer Products Limited (GCPL). This move allowed Raymond to become debt-free two years ahead of its 2025 target. By reinvesting the proceeds, Mr Singhania laid the groundwork for the demerger and set the stage for a new phase of growth.

Speaking to NDTV on the challenges and opportunities for the sector, he remarked, “But just to speak about the textile industry for a little longer, for Indian textiles, we're in an interesting space right now. These are what's happening in the neighbourhood.”

Mr Singhania pointed out the fundamental differences in the industry structures of India and Bangladesh. “Bangladesh has two, three issues. One, it was more the casual wear industry, more than the formal wear industry,” he told NDTV. “So that's already started to move here. We've got inquiries, but we'll take time to develop that because we're not so much in the casual wear space because we outsource everything. But in formal wear, we immediately got orders.”

He further talked about India's advantage of an integrated supply chain, saying, “If you took, say, fabric from me, shipped it to Bangladesh, and then they did the garment, today you're getting an integrated solution in India. So you might pay a little bit more money, but you saved 10, 15 days.”

Gautam Hari Singhania is positive about India's textile sector, attributing its potential to both geopolitical shifts and inherent strengths: “Modi has put us right on top from a perception point of view. On a macro level, I think we're in a good space.”

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