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November 07, 2024
- Q2FY25 Raymond Lifestyle Concall Notes*
- - Cautious consumer sentiment and lower discretionary spending during Q2
- - *Branded Textile →* Lower Footfalls, lower consumer demand and Shradh period in the quarter
- - *Branded Apparel →* Expanding distribution reach, new category creation and premiumisation theme; Expecting strong wedding season in 2H
- - Launch SleepZ - Men sleepwear brand; Unorganised market; Not able to size the sleepwear market in India but large addressable market to create national brand in sleepwear market; Added 60 distributors across India and 100 MBOs; Good response on quality and price of products
- - Ethnix → Play on Unbranded to Branded value; Right to Win → Differentiated and Unique Products at Mass price point, Brand Building and Providing Great Customer Experience; Despite expectation of good wedding season in 2H, they’re bit slower on store expansion journey during 1H but target to open 300 stores in the next 2-3 years; Identification of cluster is easy but getting property is bit difficult.
- - TRS is outright sales while EBO is SOR Basis (Sales or Return) so it record secondary sales
- - Difference between Pre and Post Ind AS is 2-2.5%
- - *Garmenting →* Vertical integrated player (From Fabric to Garment); Continuously expanding capacity and became 3rd largest suit manufacturer in the world; Getting good customer inquiry; Faced logistic challenge due to red seas issues and ain’t able to record revenue during the quarter; Good customer enquiry on the back of Bangladesh and China + 1 and FTA (EU+UK) opportunity
- - Wedding season has shifted from 1H to 2H and spread over 5 months; Seeing good customer offtake at retail level in Oct’24 month; Only 3-4 wedding dates in Apr’24 month; Starting from 12th Nov, wedding season will start
- - Diwali to Diwali comparison, there is double digit growth for the business
- BEAT THE STREET BULLETIN
- Date: 06-Nov-2024 (Part 2)
- t.me/beatthestreet10
