Ethnix by Raymond has been a lightweight champion in the ethnic fashion industry for some time now, with its innovative designs and dynamic branding. In a world where heritage and fashion are often at odds with each other, Ethnix by Raymond has been able to blend the two and offer customers a unique, trendy and original experience. To learn more about Ethnix by Raymond, we interviewed the company's Chief Business Officer, Bidyut Bhanjdeo. During the conversation, Bidyut shared interesting insights into the company's vision and strategies.

Brand & its Personality

Ethnix by Raymond is becoming an iconic brand for consumers with its quality and craftsmanship. What have been the key learnings and challenges in this journey? 

Ethnix by Raymond has made sure that the brand remains relevant in terms of designs and styles to consumers. The consumer wants to look unique for its special occasion and hence, it becomes a challenge to create something different every time. Therefore, it’s critical to keep adding new elements to our design library on a regular basis and keep churning out collections on a regular frequency. The key challenge has also been retail expansion to create accessibility for the consumer.

Would you call Ethnix an aspirational brand for its consumer? How have your customers evolved over the years?

Wherever the brand Raymond appears, it becomes aspirational because the brand exists for close to a century and has been identified with premium products, trust and quality. The consumer today wants more muted colors, more pastel shades and tonal designs. They don’t mind paying a premium for the uniqueness of design that will make them stand apart in a crowd. The consumer today also scans around both physically and digitally before making a purchase decision, so it's very important to be present in all mediums.

Innovation is the key driver. What have been your investments for future business?

Investments have been made in accessibility, designs, buying and merchandising fields. Investments in technology allow Ethnix to run the omni-channel model and create an endless aisle for the consumer. The consumer has visibility of all design options, whether it's lying in any store or Ethnix's warehouse, and has the option of buying it instantly. For buying and merchandising, visual tools are used to decide top sellers and laggards, which help to take a decision on future designs and collections.

Circular Fashion and Sustainability are the prime issues for a responsible brand in the market. What are your brand initiatives on this front with some latest examples? Circular Fashion and Sustainability are prime issues for a responsible brand in the market. Circular fashion, unfortunately, does not work in this category as Indians would normally wear something new for any celebration, especially if it's a marriage. However, Ethnix makes sure to sustain local communities of weavers and dyers by sourcing from small clusters across the country like Banaras, Rajasthan, Madhya Pradesh, etc. It helps to keep the local art from dying and also helps in sustaining the community.

Tell us about the current standing of the men’s ethnic wear market in India. Could you tell us about its market size? And your share?

The current size of the Indian ethnic menswear market is around 11K Crore, and the organized share of that is 30 percent. Ethnix's share is small in single digits as they have just embarked on the journey, and the vision is to get to double digits in the next fiscal year.

Does the demand for men’s ethnic wear spike only during the festive and wedding season from October to December? If yes, what percentage of your annual sales comes from this period for your brand?  

There is a spike during the festive months of October to December, but it continues well into April, depending on the available marriage dates in that year. 60-70 percent of the business comes from the festive and marriage period, and the July to September quarter is the leanest period for this category.

Product & its strength

Tell us about the key product categories and the bestsellers? What are your average price points?

Ethnix is present in three categories - groom's wear. 

Marriage- Sherwani, Indo-western, kurta Bundi sets, accessories like safa, mojri, kalangi, etc. Festive- Kurta sets, bundis, etc. Casual wear- Short kurtas, bundis, linen trousers, knitted kurtas, etc. Just to give you an example, our price points for kurtas ranges from 1599 to 10999.

Ethnix is present in men’s segment and accessories. What are your expansion plans within this category itself? Do you plan to add more products, share your detailed plan?

Ethnix is currently present in three categories: groom’s wear (the full ensemble along with accessories), festive wear (mainly kurtas and bundis), and casual wear (short kurtas, linen trousers, etc.). Our plan is to grow these three categories and keep a keen focus on the casual ethnic wear segment, which is unique to Ethnix as most other ethnic menswear brands do not have this category. We are also expanding into designer suits for the groom, as Raymond is known for its suiting.

Women’s ethnic wear is a growing segment. Do you have plans to expand your brand portfolio in this segment too? If yes, share the products planned and launch dates?

Currently, our focus is only on the menswear segment. We believe that there is still a lot of potential in this segment, and we want to capitalize on this opportunity first before we venture into other segments.

Do you offer bespoke services as well? What do you think is the scope of bespoke services in men’s ethnic wear?

Yes, we do offer bespoke services in high-end sherwanis, and it gets delivered within 15-21 days of ordering. However, it’s a very niche category as most consumers want to try the garment to check out how it suits them. There is good scope for this, as it delivers good value to us, and we are exploring ways to further expand this.

What’s new with the brand collection for the upcoming season?

We have introduced two new categories for the upcoming season. The ‘Heritage collection’; which is a collection of high-end pure silk kurtas and achkans. Pure silk bundis, heavy hand-embroidered garments which bring to life the art of karigari. Another new introduction is the silk veshti with a matching silk shirt for our consumers down south.

Retail Mapping

Tell us about your key markets? Mention their names and define their retail spread?

Our markets are spread across north, west, and east India. In the south, except for Kerala, other states are strong. Kerala is not a very strong ethnic menswear market. All of the northern states are very strong markets for us, and we are spread across all key cities. The same is the case with the west, and in the east, our presence is being built in key cities only. In the northeast, we are present only in Guwahati as of now and plan to remain the same for some time before scaling up. For south India, we have a good presence in all states except Kerala, where we have a presence only in Cochin.

How important are regional markets for your brand? Do you plan something differently in accordance with its taste?

Regional tastes influence our designs and choice of colours. The team buys according to that taste. As mentioned above, we are trying for the first time with veshti and shirt combo for south.

How many retail points do you have currently with its share of business?

How well have you scored online? How has this changed the business for you?

E-commerce space currently works on heavy discounts. We do not have very high presence in the e-com space as this category does not offer any discount.

What are your future retail expansion plans?

We plan to open plus 100 exclusive brand outlets (EBO) by next year. We are aggressively expanding into multi brand outlets (MBO).Large format stores (LFS) chains have also shown keen interest to introduce this brand in their stores.

What’s your current turnover and the growth you are expecting in the next 2-3 years?

We are trending at 100 Crore currently and plan is to touch 350 – 400 Crore in the coming times.

In conclusion, Ethnix by Raymond has made remarkable strides in the world of men’s ethnic wear. With a focus on innovation, sustainability, and customer-centricity, the brand has consistently pushed the boundaries and set new standards in the industry. The brand has overcome challenges in retail expansion, product design, and market share, making it an aspirational brand for consumers. Ethnix’s investment in technology has enabled it to run an omni-channel model and create an endless aisle for the consumer. The brand has a strong foothold in North, West, and East India, as well as key markets in South India.
Looking forward, Ethnix is planning to expand its retail points, grow its menswear and accessories categories, and explore the scope of bespoke services. The brand has introduced two new categories for the upcoming season, the ‘Heritage Collection,’ and the silk veshti with a matching silk shirt. Despite the challenges that the industry faces, Ethnix is expecting to grow its turnover from 100 Crore to 350-400 Crore in the next 2-3 years. All in all, Raymond Ethnix is a brand that promises to deliver unique designs, quality products, and remarkable craftsmanship to make its consumers stand out on any occasion.