Since covid and high inflation have affected the lower segment of the country more than the higher segment, progress in India has slowed since the pandemic, according to Gautam Hari Singhania, chairman and managing director of Raymond Ltd. However, someone switching from a bicycle to a motorcycle is still a significant indicator of progress. In an interview, Singhania said the recovery would be delayed by a few quarters, but will eventually materialise as inflation is slowing. The philosophy of life is what covid students learn the most. When it comes to the issue of survival, you then approach life very differently. You also take a distinct approach to every single aspect. In order to survive, you had to confront every cost. So, I I believe you learn a tonne. The most important lesson for businesses is how to conduct themselves differently. The business must continue.
Has the retail industry rebounded since the covid lows?
I believe that we are witnessing vengeance buying and a lot of unmet demand that is being satisfied. Therefore, I think we clearly see higher than pre-covid levels. It’s nice to see customers returning to the stores. They want the experience that comes with shopping because it’s not simply about making purchases. We have had a significant recovery, particularly in our physical retail outlets. Groz-Becket Will Be Presenting Latest Innovations From Product Area Carding Increased sales were the result of our consumer businesses’ robust growth and the joyous sentiments and celebrations that swept the nation. The industry of exporting clothing maintains a healthy order book from the US and European markets and makes use of the “China+1” approach. Sales in export markets increased by 39% to a robust level of 282 crore, from 203 crore the year before, driven mostly by strong demand in the US and European markets.
Luxury automakers claim that following the pandemic, sales from smaller towns and cities have increased significantly. Have smaller cities contributed more to your company as well?
In 650 cities, Raymond has essentially been accessible. Thus, we don’t see any differences in our business because, in my opinion, all of the business, every city and location has returned. So, we’ve been in 650 cities, and we continue to expand in those areas. That’s wonderful news for us.
