Bidyut Bhanjdeo decodes Ethnix By Raymond’s gameplan for ethnic wear market

Women’s ethnic wear has always been a huge market in India. Now, men’s ethnic wear is becoming a big opportunity for apparel brands. In FY2023, the men’s clothing market was valued at over Rs 2.2 lakh crore, as per industry reports, after facing a diminishing growth rate in FY2020-22. The menswear market in India is estimated to grow at a CAGR of 7.7% in the 2024-2032 period, with ethnic wear constituting around 6% of the overall men’s apparel market. The men’s ethnic wear market rose to a staggering $18.68 billion in 2023 as per Technavio.

Some of the key factors driving this growth rate are swift urbanization, transitioning fashion trends, style penchants, speedy diversification in the e-commerce industry, an augmenting middle class, consumer cohorts, the burgeoning wedding season and the rising disposable incomes. This is supported by the increasing importance placed on celebrating cultural events in India and the growing demand for ethnic wear in Tier 2 and Tier 3 cities.  

Moreover, the increase in digital merchandising channels and e-commerce platforms backed by enhanced fashion awareness and style cognizance among Indian men due to the increase in celebrity endorsements and social media is also contributing to the growth.

Raymond launched its Ethnix ethnic wear brand for men in FY2019, offering a diversified portfolio of kurtas, sherwanis, Indo-Western attire, and short kurtas. Ethnix by Raymond is currently present across 67 cities in India, including Kolkata, Delhi, Mumbai, Pune and others. It opened its 100th store in Mumbai in 2023, celebrating the fusion of tradition, and cultural heritage with modernity and elegance.

In conversation with Adgully, Bidyut Bhanjdeo, Chief Business Officer, Ethnix By Raymond, shares intriguing insights on the growth of ethnic wear segment for men, the design ethos of Raymond, how Ethnix By Raymond has come to epitomize understated elegance and sophistication, introducing unique designs and silhouettes, and more.

“Raymond is blending modernity with traditions catering to the changing fashion choices and the wide-ranging cultural landscape of India as well as its heritage,” said Bhanjdeo, adding, “The brand uses a lot of fabrics which are sourced from the hubs where the traditional art of printing and dyeing is used. We launch a new category in the casual segment, called ‘Smart Ethnix’, which includes printed short kurtas and mid-length kurtas that blend tradition with modernity.”

Shift in consumer preferences toward ethnic wear

Commenting on the current consumer trends, Bhanjdeo said, “The trend is to wear Indian ethnic wear for occasions and celebrations as people take pride in their traditions and it is equally endorsed by celebrities and influencers. Ethnix By Raymond is positioned in this space and all designs and silhouettes cater to this trend.”

On the evolution in the buying behaviour in the ethnic wear market in India, he observed, “Today, there is a greater preference for pastel shades and tonal embellishments among men, with a significant preference for high-end grand designs. Ethnic wear is being preferred not only for marriage functions, but also for people attending other occasions such as Eid, Diwali, Raksha Bandhan, etc.”

Leveraging AI, social media marketing, and influencer marketing

On how Ethnix is leveraging AI, social media marketing, and influencer marketing, Bhanjdeo said, “The brand is deploying an AI-based tool for deciding on buying and merchandising decisions, wherein top sellers get identified, replenishment decisions get taken based on the tool. Every region in this country has differentiated preferences and Ethnix depends on local activations on social media and influencers to message to the target consumer. Ethnix by Raymond wants to be known as a fashion-first brand in the men’s ethnic wear segment.”

Marketing strategy

Shedding more light on the marketing strategy, Bhanjdeo said, “The brand looks at a 360-degree approach for messaging to its TG, there is a TV campaign supplemented by digital, which drove overall awareness for the brand. Alongside, social media marketing, cinema, OOH, and print were used to drive awareness for the brand as well as stores, locally. A lot of local store marketing is done through local activations and influencer marketing activities.”

Growth projections for 2024

Revealing about how the year 2023 was for Ethnix as well as the growth projections, expansion plans, and key focus areas in 2024, Bhanjdeo said, “In the year 2023, the brand crossed the goal of having 100 stores. Going forward, the expansion will continue primarily in Tier 1 and 2 markets and selective Tier 3 markets. The key focus this year would be to keep up the expansion of store footprint, and expanding into other multi-brand environments like the MBO and LFS channels.”

Delving into the seasons when Ethnix by Raymond observes major traction and the medium in which it is investing more, Bhanjdeo said, “The season starts with Raksha Bandhan, then the festival of Dussehra, Diwali and finally the marriage season comes ringing. The digital and local store marketing activities continue throughout the year, while the festive campaign starts around September. The brand will be investing in both digital and traditional media.”