Garment biz recovery good, seeing most businesses back up now: Raymond

Raymond has launched a new collection of shirting fabrics under the brand Vibez, with an aim to capitalise on the casual clothing space.

Speaking to CNBC-TV18's Shilpa Ranipeta at the event, the company's CMD Gautam Singhania said that the garment business is seeing a good recovery. He added that most of their business is ahead of pre-pandemic levels already.

“Every year we come out with something different for the youth with the trends in the market, and the traders helped us design this collection in line with what the market wants. So it is really putting it into the market and seeing where the potential is,” Singhania said.

On the garment business, he said, “I think the recovery is good. I think you are seeing most businesses back up now. This, fortunately, no third wave, which people have been talking about, and let us just keep our fingers crossed so I think there is a reasonably good recovery.”

Raymond says demand for clothing impacted as second wave further dampens discretionary spends

On demand in the upcoming festive season, he said the company hopes to touch pre-Covid levels this time.

Speaking on the branded apparel business, Singhania said, “I think everything is recovering. All our businesses are recovering, including branded apparel. So fingers crossed if there is no third way we should be out of this pandemic. In a lot of our businesses, we are seeing pre-Covid levels... we are seeing ahead of pre-pandemic levels. So our business is anything between 90 and 110 percent pre-Covid depending on which business we are in.”