3 weeks ago
Raymond Lifestyle plans Europe push as trade deals open markets
Raymond Lifestyle is a company that makes clothes.
It sends many of its clothes to America to be sold.
America put taxes on clothes coming from other countries, which made it harder to sell there.
So Raymond wants to find new places to sell its clothes.
India made special deals with the United Kingdom and the European Union to make selling clothes there easier.
Because of these deals, Raymond thinks Europe will become more important.
Right now, about 17 out of every 100 exported clothes go to Europe.
In two years, the company hopes that could be 25 out of 100.
European stores are already asking for more clothes, so Raymond is making more at its factories in Ethiopia and India.
Raymond Lifestyle expects Europe to account for 20-25% of its exports within two years, up from about 17% currently.
The US share of the company's exports is projected to fall to 55-60% from about 65% before President Donald Trump's tariffs.
India's trade pact with Britain took effect in July, and an India-EU free trade agreement is expected to be signed by the end of 2026.
European customer inquiries have grown double digits, with about 30% converting into orders and particularly strong traction in the UK.
The company added customers in Poland, Germany and France and is expanding production at its Ethiopia plant and its Andhra Pradesh facility, which should triple its production lines to 10.
- Who
- Raymond Lifestyle, the Indian apparel maker led by CEO Satyaki Ghosh, which owns brands including Park Avenue and ColorPlus.
- What
- Plans to raise Europe's share of its exports to 20-25% within two years to reduce dependence on the US market.
- Where
- Europe, including new customers in Poland, Germany and France, with production expansion in Ethiopia and Andhra Pradesh, India.
- When
- Following India's trade pact with the UK (effective July) and ahead of a planned India-EU free trade agreement expected by the end of 2026; targets set for the next two years.
- Why
- To diversify away from the US after tariff-related disruptions under President Donald Trump's administration and to benefit from India's new trade agreements.
Key facts
- Company
- Raymond Lifestyle
- Chief Executive Officer
- Satyaki Ghosh
- Europe's current export share
- About 17%
- Europe export target
- 20-25% within two years
- US export share before tariffs
- About 65%
- Projected US export share
- 55-60% over next two years
- India-UK trade pact
- Took effect in July, reducing tariffs on goods and services
- India-EU free trade agreement
- Expected to be signed by the end of 2026
Quotes
Satyaki Ghosh
Chief Executive Officer of Raymond Lifestyle
“"Europe will grow faster for us," Ghosh told Reuters”
firstpost.com
Sources
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