Thomas Verghese has stepped into an important advisory role at Raymond Ltd, a leading player in India’s textile and retail market. This change is crucial for the company as it aims to revamp its lifestyle segment.
With over 44 years of experience in the textile industry, Verghese has a wealth of knowledge. He previously worked at the Aditya Birla Group for 26 years, where he held leadership roles in textiles, retail, and marketing. His experience gives him a unique perspective to help guide Raymond as it focuses on modernizing its operations.
Experts see Verghese’s move as timely. The Indian textile and apparel market is currently worth more than $170 billion, and it’s projected to grow by 9 to 10% each year until 2030. This growth is driven by an increase in high-end products, the rise of organized retail, and changing consumer habits.
Verghese’s role is to assist in enhancing integration across all textile and lifestyle divisions within Raymond. He aims to boost efficiency, speed up product launches, and ensure that the brand stays relevant in a competitive market.
Interestingly, there’s a trend where seasoned industry leaders are coming back in advisory roles to navigate the complexities of the evolving retail landscape in India. Their insights are invaluable, especially in a market that continues to expand and shift rapidly.
This shift at Raymond not only represents a strategic move for the company but also highlights the broader industry’s efforts to adapt to contemporary challenges. As consumers become more discerning and demand higher quality and variety, companies must evolve to keep pace.
For further insights on the textile and retail market, check out reports from sources like the Indian Brand Equity Foundation.
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Thomas Verghese,Raymond Lifestyle,Leadership,Advisor ,Aditya Birla Group
