Milena Traikovich is a powerhouse in the world of demand generation, renowned for her ability to dissect complex performance metrics and transform them into high-converting consumer journeys. As a strategic advisor, she has mastered the art of balancing aggressive growth with operational efficiency, helping legacy brands pivot toward modern, data-driven excellence. In this discussion, we explore her analysis of a massive strategic overhaul at a century-old industry leader, focusing on how a blend of premiumization, digital integration, and lean manufacturing is setting the stage for the next hundred years of business.
Our conversation delves into the meticulous scrutiny of media spending and factory operations aimed at preserving margins without alienating price-sensitive consumers. We explore the emotional and strategic weight of circular fashion initiatives, the transition from formal to casual aesthetics, and the transformative power of a loyalty engine that boasts over twelve million members. Finally, we examine how the shift toward bespoke, made-to-measure services is redefining the luxury wedding market and how manufacturing for global giants provides a unique competitive edge in the domestic landscape.
You are currently spearheading a transformation project with a major consultancy to scrutinize every aspect of the business, from media buying to factory productivity. How do you identify specific efficiencies in these areas without compromising the quality or the consumer experience?
The current transformation project, which we are executing alongside Kearney India, is a comprehensive three-to-five-year strategic plan designed to challenge every existing cost area within our system. We are not just trimming the fat; we are looking for systemic monies that can be reclaimed through smarter product sourcing, optimized manpower, and heightened factory productivities. By scrutinizing these operational pillars, we can unlock significant efficiencies that allow us to protect our profitability while ensuring we do not have to pass higher costs on to our customers. It is a delicate balance of maintaining the brand’s integrity while becoming leaner, and it requires a mindset where every dollar spent—whether in the factory or on a media placement—must prove its value to the bottom line. This holistic approach ensures that our transformation is not a temporary fix but a permanent shift in how we manage our internal economics to fuel future growth.
Marketing strategies are becoming increasingly complex, yet you’ve opted for a “holistic marketing” approach. How are you refining your media selection and brand positioning to drive retail footfalls more effectively?
Our approach to marketing in 2026 is built on the principle of “prudent media selection,” which means we are moving away from broad, wasteful spending and toward sharper, more differentiated omnichannel campaigns. Instead of signaling a retreat from the market, we are making our messaging more focused, ensuring that every campaign directly contributes to building brand equity and driving physical retail traffic. We are looking for those unique touchpoints where our heritage in tailoring meets the modern consumer’s desire for casual yet premium aesthetics. By leveraging targeted media buying, we can reach specific consumer segments with more precision, ensuring that our advertising spend is an investment in measurable growth rather than just a cost of doing business. It’s about being more selective and ensuring that the money we continue to invest behind our brands works significantly harder.
The 2026 Garment Exchange Program, centered on the theme of “Refresh Your Style with Perfect Tailoring,” seems to be a significant push for consumer engagement. What was the strategic intent behind this initiative beyond just driving sales?
The Garment Exchange Program is a cornerstone of our engagement strategy because it connects our deep tailoring heritage with the modern demand for a circular fashion ecosystem. By offering value-added tailoring services in exchange for pre-owned garments, we are doing more than just increasing retail footfall; we are fostering a sense of community and responsibility among our consumers. This initiative allows us to strengthen the brand’s connection with individuals by participating in the lifecycle of their wardrobe, encouraging them to see us as a partner in their personal style journey rather than just a retail destination. It is a powerful way to drive brand awareness while promoting the reuse of garments, which resonates deeply with today’s more conscious consumer. This tactile, service-oriented approach reminds the customer of the quality and precision that only an expert tailor can provide, making the brand indispensable to their lifestyle.
With a loyalty base that has reached 12.4 million members, you’ve described this ecosystem as a “data-led consumer insight engine.” How exactly does this data help you lower acquisition costs and drive repeat visits?
Having a database of 12.4 million members is a massive strategic asset that functions as the brain of our marketing operations. This data-led engine allows us to understand individual purchase patterns, style preferences, and visit frequencies with incredible granular detail, which in turn allows us to move toward a more targeted route to the consumer. Instead of spending heavily on broad acquisition campaigns, we can use these insights to trigger personalized offers and communications that encourage repeat visits at a much lower cost than finding a new customer. This engine is particularly vital as we move toward an omnichannel model, as it helps us bridge the gap between our physical stores and our digital presence. By knowing exactly what our most loyal customers want, we can refine our inventory and marketing to meet their needs, creating a self-sustaining cycle of engagement that significantly improves our overall marketing efficiency.
There is a visible shift in your product mix toward “casualization,” with brands like ColorPlus and Parx seeing double-digit growth. How are you evolving the brand’s identity to cater to younger consumers who are moving away from traditional formalwear?
We have recognized a significant shift in consumer behavior where younger shoppers are increasingly opting for knitwear, denims, and polos over traditional formal shirts and trousers. To stay ahead of this trend, we are expanding our offerings in smart casuals, chinos, and knits, supported by high-tech fabric innovations like Airshield, Flextech, and Technoclean. This isn’t just about changing the clothes; it’s about shifting what the brand stands for in the minds of the next generation. We’ve seen the casual component within our core brands like Park Avenue and Raymond Ready-to-Wear increase by 200 basis points year on year, now reaching about 18% of the mix. This evolution allows us to remain relevant for everyday wear while maintaining the premium quality and fit that our customers expect from us, ensuring that we are present for both their professional and personal milestones.
You’ve also mentioned that premiumization remains a central pillar, especially in textiles and wedding wear. How is the shift to a “Made-to-Measure” model for high-end Ethnix products changing the way you handle the luxury segment?
In the luxury wedding wear segment, particularly for products like sherwanis and bandhgalas priced above $50,000, we have moved from a Made-to-Stock to a Made-to-Measure model. We’ve found that consumers spending upwards of $75,000 on these significant life purchases are not looking for off-the-rack solutions; they want deep customization in embroidery, color, and fabric. These customers are perfectly willing to wait 14 to 21 days for a product that is uniquely theirs, which allows us to operate more efficiently while providing a superior, bespoke experience. This shift supports our margins and average selling prices because it positions us as a luxury service provider rather than just a clothing retailer. By focusing on high-value materials like pure wool and linen blends, we are meeting the aspirations of an increasingly urban and high-income consumer base that values exclusivity and craftsmanship.
Your retail strategy has undergone a major rationalization, exiting 133 underperforming stores while opening 85 high-yielding locations. What is the logic behind this network reset, and how do e-commerce and Large Format Stores (LFS) fit into the new picture?
The rationalization of our physical footprint is a strategic move to ensure that every square foot of retail space we operate is delivering maximum value. Since June 2025, we have been exiting underperforming locations and redirecting our resources toward higher-yielding areas, bringing our active network to 1,627 stores across 600 cities. At the same time, we are seeing incredible traction in e-commerce and Large Format Stores, with LFS alone growing by more than 25%. This omnichannel approach allows us to reach consumers where they are most comfortable shopping, whether that’s a high-end flagship store or a digital marketplace. By balancing our exclusive brand outlets with strong third-party and online partnerships, we are creating a more resilient and flexible distribution network that can adapt to changing shopping habits while lowering our overall cost of operations.
Raymond Lifestyle also has a massive garmenting business that manufactures for global icons like Tommy Hilfiger and Calvin Klein. How does this vertical integration across design and manufacturing give you a competitive advantage in your own brand building?
Our garmenting business is a silent engine of growth that provides us with a unique perspective on global trends and manufacturing excellence. By winning orders from international giants like Tommy Hilfiger, Calvin Klein, and Brooks Brothers, we are forced to maintain world-class standards in fabric design and factory efficiency. This vertical integration—where we control everything from the initial thread to the final stitch—gives us a massive advantage in speed and quality control for our own domestic brands. We understand the technical requirements of high-end manufacturing better than almost anyone else in the market, which allows us to produce superior products for our own labels at a more efficient cost. Additionally, manufacturing for our competitors gives us a broader view of the industry landscape, helping us stay sharp and ensuring that our manufacturing capabilities remain at the cutting edge of global fashion.
What is your forecast for the future of heritage brands in an era dominated by rapid digital shifts and changing consumer identities?
I believe we are entering a period where heritage will be a brand’s greatest asset, provided it is coupled with extreme operational agility. My forecast is that the brands that survive and thrive over the next decade will be those that can successfully bridge the gap between their historical craftsmanship and a modern, data-driven supply chain. We are seeing a “return to quality” where consumers are tired of fast fashion and are looking for pieces that have a story and a sense of permanence—this is where a century-old brand has an unfair advantage. However, that heritage must be delivered through a seamless omnichannel experience, where a customer can get a bespoke suit measured in a store and then reorder a casual polo via a D2C app with a single click. The future belongs to the “agile giants” who can use their massive scale to drive efficiencies while using data to maintain the intimate, personalized feel of a local tailor. Over the next few years, the focus will shift entirely toward this “consumer-centricity,” where data doesn’t just track behavior but anticipates it, allowing us to build the foundation for another hundred years of relevance.
