Leveraging CX to Drive Business Transformation and Expansion

Vipul Mathur, Chief Business Officer—New Businesses at Raymond, is a transformational leader with more than twenty years of experience in ecommerce, retail, and branding. He specializes in driving business transformations and innovation across both startups and large corporations.

Customer Experience (CX) is crucial for fostering business growth as it affects customer satisfaction, loyalty, and advocacy. When customers enjoy their experiences with a brand, they are more inclined to come back, buy again, and refer the brand to others. CX goes beyond merely satisfying customers; it focuses on building significant interactions that aid in a company's enduring success and profitability. It serves as the driving force behind customer loyalty and stimulates business growth. At BIGBOX INDIA – A Global Retail & E-Commerce Summit 2025 hosted recently by Scribe Minds & Media, CEO Insights Interacted with Vipul Mathur, Chief Business Officer- New Businesses, Raymond Lifestyle Limited, where he shares his insights on customer experience and how technology is transforming the way customers shop and engage with retail brands.

You joined Raymond almost a year ago. How exciting have these past months been? Also, tell us about your journey so far.
Raymond has recently been able to accelerate two businesses significantly: Raymond Home and Raymond Ethnics, as the team believes these ventures will bring substantial value, growth, and profitability to the organization over time. I have the privilege of being part of Raymond's efforts to develop new businesses. One achievement we can celebrate is establishing a vision and generating profit from it.

Reflecting on my previous experience with Nykaa, we successfully launched impressive brands catering to Indian women, specifically targeting the sisters and cousins of brides, as well as middle-aged women, through the brand Likha, which won the award for the Best Marketing Campaign of the Year.

Also Read: Brands Empowering and Prioritizing the Ethical Handloom and Artisans

I was also fortunate enough to receive a Lifetime Achievement Award in the e-commerce category as a leader. Additionally, I played a significant role in reviving Mufti, a brand that had been stagnating for 22 years. By introducing a new vision, ambition, processes, and systems, and bringing in the right talent, Mufti was able to grow and eventually successfully launch an IPO. It was a privilege to be part of that turnaround.

Moreover, one of the most fulfilling aspects of my career was when I entered the Indian retail sector in 2005 with Van Heusen, where the brand was valued at around 180 crores. When I left Van Heusen, it had grown to approximately 800 crores, making it one of the largest brands. Over the course of ten years, I worked on expanding the brand into multiple categories, including women’s wear and accessories, as well as taking it international and diversifying into men's clothing. The brand experienced significant growth, and I feel that I also progressed alongside it, as it was a wonderful organization to be part of.

It’s essential to foster truthfulness, trust, and integrity, providing real value to customers, and ensuring that we use their information not just to profit but to enrich their experience

What strategies or approaches have you implemented to improve the customer experience while collaborating with Raymond?
The customer experience is crucial for business growth and profitability. Our goal is to make sure that when a customer enters, it's for a significant occasion—be it their wedding, attending a wedding, or participating in a noteworthy festive event. We aim to assist them in dressing appropriately while keeping costs minimal. We focus on building capabilities within our store. This capability involves equipping our staff to advise grooms and their guests on attire, offering lighting backdrops, and encouraging them to take selfies and share fashionable looks. We also provide Instagram support by keeping up with influencer trends and guiding customers on what to purchase so they ultimately feel satisfied with their experience at Raymond.

Also Read: Strategies to Enhance and Sustain Customer Loyalty

How is AI transforming how customers shop and engage with retail brands today? How will customer behavior evolve?
There are two components to consider: the digital format and the physical format. I'll start by addressing the physical interaction. I think that customers have become very astute, coming in with pre-researched insights and opinions. They investigate what suits them best, which countries or states are trending, which influencers to follow, and which brands are popular. Consequently, I believe customers are much more informed now regarding images and how they can enhance their appearance.

When a well-informed customer enters, we as a brand must raise our standards of response and our capability to assist them effectively. This shift has made things both challenging and intriguing, as customers in the digital age, empowered by AI, can make comparisons easily. It’s essential to foster truthfulness, trust, and integrity, providing real value to customers, and ensuring that we use their information not just to profit but to enrich their experience. If we can achieve this, the entire journey becomes meaningful.