your password has been reset successfully, Please login again.

Raymond to Demerge its Lifestyle Entity into a Separate Business Entity

Raymond asserts to have one of the biggest exclusive retail nexus in the nation with more than 1,500 stores in over 600 towns and cities.
BY BEx Bureau
Nov 08, 2019

Textile and apparel firm, Raymond has proclaimed to demerge its lifestyle segment into a separate entity that will be listed on stock exchanges.

The move will create a clear demarcation of lifestyle and other businesses, leading to the simplification of the group structure, VC Circle reported citing Raymond's statements in a stock-market disclosure.

"Demerging the core lifestyle business is an affirmative step towards enhancing performance and delivery across verticals," Gautam Hari Singhania, Chairman and Managing Director at Raymond, said in an interview with VC Circle.

The new company will house the branded textile, branded apparel and garmenting businesses. The existing company will retain a real estate project, the Thane land bank, the business-to-business shirting business, and the denim and FMCG business. It will also retain the engineering businesses of auto components and tools and hardware, the media report cited Raymond's statements.

Under the new proposition, stakeholders of Raymond will be issued precisely equal count of stakes in the new firm.

Raymond manages other prominent brands such as ColorPlus, Parx and Park avenue. The clothing brand asserts to have one of the biggest exclusive retail nexus in the nation with more than 1,500 stores in over 600 towns and cities

Please add your Comment
February 28, 2020
ONGC and HPCL are acquiring a new share for INR 371 crore, which they did not own previously ...More
By Jaspreet Kaur
January 14, 2020
Hero Motors’ business unit, Hero Cycles Ltd has lately procured a share in Germany-based first-rate ...More
By Jaspreet Kaur
January 13, 2020
With this deal, PayU will procure a controlling share in the Mumbai-based startup and also own its a ...More
By Jaspreet Kaur
January 09, 2020
Crystal Crop Protection Ltd has lately acquired three insecticide products from the American agricul ...More
By Jaspreet Kaur
December 23, 2019
Human resource tech firm, PeopleStrong proclaimed that it has bought software-as-a-service (SaaS), Q ...More
By Jaspreet Kaur
December 21, 2019
Microsoft-run program, Microsoft ScaleUp has lately proclaimed that it has extended support to 18 st ...More
By Jaspreet Kaur
December 20, 2019
Matrix Partners India led the funding round; other investment companies that participated in the rou ...More
By Jaspreet Kaur
December 17, 2019
Bijak, agriculture-focused business permits traders, processors and wholesalers to record their busi ...More
By Jaspreet Kaur
December 16, 2019
Software firm, Mastek has lately proclaimed its plans of divesting in Majesco Ltd; the firm has sold ...More
By Jaspreet Kaur
December 10, 2019
The intelligence solution provider is reportedly establishing its 4th Indian bureau; this time, the ...More
By Jaspreet Kaur
December 07, 2019
As per the startup, it will employ the funds to increase operations in India and the Middle East via ...More
By Jaspreet Kaur
December 04, 2019
Plastic manufacturing firm, Manjushree Technopack Ltd has lately purchased a majority share in Amrit ...More
By Jaspreet Kaur