Mumbai-based textile and apparel major Raymond has announced its decision to split into two separate entities, with one of them focusing on the production and sale of its popular brands Kamasutra and Park Avenue. The move comes as part of the company’s strategic plan to streamline its operations and concentrate on its core businesses.
The two entities, Raymond Lifestyle and Luxury, will operate independently and cater to different market segments. Lifestyle will focus on the mass market segment, with a range of affordable products that cater to the needs of the middle-class consumer. On the other hand, Luxury will cater to the premium segment, offering high-end products and services to the affluent consumer.
The decision to split the company is part of it’s larger plan to streamline its operations and create a more focused and efficient organization. The company has been facing tough competition from both domestic and international players in recent years, and the split is seen as a way to enhance its competitiveness and profitability.
Commenting on the decision, Gautam Hari Singhania, Chairman and Managing Director of the company, said, “The split will enable both entities to focus on their core businesses and create more value for our stakeholders. It has always been committed to delivering the best products and services to our customers, and this move will help us achieve that goal more effectively.”
Raymond Lifestyle will be responsible for the production and sale of a range of products under the popular brands Kamasutra and Park Avenue. These brands have been the backbone of it’s success in the apparel segment and have a loyal customer base across India. The company will continue to invest in these brands and expand their product portfolios to cater to the changing needs of consumers.
Raymond Luxury, on the other hand, will focus on offering premium products and services to the affluent consumer. The company has a strong presence in the luxury segment, with brands like Raymond Made to Measure, Raymond Supima, and Raymond Ceremonial. The split will enable the company to further strengthen its position in this segment and offer a wider range of high-end products and services.
The split is expected to have a positive impact on Raymond’s financial performance in the long run. By focusing on its core businesses and optimizing its operations, the company aims to achieve sustainable growth and enhance shareholder value. The company has set ambitious targets for the coming years and is confident of achieving them with the help of its dedicated employees and strong brand portfolio.
The split will also enable Raymond to allocate its resources more efficiently and invest in areas that offer the highest returns. The company has been investing heavily in research and development, design, and innovation, and will continue to do so in the future. The split will allow the company to allocate its resources more effectively and achieve better returns on its investments.
The decision to split the company has been welcomed by industry experts and analysts, who believe that it will help Raymond enhance its competitiveness and profitability. The move is seen as a bold step by the company to address the challenges it faces in a rapidly changing market and create a more focused and efficient organization.
In conclusion, Raymond’s decision to split into two entities, with one of them focusing on the production and sale of its popular brands Kamasutra and Park Avenue, is a strategic move that will help the company enhance its competitiveness and profitability. The split will enable the company to allocate its resources more efficiently, focus on its core businesses, and create more value for its stakeholders. Raymond is committed to delivering the best products and services to its customers, and this move is a testament to its dedication to that goal.
