Mumbai: Raymond Lifestyle shares will be listed on the bourses on September 5 after demerger from parent Raymond, a leading fabric and garments manufacturer, company announced in a media briefing.
Raymond shareholders have received four equity shares of Raymond Lifestyle for every five shares held in Raymond
Raymond will be completing 100 years next week with roots dating back to 1925, as a small woollen mill in Thane (Maharashtra), manufacturing coarse woollen blankets., Raymond has evolved as the 10th strongest brand in India.
Raymond has over 1,500 stores across 600 cities and towns. The company also has a significant hold over the B2B space through its garments business. Located in Bangalore and Ethiopia, the state-of-the-art garment manufacturing facilities manufacture suits, shirts, trousers for famous fashion brands throughout the world.
The company has planned largest-ever retail expansion by adding 900 new outlets over three years through franchisee model.
“The demerger aims at unlocking shareholder value by creating a focussed lifestyle business entity. Raymond Lifestyle will sharpen strategic focus in this fast-growing sector to become among the top three global fabric suppliers by the end of this year. The global scenario presents significant opportunities, particularly the challenges in China and Bangladesh and trade agreements with the UK, EU and Australia," said Gautam Singhania, chairman and managing director, Raymond Group.
"With Raymond Lifestyle, we are all set to embark upon the largest-ever retail expansion with 900 new outlets over three years, alongside launching new categories such as sleepwear and innerwear. Several other categories are also in the pipeline.," said Sunil Kataria, CEO, Raymond Lifestyle.
