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Raymond demerges core lifestyle business into separate entity

Friday, 08 Nov 2019
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Raymond will demerge its core lifestyle business into a separate listed entity to simplify the group structure and create investor opportunities. The new entity, Raymond Lifestyle, will bring all its existing branded textile, apparel and garment businesses under one umbrella.

After the split, Raymond will retain its real estate project, land in Thane, manufacturing of shirts for business-to-business (B2B) customers, auto components, tools and hardware, along with denim and consumer goods businesses.

Raymond owns 125 acre land in Thane, Maharashtra and has been looking at ways to monetise the asset, either through an outright sale or by developing it in a phased manner. As part of the demerger plan, the new lifestyle firm will be listed through mirror shareholding structure, wherein every shareholder will be issued shares of the new company in the ratio of 1:1.

The demerger of the lifestyle business will enable the demerged company and the resulting companies to have focussed strategy and specialisation for sustained growth and the ability to attract investors for better access to capital.

Raymond’s lifestyle business comprises around 1,500 stores across more than 600 towns and cities. Some of its leading brands include Raymond Ready to Wear, Park Avenue, ColorPlus, Parx and Raymond Made to Measure.

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