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Raymond Ltd modifies brand-related policy

05
Dec '19
Pic: Raymond Ltd
Pic: Raymond Ltd
Raymond Limited recently modified its brand-related policy, as part of its proposed demerger scheme, to address concerns raised by certain investors related to the proposed royalty payment by Raymond Lifestyle Business to Raymond Limited after the demerger. Raymond arrived at an optimal structure related to ownership of Lifestyle Business brands.

Under the proposed scheme, along with the Lifestyle Business, 'Raymond' and all other brands currently being used in respect of textiles, readymade garments, retail business related to Lifestyle business ,tailoring services and allied accessories will be assigned to and owned by Raymond Lifestyle Business, according to a press release from the company.

Consequently, once the proposed scheme is approved by the National Company Law Tribunal (NCLT), Raymond Lifestyle Business will not be required to pay any royalty to Raymond Limited for its use of the brands. 'Raymond' brand ownership for all the other businesses (except for Raymond Lifestyle Businesses) will remain with Raymond Limited.

Raymond Limited had earlier announced the proposed demerger of its core Lifestyle Business into a separate entity that will be listed through mirror shareholding structure. Every shareholder of Raymond Ltd. will be issued the shares of the new company in the ratio of 1:1. The move will create a clear demarcation of Lifestyle & other businesses leading to the simplification of the group structure. The proposed scheme is subject to various regulatory and statutory approvals.

Fibre2Fashion News Desk (DS)


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