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Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
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News Flash
Raymond all set to acquire textile firm
25 Aug '06
1 min read
Mumbai based textile and apparel company, Raymond Ltd is expected to take over domestic manufacturing unit based in Tirupur near Coimbatore.
For a start, Raymond may buy 51 percent share in the unit valued at over Rs100 crore and the official announcement could be made in the first week of September; however, a senior official of the company denied such plans.
The facility has 600 machines with annual sale of Rs80 crore. Raymond had in 2003 taken over ColourPlus Fashions which is a leading domestic brand of casual wear.
Experts have opined that the move will boost the profits of Raymond with denim. Raymond is exploring new areas such as technical textile and further strengthening its home textile category.
For a start, Raymond may buy 51 percent share in the unit valued at over Rs100 crore and the official announcement could be made in the first week of September; however, a senior official of the company denied such plans.
The facility has 600 machines with annual sale of Rs80 crore. Raymond had in 2003 taken over ColourPlus Fashions which is a leading domestic brand of casual wear.
Experts have opined that the move will boost the profits of Raymond with denim. Raymond is exploring new areas such as technical textile and further strengthening its home textile category.
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