Raymond's lifestyle business CEO Sanjay Behl quits
By Shubhangi Bidwe
20 Mar 2020
Sanjay Behl, CEO of Raymond’s lifestyle business has put in his papers. He was chief executive officer for the lifestyle business, a role he played for seven years. Raymond is in the process of demerging and forming a new company that will be focused on the lifestyle business. It will have the existing business of branded textiles, branded apparel and garmenting. The entity will be called Raymond Lifestyle. The existing one will have its new real estate project, land bank, engineering businesses of auto components and FMCG businesses, among others. The demerger is expected to simplify the group structure and enable the demerged company and the resulting companies to have a focused strategy and specialization for sustained growth and the ability to attract investors for better access to capital.
Raymond is India’s largest integrated worsted suiting manufacturer that offers end-to-end solutions for fabrics and garmenting. Among the brands within its portfolio are Raymond Ready to Wear, Park Avenue, Color Plus, Parx and Raymond Made to Measure. Raymond has one of the largest exclusive retail networks in the country with over 1,500 stores across 601 towns. Of these 1,500 stores, 1000 are Raymond stores and the rest are from other brands which include Park Avenue, Color Plus and Parx.