Sector: Textiles
Raymond sells FMCG business to GCPL. Demerges Lifestyle.
Restructuring/ consolidation continues at Raymonds. It has taken further key decisions – 1. The associate Company, Raymond Consumer Care Limited (RCCL), sells FMCG business to Godrej Consumer Products (GCPL). The divested business include condom brands KamaSutra and Premium and deodorant brands Park Avenue and DS. Raymond’s condom plant in Aurangabad, Maharashtra, will continue to do the … Read more
Raymond makes an important hiring
As was promised in November 2021, Raymond has taken an important step towards professionalising the management. It has appointed Atul Singh, former head of Coca-Cola India, as the Executive Vice Chairman. Atul worked with Coca-Cola for about two decades at several leadership positions and was last with them as Chairman, Asia Pacific. Prior to joining Coca-Cola, … Read more
Kerala’s coir sector in tatters
Almost all big players have shifted or plan to move their base to Tamil Nadu, but small-scale units and cooperative societies that have no other choice are finding the going tough Vasudevan K., 65, was born into a family of coir workers at Aryad, near Alappuzha. His first tryst with the golden fibre at a … Read more
Finally Raymond promises to professionalise the management
Whether you call it self realisation or market compulsions, Gautam Singhania (Chairman) announces what market wanted to hear – Raymond group will be reorganised in five core focus areas – textile, fmcg, real estate, education and engineering. All businesses will be managed by boards that will be made completely professional in the next 12 months. … Read more
Govt  OKs  ₹10,683  crore PLI plan for textiles
The government on Wednesday approved production-linked incentives for the textile industry, which it said could garner ₹19,000 crore in private sector investments and create at least 750,000 new jobs. The move aims to make Indian textiles more competitive in international markets after ceding ground to countries such as Bangladesh and Vietnam. The government will offer … Read more