Raymond Apparel business transfer approved by NCLT

02 April 2022, Mumbai:

The transfer of Raymond Apparel business to parenting company, Raymond, has been approved by the National Company Law Tribunal (NCLT).

The Raymond board had approved the demerging of the B2C business in September 2021 including apparel, of Raymond Apparel (RAL), on a going concern basis to merge with the company itself.

ALSO READ Apparel retailers Raymond, Snapdeal, Uniqlo restructure boards

In a filing on September 27, 2021, Raymond said its focus on fast-tracking recovery post-pandemic will help consolidate its B2C business by transferring of apparel business into Raymond Ltd.

The move brings all major apparel brands including Park Avenue, Colorplus, and Parx into Raymond Ltd.

RELATED NEWS Apparel retailers Raymond, Snapdeal, Uniqlo restructure boards

Incepted in 1925, Raymond is a diversified group with majority business interests in textile and apparel sectors as well as a presence across diverse segments such as FMCG, Realty, Engineering, and Prophylactics in national and international markets.

Having enjoyed the patronage of over a billion consumers, Raymond is reckoned for delivering world-class quality products to its consumers for the past nine decades. 

Join our community on Linkedin