Raymond looks at selling ColorPlus & Park Avenue

31 March 2022, Mumbai:

Raymond Group

It is one of the three leading branded apparel players in the menswear industry comprising a portfolio of Power Brands such as ColorPlus and Park Avenue etc.

ColorPlus

Launched in 1993, ColorPlus created a niche in the ready-to-wear market in India with a premium range of clothing for men.

Park Avenue

It is among India's leading Men's "Ready Made Garment" brands.

It enjoyed the Raymond Heritage and took the values of trust, integrity, quality to win over the hearts of millions of discernible consumers for decades.

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Raymond is looking to sell its apparel retailing brands of ColorPlus and Park Avenue businesses, two persons familiar with the development said.

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Raymond has held talks with Denmark-based retail group Bestseller to sell the ColorPlus business, but the talks failed without a deal, they said.

One of the persons quoted earlier said Raymond was seeking a valuation of about ₹500 crores for ColorPlus.

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CREDITS: ET (The news article has not been edited by DFU Publications staff).