14 July 2022, Mumbai:
Raymond group on Wednesday appointed a super-performer Atul Singh, a hi-profile former head of Coca-Cola India, as the Executive Vice Chairman.
Cava follows sustainable practices at all stages of the business from sourcing materials and fabrics to ethical labor regulations and spreading the message of mindful consumption and elongated product lifecycles.
Cava’s trendy apparel is made with premium, sustainable fabrics integrated with international design trends and comfortable silhouettes.
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For FY22, the 98-year-old company reported consolidated revenue from operations of Rs 6,179 crore and an EBITDA of Rs881 crore.
The group has created way-forward strategies for its business verticals — the flagship Raymond Lifestyle (suiting, shirtings, fabrics, apparel, garments exports, and garments); Raymond Realty, JK Files & Engineering (which includes the steel files, tools, hardware, and auto components businesses) and education.
The Gautam Singhania-led company manages price fluctuation risks through a combination of forward and spot bookings, inventory management, pre-emptive vendor development practices, and price hikes are undertaken.
To become debt-free by 2025, apparel brand Raymond has undertaken several cost reduction and resource mobilization initiatives.
CREDITS: ET
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