Textiles and apparels have many new areas in themselves like fast fashion and others to crack.
They tried apparel (Parx, Park Avenue, Color Plus).
But issue is lack of focus from promoter front and old lala culture.
lack of focus from promoter
GAUTAM SINGHANIYA was a playboy and a social animal like his father. He never took great interest in business. He once even said that everything is for sale as long as offer is good. (context is apparel / textile division).
He has 2 daughter and they are in teens. So they won’t be joining management anytime soon.
old lala culture
They have brought outside professional to run as CEO but they never replaced the middle management.
So, many time, good initiative never gets implemented but middle management is still stuck in old thinking and all they care about themselves and their sales target.
Disclaimer - I am Raymond authorized retailer for last 16 years and I am selling Raymond Suiting since last 30 years.
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