'With long-term vision, I aimed at creating 3 biz'

Raymond Lifestyle, the newly spun-off entity from the Raymond Group, is set to make its stock market debut soon. This new company will encompass the group's apparel business, a significant segment of the Mumbai-based conglomerate. As Raymond Lifestyle prepares to list on the bourses, GAUTAM SINGHANIA, chairman and managing director of the group, shared his vision and outlook for the company, which is approaching its centennial in 2025. In an interview with Sharleen D'souza and Samie Modak in Mumbai, Singhania says he has laid the groundwork for a promising future. Edited excerpts:

- GAUTAM SINGHANIA

Soon Raymond Lifestyle will list separately. Can you take us through the journey and the thought process? As you're aware, Raymond previously operated three distinct businesses, resulting in a substantial holding company discount. With a long-term vision, I aimed to create separate businesses with independent management, governance, and reward structures. Following the sale of our fast-moving consumer goods (FMCG) business, we repaid our debt and became cash surplus. We then initiated a two-phase demerger process.

First, we announced the demerger of our lifestyle business, and second, we plan to demerge our realty business next year.

This strategic move will unlock value by allowing like-for-like comparisons. Within Raymond Lifestyle, our wedding collection business can be compared to Manyavar (Vedant Fashions), our apparel business to Aditya Birla Fashion & Retail (ABRL), and our export business to Gokaldas. This clarity will enable investors to assess each business's true potential.