Friends, in today’s time, youngsters do not like to do jobs, everyone wants to start a log, in the new era of the internet, business and startups have also become easy. But a successful business empire requires hard work, mehndi, lagan, and a lot of passion. Some people get business from family only, they just have to sit on the throne and get training from their parents in the bare of time-to-time business. And some people build an empire of their own. With your mindset and hard work.
The story we are going to share with you today is in the bare hands of a family group business. So today we will talk about Raymond Limited’s barebones. So first let’s go to what business the Raymond company does. Raymond is a well-known and trusted brand in India. Raymond Ltd. is one of the largest manufacturers of textile and clothing industries. It is a Mumbai-based company. It has a 60% market share, it is India’s largest wool fabric marker. Their clothing business is huge, they have around 4000 multi-brand outlets and around 650 retail shops. Their products are exported to 150 countries, it is also a trusted brand in major countries of Japan, Europe, and Canada and they have more than 20000 couplers and designs. Now let’s see where such a big business Raymond started.
Raymond was started in 1925 under the name of Ramon Wollen Mill, in 1944 it was taken charge of Lala Kailashpat Singhania Ked Abha. His factory was near Thane, which is near Mumbai. In 1958, with a lot of effort and hard work, Mr. Gopalkrishna Singhania and Mr. Vijaypat Singhania made a small fabric company as a brand. A Raymond retail showroom was opened in Ballard Estate Mumbai in May. In 1968, a readymade garment plant was set up in the police station, at that time the demand for woolen clothes was increasing a lot.
Raymond Website https://www.raymond.in/
Everything was going well but the problem tab came when Vijaypat Singhania decided to hand over the company to his eldest elder Gautam Singhania. All the shares went to Gautam Singhania, whose price was about 1000 crores.
After that, the relationship between Vijaypat and Gautam Singhania started deteriorating. When Vijaypat Singhania gifted the business to his son 3 years ago, he thinks Gautam will keep his billion-dollar business in the Empire family business. But everything turned upside down. Vijaypat Singhania says that his son took him away from home and the office. Now Vijaypat is very much regretting his decision. Anne decided as her son had emotionally blackmailed her. Which at one time is known among the people of India. Now the 80-year-old Vijaypat had turned a small textile business into the Raymond Group. In today’s time, Raymond Group is famous for manufacturing the best quality Woolen Suits in the world. And Vijaypat is now fighting the case against his son. This is the great entrepreneurial family of South Asia I ate. Nowadays Singhania family has a lot of business which is also involved in Cement Dairy and Technology. India is ranked 3rd in the numbers of Family Business Groups, China is 2nd and we are at number 1 the new generation is also cafe aggressive to take control of the business
If we take the example of Mukesh Ambani’s family, who is the richest man in Asia, his fight with his brother Anil Ambani went on for many years, when his father Dhirubhai Ambani transferred the movable base property without
And another example is in a fight between Ponty Chada and Hardeep, who were brothers, both of them knocked each other in a shootout in 2012 over the ownership of the company. And the fight between billionaire Shivinder and Mahavir Singh was also over the family pharmaceutical empire.
Trouble started in Vijaypat Singhania’s life when he transferred 37% controlling stake to his son in 2015. In 2007, Vijaypat Singhania says that he was about to get an apartment which was of 36 floors in the Malabar area of Mumbai.
The cost of the Uska was approximately $10 million. Gautam advised the boards of his company to sell the house. And Vijaypat says that he was kicked out of the office and killed, and his Padma Bhushan, which is a huge award in India, was stolen. Vijaypat said that he did not talk to his son for 2 years. Now they are planning to take back their property, which is under the 2007 law in which if the survivors cannot meet the requirement of their parents, who can take back the gifted property?
Who describes Gautam like this: The height of folly by Gautam, a 93-year-old campaign to get rid of the business that made us business with hard work and henna Vijaypat Singhania ABB advises all parents not to give all their savings to their save, 2005 set the record for May’s Highest Hot Air Balloon Flight 68986 ft
But Gautam said that those who are just doing their jobs.
Gautam told the Economic Times that his responsibility is different from being Raymond’s chairman and having a son. Gautam said that he is the victim of whoever did him wrong But Raymond’s dispute did not harm the company, the company’s profit increased by more than 50 percent, and recently another factory was also established in Ethiopia. Today’s business environment is very complex. Youngsters today do not have patience and want to separate ownership from management. Politics is also getting a lot of benefits regarding the case of Ambani and Chaddha. Gautam said that the new type of management changed everything.