Raymond could be selling ColorPlus, Park Avenue brands

By

Maverick Martins

Published
Mar 31, 2022

Apparel and textiles major Raymond Ltd is reportedly in talks with Denmark-based retail group Bestseller for the sale of its apparel retailing brands of Colorplus and Park Avenue.
 

Raymond is seeking a combined valuation of over Rs 1000 crore for both its brands. However, the deal has been shelved for now due to differences over valuation, according to an Economic Times reported citing anonymous sources.
 
Both Raymond and Bestseller declined to comment.

“As a policy we do not participate in any market speculation and having said that, whenever we have any information to share, we will,” said Vineet Gautam, CEO of Bestseller India.
 
“As company policy, we do not comment on market speculations,” a spokesperson for Raymond added.
 
Raymond’s Colorplus, and Park Avenue are two of the top performing brands of the Mumbai-based group. It has 90 standalone stores for Colorplus while Park Avenue has 70 standalone stores across the country.
 
Bestseller sells brands Jack & Jones, Vero Moda, Only, Selected Homme and Produkt in India through 375 exclusive-brand outlets and e-commerce platforms.