Gautam Singhania, the Chairman and Managing Director of Raymond Group, has made a decision that has left his father, Vijaypat Singhania, heartbroken. The decision to break up the Raymond Group, a decades-old conglomerate with a rich history, has been met with widespread criticism and disappointment, particularly from Vijaypat Singhania, who built the company from the ground up.
[ in image: left, Vijaypat Singhania & right: Gautam Singhania]
In an exclusive interview with Business Today, Vijaypat Singhania expressed his deep disappointment over his son's decision. "It took a lot of time and effort to build Raymond's legacy, and it breaks my heart to see my son dismantle the company," he said.
Vijaypat Singhania, who is revered as a patriarch in the Indian textile industry, recalled the early days of Raymond, when he started the company with just a few looms. He described the company's growth over the years as a testament to his hard work and dedication.
"I remember the days when I would personally travel to villages to meet weavers and source raw materials," he said. "It was a struggle, but I was determined to build a company that would make India proud."
Gautam Singhania's decision to break up the Raymond Group has been attributed to various factors, including financial pressures and a shift in market dynamics. However, Vijaypat Singhania believes that these challenges could have been overcome with perseverance and a commitment to the company's legacy.
"I have no doubt that Raymond could have survived and thrived if given the chance," he said. "But my son has chosen to take a different path, and I can only hope that his decision will not be the end of Raymond's story."
Vijaypat Singhania's words reflect the deep emotional connection he has with Raymond Group, a company that has been his life's work. His disappointment over his son's decision is understandable, as it represents the end of an era for the Singhania family and the Raymond brand.
Gautam Singhania's decision to break up Raymond Group is a significant event in the Indian corporate landscape, and it remains to be seen whether the company's legacy can be preserved under its new structure. However, Vijaypat Singhania's words serve as a reminder of the company's rich history and the sacrifices made by those who built it from the ground up.
[image credits: the Finacial Express]
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