Mark of the Singhanias
In the WTO regime, the Indian textile industry is poised to cash in on enormous opportunities that are opening up
When families break up, it is not as if carefully nurtured legacies are lost in the heartbreak of splits. Some segments of a broken up business house end up prospering even more as individual entities than as a part of some slumbering joint family driven business house. The Aditya Birla group is a classic example of this dictum. The Singhanias who manage Raymonds are yet another example. It can be arguably stated that of the three fragments of the original Singhania house, the Mumbai based faction that has nurtured Raymonds for decades has been the most successful. Another faction of the family that runs companies like J.K Tyres can also be designated as a survivor. However, the north based faction of the Singhania family that had J.K Synthetics is almost defunct. One of the key reasons for the Raymonds Singhanias to do well is the old fashioned virtue of concentrating on core competence. While many business houses have frittered away money and energy in ambitious diversification plans that have never really materialized, the Mumbai based Singhanias have focussed on maintaining Raymonds as one of the most visible, sold and liked textile and apparel brand in the country. Chairman Emeritus – Vijaypat Singhania, who is also famous as an aviator, has now handed over the reins to Gautam Singhania who is busy with new strategies to make Raymonds a global textiles and apparel multinational, cashing-in on the end of the quota regime in the international textiles market.
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When families break up, it is not as if carefully nurtured legacies are lost in the heartbreak of splits. Some segments of a broken up business house end up prospering even more as individual entities than as a part of some slumbering joint family driven business house. The Aditya Birla group is a classic example of this dictum. The Singhanias who manage Raymonds are yet another example. It can be arguably stated that of the three fragments of the original Singhania house, the Mumbai based faction that has nurtured Raymonds for decades has been the most successful. Another faction of the family that runs companies like J.K Tyres can also be designated as a survivor. However, the north based faction of the Singhania family that had J.K Synthetics is almost defunct. One of the key reasons for the Raymonds Singhanias to do well is the old fashioned virtue of concentrating on core competence. While many business houses have frittered away money and energy in ambitious diversification plans that have never really materialized, the Mumbai based Singhanias have focussed on maintaining Raymonds as one of the most visible, sold and liked textile and apparel brand in the country. Chairman Emeritus – Vijaypat Singhania, who is also famous as an aviator, has now handed over the reins to Gautam Singhania who is busy with new strategies to make Raymonds a global textiles and apparel multinational, cashing-in on the end of the quota regime in the international textiles market.
To read more on IIPM Editorial Article, please click here...,
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Source: IIPM, 4Ps, B&E
posted by IIPM in the field of Education and Research at 10:01 AM
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