 "36 Raymond and 30 Color Plus stores have been redesigned; a concierge service introduced for better customer experience")
Raymond rallied 7% to Rs 797 on BSE in intra-day trade after the company announced the acquisition of Ansell’s stake in joint venture entity JK Ansell.
Raymond acquires 50% of Ansell stake in JK Ansell Company for 100% ownership of its sexual wellness and personal care business under the brand KamaSutra.
"With this transaction, the sexual wellness and personal care business will continue to remain in JK Ansell, which will become a wholly-owned subsidiary of JK Investo Trade (JKIT), a Raymond group company.
As per the proposed deal, JKIT will sell its stake in the gloves business
Raymond acquires 50% of Ansell stake in JK Ansell Company for 100% ownership of its sexual wellness and personal care business under the brand KamaSutra.
"With this transaction, the sexual wellness and personal care business will continue to remain in JK Ansell, which will become a wholly-owned subsidiary of JK Investo Trade (JKIT), a Raymond group company.
As per the proposed deal, JKIT will sell its stake in the gloves business
