The Reid & Taylor division of S Kumars Nationwide Ltd has become a subsidiary of the latter, enabling a fresh repositioning for the brand.
The move repositions Reid & Taylor as a high profit-margin, luxury brand for men, and is a precursor to inviting private equity investors and going public or coming out with an initial public offering eventually, said a company release.
“By adopting a sharply focused approach through Reid & Taylor (India) Ltd and the value that the subsidiary will unlock, we are reiterating our commitment to the growing luxury textile segment,” said Vice Chairman and Managing Director Nitin S Kasliwal.
Reid & Taylor is in the business of luxury textiles and ready-to-wear garments, and the subsidiary Reid & Taylor (India) Ltd plans to capture a bulk of the upper end of the value chain, according to the release.
– Bengaluru Bureau
