Raymond: New clothes on an old emperor
When 47 year old Sanjay Behl joined textile major Raymond as the chief executive officer about two years ago, the media speculated that he had been hired to transform the 90-year-old firm into a trendy global lifestyle company. While the jury is still out on that one, the company has definitely managed to make its way back into the black. It posted Rs 40-45 crore as profits in every quarter of FY 2015 (except for a loss of Rs 31 crore in Q1 which the company says is a weak period) and the stock price has doubled. Behl has led the company in rebuilding its premium image, aligned its brands more closely with consumer preferences and fashion trends and focused on building a loyal customer community.