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October 4, 2000 		Feedback  
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Raymond plans to buy ColorPlus brand

Diversified Indian industrial group Raymond Limited plans to buy the ColorPlus apparel brand, a business newspaper reported on Wednesday.

The paper quoted a Raymond senior official saying the company will pay Rs 350 million to ColorPlus Fashions, a Madras-based firm, for the brand, though it also quoted chairman Gautam Singhania saying Raymond would take some time to reach a final decision.

"We are looking at various options. It will take some time to take a final decision," Singhania was quoted as saying.

Company officials were not immediately available for comment.

ColorPlus has a 25 percent share of the Rs 1.45-billion market for premium smart casual wear, the paper said.

The Raymond share rose Rs 4.85 on Tuesday to close at Rs 97.25 as the benchmark Bombay index rose 1.1 per cent.

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