In a telephonic conversation with The Financial Express, Mr Gautam Singhania said,"I am very honoured that the board has placed their trust on me. I hope to make Raymonds a company pro-active to the market trends and customer needs. We are currently working on a number of initiatives towards achieving this."

Just 14 months ago, Mr Vijaypat Singhania had relinquished the managing directorship of the company in favour of his son. "It is with a deep sense of satisfaction and pride that I pass the torch to my son. We need young blood and fresh thinking to lead us to success in the new millennium and as a bright young man, my son Gautam has shown what it takes to lead the company professionally to greater heights," said Mr Vijaypat Singhania.

Under the stewardship of Mr Vijaypat Singhania the Raymond Group has grown from a company with a turnover of just Rs 40 crore to over Rs 2,000 crore today. "Over these two decades, Singhania's vision and leadership has enabled the company to dramatically expand activities and build a unique and unparalleled distribution and retail network," the release adds. Raymond today is the leading manufacturers of worsted textiles with a market share of 40 per cent.