who is Vijaypat Singhania, handed over ₹ 12000 crore company to son struggle after raymond dispute
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Company started 100 years ago
The story of Raymond Company began over 100 years ago. In the year 1900, the foundation of this company was laid as a woolen mill in Thane, Maharashtra, which was named Wadia Mill. This mill used to make uniforms for the army personnel. In the year 1925, a businessman from Mumbai bought this mill, but in the year 1940, Kailashpat Sindhaniya bought Wadia Mill from him, which was named Raymond Mill. The Singhania family belonged to Shekhawati, a small area in Rajasthan. Started JK Cotton Spinning and Weaving Mills Company in Kanpur. This company was started by England to compete with the upcoming clothes.
Vijaypat Singhania took command in 1980
The story of Raymond’s beginning began a hundred years ago, which gradually went on from child to child. Kailash Singhania started making cheap woolen clothes. He focused on fabric. In the year 1958, the first Raymond showroom was opened in Mumbai. By 1960, Raymond had become the first mill in the country, where cloth was made from foreign machines. From ‘The Complete Man’ to ‘Feels Like Heaven’, every time this tagline connected people to Raymond. In the year 1980, Vijaypat Singhania took command of Raymond. In 1986, Singhania launched Park Avenue apart from Fabrics. In 1990, Vijaypat Singhania opened the first showroom outside India.
father-son fight
A dispute broke out between Vijaypat Singhania and his son Gautam Singhania. The dispute started over a flat, which Vijaypat Singhania wanted to sell, but Gautam did not want to sell. The dispute increased so much that the relationship between the two started deteriorating. Gautam starts sidelining Vijaypat Singhania.
Once upon a time he used to fly the ship himself, today he is spending the day in a rented house.
Vijaypat Singhania was fond of everything from airplanes to helicopters. He has 5000 hours of flight experience. At the age of 67, he also made a record for the highest flight in the world in a hot air balloon. But after handing over the property to his son, he had to shift to a rented house. The son also took away the facility of car and driver. Those who once used to fly aeroplanes, were forced to walk. Not only this, even the name of Chairman-Emeritus (retired chairman) was snatched away.
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