Latest news with #GautamSinghania
Mint
3 days ago
- Automotive
- Mint
Gautam Singhania meets European royal Prince Albert II: Here's why they met, what they discussed & more
Indian billionaire Gautam Singhania shared a picture with Prince Albert II of Monaco and shared his encounter with the European royalty. 'An absolute honour to meet H.S.H. Prince Albert II of Monaco,' Singhania said in an Instagram post on May 31. According to media reports, Indian billionaire Gautam Singhania was in Monaco for the Grand Prix and had met European royal Prince Albert II of Monaco on the sidelines of the international racing event. Gautam Singhania was cheering on Kush Maini, the first Indian to win the Formula 2 Sprint Race, at the iconic Monaco Grand Prix on Saturday, May 31. Singhania's JK Racing, along with TVS Racing, has been supporting Maini in his racing career from the beginning. He was seen in the pit lane embracing Maini after the monumental win. In an Instagram post, Gautam Singhania said he had a 'warm conversation' with Prince Albert II, who appreciated his outfit for the event. Singhania was wearing an embellished navy blazer, which he said was from his company's Chairman's Collection. He paired it with white trousers and navy blue leather shoes with a prominent lion logo. The company launched its Chairman's Collection in March 2025 to celebrate 100 years of Raymond. The European royal, who was wearing modest formals, liked the Raymond chairman's outfit. 'Grateful for the warm conversation and his kind words on the Chairman's Collection I was wearing. A true moment of pride,' said Singhania in his post, without elaborating further. Prince Albert II of Monaco is the reigning monarch of the Principality of Monaco. He ascended to the throne in 2005 following the death of his father, Prince Rainier III. Born on 14 March 1958, he is the only son of Prince Rainier III and American actress Grace Kelly. He is known for his commitment to environmental causes. In 2006, he established the Prince Albert II of Monaco Foundation to support sustainable development and conservation efforts worldwide. As of 2025, media reports suggest that Prince Albert II's personal net worth is estimated to be around $1 billion. It is derived from various sources, including substantial real estate holdings in Monaco and France, investments in the Société des Bains de Mer (which operates Monaco's famed Monte Carlo Casino), and inherited assets from his mother, Princess Grace. His financial affairs were under scrutiny recently due to a corruption scandal involving his former financial manager, Claude Palmero. Palmero faced legal action initiated by the prince on accusations of financial mismanagement and corruption. This was the first such move by a Grimaldi in 700 years.
Hindustan Times
3 days ago
- Automotive
- Hindustan Times
Gautam Singhania meets Prince Albert of Monaco. What the royal told Indian billionaire
Indian billionaire Gautam Singhania met Prince Albert II of Monaco recently and shared a picture with the European royal on Instagram. Singhania, a motorsport enthusiast and car racer, had been in Monaco for the Grand Prix. Besides serving as the chairman of Raymond Group, Gautam Singhania, 59, is also the founder of the Super Car Club and has participated in international racing events, including the Ferrari Challenge series. He was seen cheering for Kush Maini as Maini became the first Indian to win the Formula 2 Sprint Race at the Monaco Grand Prix. On May 31, Gautam Singhania took to Instagram to share a photograph that shows him posing with Prince Albert II of Monaco. The two apparently met on the sidelines of the Monaco Grand Prix. Singhania was seen dressed in an ornate, embellished navy blazer, white trousers and shoes bearing the design of a lion. The European royal, on the other hand, wore a more sedate outfit - beige trousers, navy blazer and formal shoes. Singhania revealed that his outfit was from Raymond's Chairman's Collection, which was unveiled in March 2025 to celebrate 100 years of Raymond. A post shared by Gautam Singhania (@gautamsinghania99) In the image caption, the chairman of Raymond revealed that Prince Albert praised his outfit. 'An absolute honour to meet H.S.H. Prince Albert II of Monaco. Grateful for the warm conversation and his kind words on the Chairman's Collection I was wearing. A true moment of pride,' he wrote. Gautam Singhania is the chairman and managing director of Raymond Group, the world's largest producer of suiting garments. According to Forbes, Singhania has a net worth of USD 1.4 billion. Singhania was born to Vijaypat Singhania in a Marwari industrialist family. He is known to be passionate about racing cars and owns an impressive collection of supercars. For the last couple of years, he has been in the news for his private life - Singhania announced his split with Nawaz Modi, his wife of 32 years, just a few days after she was allegedly stopped from entering the billionaire's Diwali party in 2023.
Fashion Network
13-05-2025
- Business
- Fashion Network
Raymond Lifestyle reports Q4 net loss of Rs 45 crore
Raymond Lifestyle reported a consolidated net loss of Rs 45 crore ($5.4 million) for the fourth quarter ended March 31, as against a net profit of Rs 236 crore in the year-ago period. Raymond's revenue from operations was down 11 percent to Rs 1,494 crore, as against Rs 1,685 crore in the year-ago period. During the quarter, Raymond Lifestyle's revenue from the textile segment was Rs 727 crore while branded apparel segment and garmenting segment added Rs 391 crore and Rs 248 crore respectively. For the full financial year 2025, Raymond's total income stood at Rs 1,579 crore with a net profit of Rs 38 crore. Commenting on the results, Gautam Singhania, executive chairman in a statement said, 'Our performance this year was under pressure, primarily due to weak consumer demand and challenging macro-economic conditions. Despite these headwinds, we remain committed to our retail expansion strategy, resulting in the opening of 170 new stores reaching a total of 1,688 stores, including 152 stores in 'Ethnix by Raymond' during the year.' Raymond Lifestle portfolio of brands includes Park Avenue, Colorplus, Parx, Raymond Made to Measure, Raymond Ready to Wear, Sleepz by Raymond, and Ethnix by Raymond amongst others.
Time of India
13-05-2025
- Business
- Time of India
Raymond Lifestyle slips into loss of Rs 45 crore in Q4 FY25
New Delhi: Raymond Lifestyle Ltd, on Monday, has reported a consolidated net loss of Rs 45 crore for the fourth quarter ended March 31, 2025, hurt by muted demand and higher expenses. This compares to a profit of Rs 236 crore in the same period last year, which included a one-time gain from its discontinued FMCG operations, as per a regulatory filing. The company stated that its Q4 performance was impacted by high inflation, subdued consumer demand, and a ransomware attack that disrupted operations, resulting in temporary system outages and supply chain delays. The company's consolidated revenue from operations for Q4 stood at Rs 1,494 crore, down 11 per cent from Rs 1,685 crore in the year-ago quarter. For the full financial year FY25, revenue slipped to Rs 6,177 crore from Rs 6,535 crore in FY24. For the full year, Raymond Lifestyle posted total income of Rs 6,360 crore, with EBITDA at Rs 651 crore and a 10.2 per cent margin, down from the previous year. Prolonged heatwaves, the general elections, and fewer wedding dates were cited as macro headwinds impacting sales across channels. 'Despite the challenges, we opened 170 new stores in FY25, taking our retail footprint to 1,688 stores, including 152 Ethnix outlets. We are optimistic about FY26 as early signs of demand recovery are visible in April,' said Gautam Singhania , executive chairman of the company. Branded Textile: Revenue fell 21 per cent YoY to Rs 727 crore in Q4; EBITDA margin dropped to 7 per cent from 21.8 per cent due to demand softness and operational disruption. Branded Apparel: Revenue stood at Rs 391 crore vs Rs 409 crore YoY; EBITDA margin slumped to 0.4 per cent from 13.5 per cent amid retail expansion costs and adverse channel mix. Garmenting: Revenue flat at Rs 248 crore; EBITDA turned negative at -2.9 per cent vs 12 per cent last year due to new customer onboarding and training costs. High Value Cotton Shirting: Revenue dipped to Rs 185 crore; however, EBITDA margin surged to 33.1 per cent due to a one-time subsidy of Rs 53 crore. Raymond Lifestyle ended FY25 as a net cash surplus company with Rs 90 crore in cash. Further, the company said it expects the India-UK FTA to open new export opportunities and support its long-term growth ambitions in global value chains.
Business Mayor
12-05-2025
- Business
- Business Mayor
Raymond Lifestyle slips into loss of Rs 45 crore in Q4 FY25
New Delhi: Raymond Lifestyle Ltd, on Monday, has reported a consolidated net loss of Rs 45 crore for the fourth quarter ended March 31, 2025, hurt by muted demand and higher expenses. This compares to a profit of Rs 236 crore in the same period last year, which included a one-time gain from its discontinued FMCG operations, as per a regulatory filing. The company stated that its Q4 performance was impacted by high inflation, subdued consumer demand, and a ransomware attack that disrupted operations, resulting in temporary system outages and supply chain delays. The company's consolidated revenue from operations for Q4 stood at Rs 1,494 crore, down 11 per cent from Rs 1,685 crore in the year-ago quarter. For the full financial year FY25, revenue slipped to Rs 6,177 crore from Rs 6,535 crore in FY24. For the full year, Raymond Lifestyle posted total income of Rs 6,360 crore, with EBITDA at Rs 651 crore and a 10.2 per cent margin, down from the previous year. Prolonged heatwaves, the general elections, and fewer wedding dates were cited as macro headwinds impacting sales across channels. 'Despite the challenges, we opened 170 new stores in FY25, taking our retail footprint to 1,688 stores, including 152 Ethnix outlets. We are optimistic about FY26 as early signs of demand recovery are visible in April,' said Gautam Singhania, executive chairman of the company. Branded Textile: Revenue fell 21 per cent YoY to Rs 727 crore in Q4; EBITDA margin dropped to 7 per cent from 21.8 per cent due to demand softness and operational disruption. Read More Uniqlo risks boycott in China after CEO's Xinjiang comment Branded Apparel: Revenue stood at Rs 391 crore vs Rs 409 crore YoY; EBITDA margin slumped to 0.4 per cent from 13.5 per cent amid retail expansion costs and adverse channel mix. Garmenting: Revenue flat at Rs 248 crore; EBITDA turned negative at -2.9 per cent vs 12 per cent last year due to new customer onboarding and training costs. High Value Cotton Shirting: Revenue dipped to Rs 185 crore; however, EBITDA margin surged to 33.1 per cent due to a one-time subsidy of Rs 53 crore. Raymond Lifestyle ended FY25 as a net cash surplus company with Rs 90 crore in cash. Further, the company said it expects the India-UK FTA to open new export opportunities and support its long-term growth ambitions in global value chains.
