Raymond to sell apparel brands ColorPlus, Park Avenue

Raymond is looking to sell its apparel retailing brands ColorPlus and Park Avenue. Raymond was seeking a valuation of about INR 500 crore for the ColorPlus business that owns about 90 standalone stores, apart from selling through other multi-brand outlets. For Park Avenue, which operates about 70 standalone stores, Raymond is seeking "significantly more" valuation The Mumbai-based group had earlier held talks with Denmark-based retail group Bestseller to sell the ColorPlus business.