Only Vimal no more; RIL selling textiles biz

Reliance Industries (RIL) has put the division on which its massive fortunes were built — the textiles business along with brand Vimal — on the block.
The brand became ubiquitous in the 1980s pitched by the catchy “Only Vimal” jingle, which resonated for years.
Industry sources said RIL has been on the lookout for buyers for the past three months and is not keen on continuing with the segment.

“The deal is being brokered by a European player. Digjam anda couple of other Gujarat-based players, could be potential buyers for this unit,” said an industry source who did not wish to be identified.
Two more industry sources confirmed the textile division- which includes the Vimal brand, has been on the block for the past three months. “The company is no more interested in this division; its contribution to the total turnover of RIL is very less. The deal may be nearing closure,” another source added.
A spokesperson for Reliance Industries refused to comment on the development. Concerned officials from Digjam Ltd could not be reached for immediate comment.
The various brands under the textile division which produces shirtings and suitings include- main brand Vimal and sub-brands like Vimal White, Vimal Black and Vimal Red.