The Turnaround at Raymond

Driven by the rising demand for clothing for soldiers in the Indian Defense Forces in 1925, a man named Wadia had the foresight to build a small woolen mill in Thane (Mumbai). But the mill was not destined to remain with him for long. In 1925, E.D. Sassoon and Company (Sassoon), a prominent Baghdadi Jewish industrial family of that time, took over the company. They renamed it ‘The Raymond Woolen Mills’. ‘Raymond’ was derived from the names of noted members of the Board of Directors of Sassoon – Albert Raymond and his nephew Abraham Jacob Raymond. During that time, the mill spun a moderate quantity of woolen blankets and fabric....