Mumbai, Nov. 28: Textile company S. Kumars Nationwide Ltd is planning private equity investments in demerged entity Reid & Taylor (India) Ltd.

It also intends to make an initial public offer for Reid & Taylor. The decision to demerge the Reid & Taylor division which focuses on the high end of the textile business was taken at a board meeting of S. Kumars Nationwide on Tuesday.

In a notice sent to the stock exchanges, S. Kumars said the “subsidiarisation” of the Reid & Taylor division was done to ensure a greater focus on the luxury textiles and premium garment businesses.

Apart from Reid & Taylor, the other brands in the company’s portfolio include S. Kumars, Carmichael House and Belmonte. Reid & Taylor was launched in the country more than 8 years ago and the brand now has a strong presence in the premium segment. Recent reports said the company had plans to open more outlets both in India and abroad.