Arvind Fashions Limited (AFL) has appointed Shailesh Chaturvedi as Managing Director and CEO of the company, effective 1 February 2021, replacing veteran J Suresh who is set to retire later this year.
Chaturvedi was previously Managing Director and CEO at PVH-Arvind brands, a joint venture that sells brands such as Tommy Hilfiger and Calvin Klein. He also led the Arrow brand for Arvind Fashions.
Suresh, current MD and CEO, who joined the company in September 2005, will work with Chaturvedi for a smooth transition. After stepping down from his post, Suresh will continue on the AFL board and also advise the board on key strategic issues.
With work experience spanning 28 years, Chaturvedi has been responsible for the launch and development of popular brands in Indian retail, including Tommy Hilfiger, Calvin Klein, Arrow, Louis Philippe, Van Heusen, and Allen Solly.
Before joining AFL, he served as the Head of Benetton plc's (Italy) wholesale business in the Asia Pacific region based in Hong Kong, where he was responsible for developing its business in countries like Australia, Taiwan, Thailand, Singapore, Hong Kong, Indonesia, Vietnam, Philippines, and Malaysia, the company said.
The change at the top helm comes at a time when the company has been cutting out loss-making retail formats to focus on select brands. It shut down loss-making stores of its value retail format Unlimited and more recently ended its partnership with American fashion retailer GAP in India. More recently, Flipkart invested ₹260 Cr to pick up a stake in Arvind Fashion subsidiary that owns the denim brand Flying Machine.
Going forward, the company will focus on six key brands, look to scale up its business through digital capabilities, and continue expansion into adjacent categories to provide global fashion experiences to Indian consumers, the company said in its statement. In this direction, it is hoping to leverage Chaturvedi’s expertise in working with international brands, which gives him a unique insight into global best practices and bringing them to the Indian market.
Image Credits; Indiaretailing.com