Renowned name Arvind Fashion Limited (AFL) has appointed Shailesh Chaturvedi as their new Managing Director and CEO. His service will begin from 1 February 2021. He is all set to replace veteran J Suresh who is going to retire later this year. The current MD and CEO of Arvind Fashion, J Suresh will be working with Chaturvedi for a smooth transition.
Even after his stepping down from his current post, Suresh will continue with AFL and he would be advising the board on key strategic issues. Chaturvedi has an experience of 28 years and has been behind the success of launching and developing brands in Indian retail. The list of these brands include popular names like Tommy Hilfiger, Calvin Klein, Arrow, Louis Philippe, Allen Solly and Van Huesen.
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Shailesh Chaturvedi was previously serving as as the Managing Director and CEO at PVH-Arvind Brands which is a joint venture that sells brands such as Calvin Klein and Tommy Hilfiger. Also, he led the Arrow brand for the company.
This major change took place at a time when Arvind Fashion has been focusing on cutting the loss-making retail formats. It decided to shut down the stores of its value retail format Unlimited and ended its partnership with American fashion retailer GAP in India. In a statement, the company said that they will now keep its focus on six key brands and will work on providing global fashion experiences to the Indian consumers. They are also looking up to form strategies to expand their business with the help of digital capabilities.