Grey's Nirvik Singh appointed Raymond Apparel's new Chairman

Raymond Apparel Limited, a wholly owned subsidiary of Raymond Limited, has appointed Nirvik Singh as the Non - Executive Chairman and has inducted Anshu Sarin and Gautam Trivedi as new board members.

Gautam Hari Singhania has stepped down from the position of the Chairman and paved way for Singh to take charge as the Non - Executive Chairman. However, Singhania continues to be on the board of Raymond Apparel Limited. Anshu Sarin has joined the Board as a Non-executive Director along with Gautam Trivedi who has joined the Board as an Independent Director.

Singh is a 27-year marketing and communication industry veteran and is currently the Chairman and CEO, Asia Pacific, Middle East, and Africa of Grey Group Asia Pacific. He began his career with Lipton India, a Unilever company and became the head of Grey Group India at the age of 33. He has received the Bharat Nirman Rattan Award for outstanding individual achievements and distinguished services to India by the National Integration and Economic Council, among many other honors. Singh joined the Board of Raymond Apparel Limited in July 2011 and has since remained as an Independent Director on the Board.

Sarin is the Chief Executive Officer of Berggruen Hotels and plays a central role in growing and expanding the Keys Hotels business across India. Sarin is a qualified Hotel Management graduate from IHM Pusa and holds an EMBA degree from S.P Jain Institute. She has previously worked with the Taj Group of Hotels and Kingfisher Airlines, in a career spanning nearly two decades.

Trivedi is the Co-Founder and Managing Partner of Nepean Capital. He has over 26 years of experience in the Indian and Asian financial industry. He was the CEO of Religare Capital Markets, one of India’s leading Mid & Small Cap focused Investment Banks. Prior to that he was a Managing Director at Goldman Sachs having worked in their Hong Kong and Mumbai offices. Trivedi has also worked at Reliance Industries Ltd., Jardine Fleming (Asia), CLSA and DSP Merrill Lynch. He has an MBA from the University of Southern California (USC) and is an Aspen Institute fellow.

Operating in the space of branded apparel, Raymond Apparel Limited continues to grow its market share and offer the full wardrobe solution to the discerning consumer with its ready to wear power brands such as Park Avenue, Color Plus, Parx and Raymond Ready to Wear. With a focus on product innovations and go to market strategy, the company will utilize the immense experience and relevant skill sets of the new members on the board.

Commenting on the appointments, Raymond Limited Chairman and Managing Director Singhania said, “I have always believed in setting the highest standard of governance and have always advocated to run the business professionally. I am delighted that Nirvik Singh has been appointed as the Non - Executive Chairman of Raymond Apparel Limited and I am sure that the company will benefit tremendously under his able leadership. I also welcome Anshu Sarin and Gautam Trivedi as new board members of Raymond Apparel Limited.”

Raymond Apparel Limited said in a press statement that the company continues to expand its retail footprint with high focus on MBO channel penetration, enhancing in-house retail experience and omni-channel growth strategy along with strengthening the consumer engagement programmes across platforms. Having registered the growth of 15% during the last quarter over the previous year, the company expects to achieve a strong growth with the infusion of industry veterans in the forthcoming quarters.

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