Home Retail Darshan Mehta will join team Future Group

    Darshan Mehta will join team Future Group

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    , president, – and one of the most prominent names in the industry – has filed in his papers and is set to spearhead the international business of . Corporate communications of Arvind Mills confirmed the news, which has surprised the entire industry.

    Arvind Ltd Q4 net profit falls on account of higher expenses
    In a separate filing, Arvind Ltd said it plans to raise up to Rs 500 crore through issuance of non-convertible debentures on a private placement basis

    When contacted, Darshan Mehta confirmed the development to Indiaretailing saying, “I’ll be joining Future Group as CEO, new business and international ventures. The group is expanding and is looking for acquisitions and mergers abroad, and I’ll be handling this initiative.”

    When asked about his strategies for Future Group, Mehta said, “ is a visionary. He is certainly not a mass retailer, as the common perception might be, but a vast retailer with his business spread across all verticals. His Planet Retail venture has strengthened the group’s fashion business, and this is the time that the company must start to look beyond. As for strategies, I can’t reveal much before joining the group.”

    A qualified CA, Darshan Mehta began his career with the in 1984. In this long stint, he led the major JVs like that of and in India. In Mehta’s tenure, Arvind made the much-talked-about licensing arrangements with for brands like Lee, Wrangler and , and converting the same into an equity JV. VF now holds 60 per cent stake in the JV, called VF Arvind Brands, which has expanded its portfolio to include brands like and .

    – Ranjan Kaplish