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    New CEO for Aditya Birla group’s retail venture

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    The appointed Thomas Varghese as the new chief executive officer (CEO) of , replacing , who will move out after spending six-and-a-half years with the group. Thomas Varghese is currently senior executive president and head of Grasim’s pulp division.

    Aditya Birla Fashion and Retail Limited has recently announced that it has completed the acquisition of the Indian business of US fashion brand, Forever 21, for more than Rs 175 crores (USD 26 million).
    Aditya Birla Fashion and Retail Limited has recently announced that it has completed the acquisition of the Indian business of US fashion brand, Forever 21, for more than Rs 175 crores (USD 26 million).

    Sinha confirmed media that he’s got another challenging opportunity outside the group.

    Under Sinha’s leadership, Aditya Birla Retail built its presence through an aggressive expansion spree in southern India that included acquisition of the retail chain that gave it access to over 500,000 square feet of retail space, through 170 stores.

    Group chairman has plans to spend nearly Rs 8,000 crore to Rs 9,000 crore for the retail business. The group already has expertise in apparel retail through group company , which owns and markets brands such as , , and .