Darshan Mehta, president, Arvind Brands – and one of the most prominent names in the industry – has filed in his papers and is set to spearhead the international business of Future Group. Corporate communications of Arvind Mills confirmed the news, which has surprised the entire industry.
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, “Kishore Biyani 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 Lalbhai Group in 1984. In this long stint, he led the major JVs like that of Tommy Hilfiger and Diesel in India. In Mehta’s tenure, Arvind made the much-talked-about licensing arrangements with VF Corp. for brands like Lee, Wrangler and Nautica, 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 Kipling and Jansport.
– Ranjan Kaplish