Fashion designer Anita Dongre-promoted AND Designs India Ltd (ADIL) has appointed Milind Sarwate, former Marico Group CFO, as an independent director of the company, according to a press release.
Sarwate, who had resigned from Marico a year ago, has more than three decades of experience in finance, HR, strategic planning and business development.
At Marico, 55-year-old Sarwate has held various roles like CFO, CHRO and member of group executive committee besides playing a role in corporate structuring, talent management, corporate branding and social responsibility, among others.
Started his career with pharma company Sanofi Aventis, Sarwate—a chartered accountant and company secretary—has also worked with Godrej Consumer and Eternis Fine Chemicals, among other firms.
“We are excited to have Milind on board. He brings nearly three decades of experience which will be invaluable to us in building our business in India and globally,” said Mukesh Sawlani, co-founder and MD, ADIL.
“It will be a pleasure to work with the ADIL team and facilitate growth and value creation for all stakeholders,” Sarwate said.
Established in 1995, AND Designs India was founded by Anita Dongre, Meena Sehra and Mukesh Sawlani. It retails apparels under three brands names—And, Anita Dongre and Global Desi.
The firm has 154 company-owned stores and over 500 multi-brand large format stores in 59 cities. Recently, it entered Mauritius with four stores across the three brands.
Last October, AND Designs appointed Ganesh Babu as chief financial officer (CFO) and Monica Bhandari as chief human resources officer (CHRO).
In 2013, Future Lifestyle Fashions Ltd, a part of Kishore Biyani-led Future Group, struck an agreement to sell its 22.86 per cent stake in ADIL. It had not disclosed the name of the buyer but as reported by VCCircle, it is believed to be global PE firm General Atlantic.
(Edited by Joby Puthuparampil Johnson)