KKR & Co-backed Vini Cosmetics, the maker of Fogg body spray, has appointed PepsiCo India’s vice president, Vishal Kaul, as its chief executive officer, the company said in a statement on Wednesday.
Kaul, who will be taking charge of Vini Cosmetics from February next year, will be responsible for the company’s growth plans and look into launching new products and categories, the company said. Kaul will be working closely with Vini Cosmetic’s board of directors.
Kaul will also lead routine activities and execute the company’s long-term strategy, Vini Cosmetics said. The company is looking to expand its e-commerce platform and broaden its sales and distribution network, and Kaul will be at the helm of it, it said. Kaul will be assisted by Vini Cosmetic’s co-founders, the company said, by providing him strategic support and giving him access to KKR’s global network to Kaul.
“Appointing a consumer-centric and digitally savvy CEO of Vishal’s caliber who can lead Vini into its next phase of growth was one of our and KKR’s top priorities,” said Darshan Patel, chairman, Vini Cosmetics.
Kaul holds an MBA degree in Marketing from the Symbiosis Centre for Management and Human Resource Development, and an engineering degree from Punjab Engineering College. He has more than 20 years of experience in global brand management. At PepsiCo India, Kaul was vice president and the business head for the beverages business in India, Bangladesh, Sri Lanka, Nepal, and Bhutan.
“.. (I) look forward to delivering high-quality, differentiated personal care and beauty products to our consumers globally,” said Kaul. “Increasingly consumers are looking for lifestyle upgrades, quality products, and services. I am confident that we at Vini will continue to innovate and provide a consumer-centric portfolio which will serve the current and evolving needs of our consumers,” he added.
Vini Cosmetics, founded in 2010 by Darshan Patel and Dipam Patel, is a personal care and beauty products company in India. The company manufactures and distributes deodorants, cosmetics, and toiletries through its flagship brand Fogg and other brands such as OSSUM and GlamUp. The company claims that it has sold its products in as many as 55 countries and claims to have a strong presence in the Middle East and South Asia. Vini Cosmetics has over 700,000 points of sale and 3,000 dealers, it said.
In June earlier this year, KKR had signed a definitive agreement to acquire a controlling stake in personal care and beauty products firm Vini Cosmetics for Rs 4,600 crore ($625 million). KKR had bought stake from Sequoia Capital and a part from Darshan Patel and Dipam Patel, who continue to hold a stake in the company.