Aditya Birla Nuvo has appointed Ashish Dikshit as the CEO of – Madura Fashion & Lifestyle, the lifestyle garments business of Aditya Birla Nuvo. Madura Fashion & Lifestyle dominates the premium lifestyle apparel retail through its brands – Louis Philippe, Van Heusen, Allen Solly, Peter England and The Collective.
The company is picking up a controlling stake in Pantaloons fashion. AV Birla Group and Kishore Biyani’s Future Group had earlier this week announced a Rs 1,600-crore deal for AB Nuvo to acquire 50.01% stake in the fashion business of Pantaloon Retail. The deal would help future cut down its debt burden and allows Aditya Birla retail to gain further traction in the fashion retail market.
Madura Fashion & Lifestyle has been one of the highly growth-oriented businesses of Aditya Birla Nuvo and the company is a leading player in the garment segment. It leads the segment in both the premium and international lifestyle categories with Louis Phillippe, Van Heusen and Allen Solly.
Ashish Dikshit will replace Pranab Barua who has been leading the business as of now. Pranab would hence forth move as the business director of apparel and retail divisions at Aditya Birla Nuvo.