Former P&G India chief L. V Vaidyanathan joins Modenik Lifestyle as Executive Chairman

Modenik Lifestyle, a leading player in the essential wear industry, has made a significant announcement with the appointment of L.V. Vaidyanathan as its new Executive Chairman. Vaidyanathan, a seasoned professional with over 25 years of experience, is set to take on this role starting July. His appointment comes as Sunil Sethi, the current Executive Chairman, is set to retire on July 31.

Vaidyanathan, who previously served as the MD and CEO of P&G India, brings a wealth of knowledge and expertise to Modenik Lifestyle. His extensive experience in multiple markets, including India, Vietnam, Thailand, Philippines, Indonesia, and Singapore, positions him as a valuable asset to the company.

In a statement released by the company, the board expressed confidence in the leadership changes, highlighting a new chapter for Modenik Lifestyle focused on innovation, excellence, and sustainable growth. The board also acknowledged Sethi’s contributions to the organization and confirmed his continued presence on the Board of Directors.

Sahil Dalal, Managing Director at Advent India PE Advisors, praised Sethi for his role in building Modenik into a high-quality organization and expressed excitement for the future under Vaidyanathan’s leadership. Dalal emphasized Vaidyanathan’s forward-thinking approach and expected impact on Modenik’s market position and strategic objectives.

Vaidyanathan himself expressed enthusiasm about joining Modenik Lifestyle, recognizing the company’s reputation for innovation and leadership in the essential wear industry. He commended Sethi for establishing a solid foundation and expressed eagerness to collaborate with the existing team to drive growth and achieve new milestones.

The appointment of Vaidyanathan as Executive Chairman also reflects a broader trend of multinational CEOs transitioning to private equity-backed companies in India. Shantanu Khosla, a Board Member at Modenik Lifestyle, highlighted the strategic move and its alignment with the company’s vision for rapid growth and value creation.

Moreover, the elevation of Shekhar Tewari to the position of CEO further strengthens the management team at Modenik Lifestyle. Khosla expressed excitement about the potential for innovation and success under the new leadership structure, emphasizing the collective expertise and vision driving the company forward.

The news of Vaidyanathan’s appointment has generated significant interest within the industry, with stakeholders anticipating the impact of his leadership on Modenik Lifestyle’s future trajectory. The company’s essential wear brands, including Dixcy Scott and Enamor, are well-known for their quality and innovation, making them key players in the market.

As Modenik Lifestyle prepares for this leadership transition, the focus remains on driving growth, enhancing market position, and achieving strategic objectives. With Vaidyanathan at the helm and a strong team in place, the company is poised to continue its success story in the essential wear industry.

Overall, the appointment of L.V. Vaidyanathan as Executive Chairman marks a significant milestone for Modenik Lifestyle, signaling a new phase of growth and innovation under his leadership. Stakeholders are optimistic about the company’s future prospects and eagerly await the developments that will unfold in the coming months.