Vaidyanathan is an alumnus of IIM Ahmedabad, who served as CEO and MD of P&G
New Delhi: Essential wear company Modenik Lifestyle Pvt. Ltd. has announced the appointment of L.V. Vaidyanathan as the company new executive chairman, the company said in a press release on Tuesday.
Vaidyanathan is elevated to the role as Sunil Sethi is retiring as executive chairman in July but he will continue to serve as the Board of Director. Vaidyanathan will commence his role w.e.f. July 2024.
“We thank Sunil, whose leadership has built Modenik into a high-quality organisation today, with robust systems and processes. We are excited for the next phase of Modenik’s journey, and we believe L.V. Vaidyanathan’s vast expertise and forward-thinking approach will elevate Modenik to a market leading position,” said Sahil Dalal, Managing Director, Advent India PE Advisors.
Vaidyanathan is an alumnus of IIM Ahmedabad, who served as CEO and MD of P&G Indonesia and subsequently in India. He has an experience of 25 years across multiple markets including India, Vietnam, Thailand, Philippines, Indonesia and Singapore.
“I am thrilled to join Modenik Lifestyle, a company celebrated for its innovation and leadership in the essential wear industry. I am eager to collaborate with Shekhar Tewari and Modenik’s talented team to drive growth and achieve new milestones ” said Vaidynathan.
Modenik Lifestyle Pvt. Ltd. is the post-merger entity of Advent International’s portfolio companies Dixcy Textiles Pvt. Ltd and Gokaldas Intimatewear Pvt. Ltd, the parent company of brand Enamor. The company is headquartered out of Bengaluru.It offers fashionable essential clothing for all ages, income classes and genders Modenik has a portfolio of 5 sub-brands: Dixcy Scott Originals, Dixcy Scott Maximus, Josh by Dixcy Scott, Slimz and Enamor. It also has an exclusive licensing agreement with Levi’s to manufacture and distribute innerwear in India.
