Aditya Birla Fashion and Retail (ABFRL) inducted Kumar Mangalam Birla’s daughter Ananya Birla and son Aryaman Vikram Birla as directors on its board, saying it will benefit from their new-age insights and business acumen.
“Ananya and Aryaman’s exceptional individual achievements in their chosen fields and early success with their independent entrepreneurial ventures set them up well for larger responsibilities. Their nuanced understanding of new-age business models and emerging shifts in consumer behaviour will infuse fresh energy to the board of ABFRL,” Kumar Mangalam Birla, chairman at Aditya Birla Group, said.
Ananya’s first company, Svatantra Microfin, founded at the age of 17, is among India’s fastest growing microfinance institutions and has crossed an AUM of $1 billion, a statement said. The 28-year old is also the founder of design-led home decor brand Ikai Asai and has co-founded, which advocates the need for conversations around mental health in India. She is also a singer and a platinum selling artist.
25-year-old Aryaman is involved with several businesses of the Aditya Birla Group and is part of the group’s entry into new-age businesses. He helped incubate the group’s D2C platform, TMRW, and is a director on its board. His maiden entrepreneurial foray was in the hospitality business with the members-only private club called Jolie’s. He also spearheaded the group’s venture capital fund, Aditya Birla Ventures. Prior to joining ABG, Aryaman was a first-class cricketer.
“Ananya and Aryaman are firmly rooted in the group’s values and passionately believe in the group’s purpose. I am confident that they will build on the group’s rich entrepreneurial traditions and successful track record in creating sustained stakeholder value,” added Birla in a statement.
ABFRL, which sells clothes and accessories from Louis Philippe, Van Heusen, Allen Solly and Peter England covers all major segments of the Indian apparel market. In the last few years, the company has entered multiple new emerging segments such as ethnicwear- including partnerships with Indian designers, luxury, sportswear and new age businesses through its digital venture.