Sanjay Bahl may join Raymond as group CFO

Sanjay Bahl is speculated to join leading Indian textile and apparel company Raymond as group Chief Financial Officer (CFO). He recently put in his papers as group chief financial of Landmark Retail Group, Dubai. Bahl is said to be replacing current Raymond CFO, M Shivkumar.

Bahl, a chartered accountant by profession holds almost two decades of experience, of which 14 years with Hindustan Unilever in FMCG businesses such as tea, Kissan Foods, oils and fats, and fertilizers. He also worked for over five years with French conglomerate Saint Gobain as CFO and director-finance.

Of late, Raymond is shifting its energies to refurbish its stores, while investing in marketing and advertising initiatives to drive margins and woo the young audience. The company’s focus on ‘Made to Measure’ personalised clothing stores are also expected to contribute positively to the company’s bottomline in future. Though costs on these new initiatives may pressure margins in this segment in the short term, according to the analysts, improved performance could boost sales and profitability in the long-term.