Bicycle brand Ninety One, owned and operated by AlphaVector India, on Monday appointed Bhairav Shah as the Chief Operating Officer (COO).
The appointment comes at a time when Ninety One is expanding its operations, investing in manufacturing facilities and speeding up its entry into overseas markets.
Shah will handle the company’s financial function and also lead its expansion into the Middle East, Europe, and the US.
He will also play a role in the implementation of the Ninety One’s growth objectives, the company said in a statement.
Shah is a Chartered Accountant with over 15 years of experience in private equity and consulting.
He had graduated from the Indian School of Business. Before joining Ninety One, he worked at Bain & Company and Everstone Capital as a senior executive.
Shah began his career as an investor at Warburg Pincus, the statement said.
“India is seeing a structural shift towards sustainable mobility and Ninety One is at the forefront of that transformation. Ninety One has an unrelenting focus on product quality and customer service besides having stunning designs. I am excited to take on this role with Ninety One and work closely with Sachin and Vishal to steer the company into its next phase of growth,” said Bhairav Shah, COO of Ninety One Cycles.
Ninety One, founded in 2015 by Sachin Chopra and Vishal Chopra, the company claims to sell more than 20,000 bicycles a month and said that the brand has over 1,000 retail points in more than 500 cities.
“We believe his experience of fifteen years and passion for mobility space will be instrumental for Ninety One to meet its growth plans. We share the common vision of bringing in a revolution in one of India’s oldest mobility medium – cycles, with an innovative, research and engineering-led approach,” Chopra said.
In December, Ninety One raised $30 million (Rs 225 crore) in its Series A funding round from A91 Partners LLP, Fireside Ventures, Avaana Capital and Titan Capital, valuing the company at over Rs 1,000 crore ($132 million).
