Stove Kraft Pvt. Ltd, a kitchen appliances firm, has appointed a new chief executive officer as it seeks to increase its growth in the cookware and appliance market, the company said in a statement.
Bengaluru-based Stove Kraft has hired Rajiv Mehta, a former managing director of athletic brand Puma and CEO of Arvind Fashion Brands Ltd and Arvind Sports Lifestyle Ltd, to lead the company.
Mehta will be responsible for driving growth and enhance company’s product presence and brand equity, the statement added. Prior to his appointment, Mehta was functioning as a board member and independent director at Stove Kraft since June last year, according to his LinkedIn profile.
Rajendra Gandhi, chairman and managing director at Stove Kraft, said Mehta’s capability to empower teams and scale up businesses would help the company with its positioning and growth.
“He is well-acquainted with the working culture of large global brands, which puts him at the right position to take charge of reinforcing Stove Kraft’s position as the market leader in the FMCD [fast-moving consumer durables] segment,” Gandhi said.
Separately, Mehta said he would try to turn the Stove Kraft into a household name for cookware and related appliances.
An alumnus of University of Pennsylvania and Insead, Mehta is also a founder and director at KAN DFY Sports Pvt. Ltd, and was also an investor member of the Indian Angel Network.
Stove Kraft, which was launched in 1999, primarily offers hobs, cooktops, non-stick cookware, LPG gas stoves, chimneys and induction cooktops under Pigeon and Gilma brands.
In December 2017, it was reported that the Sequoia-backed company was planning for an initial public offering, and that it had appointed investment banks Edelweiss and JM Financial to manage the exercise. Sequoia, which put in Rs 110 crore in two tranches in the company, was expected to record a significant return through a partial exit in the IPO.
