Big Moves: Nothing, Modenik

Nothing appoints Vishal Bhola as President of India Business

London-based consumer tech brand Nothing has appointed Vishal Bhola as President for Nothing India. With an extensive career spanning over 28 years in global business leadership, Vishal Bhola brings a wealth of experience from prominent multinational corporations including Unilever and Whirlpool.

In his new role at Nothing, he will play a pivotal role in accelerating Nothing's growth trajectory in India, leveraging his extensive expertise in consumer tech and strategic business management. His appointment underscores Nothing's commitment to expanding its presence and offerings within the Indian market.

Carl Pei, CEO and Co-founder at Nothing comments, “Vishal's vast experience and leadership in the global consumer goods industry make him a valuable addition to our team. We are excited to welcome him aboard and look forward to his contributions as we continue to innovate and redefine the tech landscape.”

Bhola also states, “I am thrilled to be part of Nothing's journey. The company's iconic products and inspiring vision to make tech fun again resonate with me. I am eager to contribute to Nothing's next phase of growth and innovation.”

Bhola's journey includes over two decades at Unilever, where he held various key positions starting in India and expanding across Southeast Asia, the USA, Africa, China, and the global headquarters in London. After his tenure at Unilever, he joined Whirlpool as Managing Director, responsible for driving profitability and growth across the Indian subcontinent for Whirlpool Corporation.

Modenik' Sunil Sethi retires; L.V. Vaidyanathan takes over as Executive Chairman

Modenik Lifestyle has reported the retirement of Sunil Sethi from his role as Executive Chairman, effective July 31, 2024. L.V. Vaidyanathan, former CEO & MD of P&G India, will take over as Executive Chairman in July 2024. Sethi will continue to serve on the Board of Directors, providing his invaluable guidance to the team. This marks a significant milestone as Modenik continues to drive innovation and growth in the industry.

During his tenure, Sethi made numerous impactful contributions to Modenik Lifestyle. He successfully integrated Modenik as a unified company across Dixcy and Enamor, with a shared purpose, vision, and values, creating a unique strategic asset with a leading position in both men's and women's innerwear. 

Vaidyanathan, an alumnus of IIM Ahmedabad, began his career with P&G. With over 25 years of experience across multiple markets, including India, Vietnam, Thailand, Philippines, Indonesia and Singapore. He has served as CEO & MD for P&G in Indonesia and subsequently in India. He has led both these businesses to industry-leading growth and value creation.

“My tenure at Modenik Lifestyle has been immensely rewarding. As I embark upon my new journey focused on strategic/advisory roles and entrepreneurial ventures that give back to the community, it is with great confidence that I pass the baton to L.V. Vaidyanathan, whose extensive expertise and vision will propel Modenik to new heights. I am excited to welcome him and look forward to the continued growth and success of the company under his leadership. I am proud of seeing through Shekhar Tewari’s journey to take on the role of Chief Executive Officer for the company,” says Sethi.

“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,” shares Sahil Dalal, Managing Director at Advent India PE Advisors.

Vaidynathan also comments, "I am thrilled to join Modenik Lifestyle, a company celebrated for its innovation and leadership in the essential wear industry. Sunil Sethi’s outstanding contributions have established a robust foundation. I am eager to collaborate with Shekhar Tewari and Modenik’s talented team to drive growth and achieve new milestones.”

Shantanu Khosla, Board Member, Modenik Lifestyle mentions, “I want to extend my heartfelt gratitude to Sunil Sethi for his invaluable contributions to Modenik Lifestyle, which have laid a robust foundation for our continued success. As LV transitions from his successful tenure at P&G to join Modenik, it reflects a broader trend of multinational CEOs moving to private equity-backed companies in India, drawn by the opportunity to drive rapid growth and create substantial value. His decision to join us underscores his confidence in our vision and commitment to advancing our growth trajectory. Additionally, the elevation of Shekhar Tewari to CEO further strengthens our management team, and I am excited to see the innovations and successes that this new leadership will bring."