Ananta Capital-owned Springwel Mattresses has named Akshay Saraf as the company’s new chief executive officer (CEO). According to the company, Saraf will be responsible for the overall growth of Springwel, across retail, distribution, and e-commerce channels. He will also drive new product launches across categories such as mattresses, pillows, and other home comfort products, the company added.
Ashutosh Taparia, Founder and Managing Partner, Ananta Capital, said, “I am sure that with his extensive leadership experience and understanding of consumer businesses, Saraf will be a key partner in making Springwel a highly loved sleep-solutions company in India.”
Saraf has nearly 17 years of leadership experience managing multiple brands in the retail and media industry. Prior to his current appointment, Saraf was the vice president of furniture at Nilkamal Limited. He has also spent considerable time at Samsonite South Asia Pvt. Ltd, where his last role he had him as the director of sales. Following that, he has been the head of content and strategy at Digicable Network India Pvt Ltd, among others.
In a strategic move reinforcing its commitment to Madhya Pradesh's economic landscape, Hindustan Coca-Cola Beverages (HCCB), a prominent FMCG player in India, has disclosed a Rs 350 crore investment in the state. This announcement, made during a meeting between the Chief Minister of Madhya Pradesh, Dr. Mohan Yadav, and a senior HCCB delegation, propels the company's cumulative investment in the state to over Rs 660 crore.
The capital injection will fuel the establishment of two cutting-edge manufacturing lines at HCCB's Rajgarh factory, dedicated to producing Affordable Small Sparkling Packs (ASSP) and Juice Tetra Packs. Beyond expanding manufacturing capabilities, this move is poised to make a substantial contribution to the state's economy. With a robust network of 149 distributors and 127,080 retailers, HCCB plays a pivotal role in Madhya Pradesh's retail sector, distributing approximately 10 million cases across 29 districts.
In reciprocation, the Madhya Pradesh Government has committed comprehensive support to expedite HCCB's procurement of necessary permissions, approvals, and clearances, aligning with the state's policies and regulations.
Himanshu Priyadarshi, Chief Public Affairs, Communications, and Sustainability Officer at HCCB, stated, “This investment is a significant step in our journey with Madhya Pradesh - a state that is poised for growth and development. We see this as an opportunity to deepen our commitment and align our growth with the state’s vision. This is more than an expansion of our business operations; it is about reinforcing our roots in a state that is key to our market strategy and a hub for innovation. We envisage this project as a catalyst not only for regional economic growth but also as a conduit for nurturing local talent, thereby contributing to the socio-economic progress of Madhya Pradesh.”
Having invested over Rs 311 crore in Madhya Pradesh since 2000, including recent expansions in 2022 and 2023, HCCB has consistently demonstrated its commitment to enhancing production capabilities and supporting the local economy. This latest financial commitment not only cements its industrial presence in the state but also aligns with HCCB's dedication to delivering innovative and high-quality products to consumers in Madhya Pradesh.
HCCB's engagement in Madhya Pradesh transcends business investments, extending to Corporate Social Responsibility (CSR) initiatives. These projects focus on water rejuvenation, skill development, and sustainable agriculture. Notably, the initiatives have impacted 1200 youths in sales and marketing training, 1500 women in digital and financial literacy, and over 100 farmers in adopting sustainable agricultural practices. Additionally, HCCB has facilitated the installation of water ATMs and Smartboards, contributing to community resources.
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