MAM
ace turtle appoints Pradeep Mukim as chief commercial officer
Mumbai: ace turtle, India’s leading technology-native retail company has announced the appointment of Pradeep Mukim as its chief commercial Officer. In his new role, Pradeep will lead the sourcing function and outlet business, in addition to driving strategic initiatives for ace turtle.
Pradeep brings a wealth of experience and expertise to ace turtle, having spent over thirty-three years in the fashion and apparel industry in India. He has a proven track record of success in building and managing high-performing sales teams, developing winning sales strategies, and forging strategic partnerships. Most recently, Pradeep served as co-founder & CEO at Onip Lifestyle, a startup he founded in the school uniforms segment. He has held several leadership positions, including chief operating officer at Reid & Taylor India, head of International Business Development at Reliance Brands, senior vice president at VF Corporation.
Commenting on the appointment, ace turtle CEO Nitin Chhabra said, “We are excited to welcome Pradeep to the ace turtle leadership team. As a rapidly growing company with ambitious expansion plans for our brands, having Pradeep, a fashion industry veteran and a former entrepreneur aboard is invaluable. His extensive experience, strategic vision, and passion for building customer-centric businesses will be critical as we continue to leverage technology to launch new brands and scale the business of existing brands.”
Expressing his delight, ace turtle chief commercial officer Pradeep Mukim said, “I am deeply impressed by ace turtle’s innovative and technology-driven approach to scaling business of global fashion and lifestyle brands in India. I am excited to partner with the talented team here to accelerate the company’s growth and unlock new avenues for success.”
Since 2023, ace turtle has expanded its leadership team significantly to enable rapid and sustainable growth as it continues to expand its licensed brands portfolio. The company is the exclusive licensee of iconic global denim brands Lee and Wrangler in addition to iconic American toy retail chain Toys“R”Us and Babies“R”Us and California-based casual wear brand Dockers for India and other South Asian markets.
Brands
Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
