MAM
Fashion veteran Sumit Dhingra steps into Bestseller India’s top shoes
MUMBAI: Bestseller India has tapped Sumit Dhingra as its new country director, poaching the fashion veteran from footwear phenomenon Crocs where he most recently headed operations across India, southeast Asia, the Middle East, and Africa.
Dhingra brings over two decades of fashion and lifestyle industry expertise to the Danish clothing company, with a CV that reads like a who’s who of retail powerhouses. His appointment signals Bestseller’s determination to put its best foot forward in the burgeoning Indian market.
Before making waves at Crocs, Dhingra cut his teeth at several fashion heavyweights, including a near-decade stint at Arvind Fashions Ltd where he served as senior vice president and chief executive for Arrow, Izod and Aéropostale. He previously held leadership positions at United Colors of Benetton India and Aditya Birla Fashion and Retail.
Bestseller chief executive Anders Holch Povlsen highlighted India’s strategic importance to the company’s global ambitions and welcomed Sumit to the company.
Dhingra appears ready to hit the ground running, with plans to expand Bestseller’s market presence, jazz up the customer experience, and drive sustainable growth in what industry insiders describe as a “transformative phase” for the company’s Indian operations.
With brands like Jack & Jones, Vero Moda, and Only in its portfolio, Bestseller will be banking on Dhingra’s proven track record of brand building and retail expansion to stitch up a larger share of India’s fashion market. Fashion watchers will be keen to see if he can work the same magic that made Crocs’ distinctive footwear impossible to dodge on Indian streets.
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.
