MAM
Gini & Jony names Harsh Agarwal as CEO as founder Prakash Lakhani moves to mentor role
MUMBAI: If childhood came stitched in style, Gini & Jony would be its tailor-in-chief. But as the Indian kidswear brand turns 45, it isn’t just sizing up garments—it’s resizing leadership. Suditi Industries Ltd. appointed Harsh Agarwal as the new CEO of Gini & Jony, ending the decades-long tenure of founder & former CEO Prakash Lakhani, who now takes on the role of mentor.
It’s more than a ceremonial baton pass. It’s a calculated pivot toward reinvention in a retail world that won’t sit still. With BSE notification filed and board nod secured, Harsh is taking the reins of a brand that’s dressed generations of Indian children and now wants to clothe an ecosystem.
“Gini & Jony is not just a brand he built — it is his DNA. You cannot separate the two,” Agarwal said. “His legacy will continue to guide us as we build on the foundation he created.”
Agarwal isn’t just stepping into a new role; he’s stepping into a legacy. With a roadmap focused on innovation, expansion, and emotionally resonant branding, his goal is to evolve Gini & Jony from a popular label into the most trusted name in the entire children’s lifestyle segment.
“The needs of India’s children and parents in this space remain largely unmet. There is a significant opportunity to create entirely new experiences. We aim to spearhead this evolution, not just through our products, but through imagination and innovative solutions,” he said.
His plans? Build momentum with agility, bin outdated playbooks, and rethink retail from the ground up. “We are re-evaluating established industry practices, shedding outdated biases, and fostering the development of contemporary retail solutions. The market is rapidly changing, and our goal is to lead that change, not simply react to it.”
Agarwal brings a boots-on-ground management style. No corporate ivory tower here. “During this initial phase, I will be deeply engaged across all aspects of the business – from product development to retail operations, and from technology integration to customer interactions. It’s crucial for me to work alongside the team, establishing rhythm, speed, and alignment. As the business stabilises and our leadership team strengthens, I will gradually shift my focus to broader strategic priorities, including experience design, brand narrative, and long-term innovation.”
He’ll continue to serve in a leadership role at Suditi Industries as it transforms from a manufacturer to a consumer-focused retail powerhouse.
“As we embark on this next chapter, my commitment is clear: we will reimagine childhood through the lens of possibility. With courage, creativity, and care, we will make Gini & Jony the most trusted companion in every child’s story,” Agarwal added.
Lakhani gave his blessing. “Building Gini & Jony over the past four decades has been an incredibly fulfilling journey. I am immensely proud to now pass the leadership to Harsh, who brings both fresh perspectives and a profound respect for the brand’s heritage. I have complete confidence in his ability to lead Gini & Jony into an exciting future characterised by innovation, integrity, and genuine care.”
Suditi Industries CMD Pawan Agarwal weighed in, “At Suditi, we believe that the most successful businesses are built at the intersection of experience and new energy. Harsh embodies this perfect synergy of vision and execution. With the strong foundation we have established and the leadership now in place, I am confident that this marks the beginning of a remarkable new era for Gini & Jony – and for Suditi Industries as a whole.”
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
