Brands
GoaFest 2025: Brands swipe right on GenZ – Spotify, Nivea and Saregama decode the next big consumer wave
MUMBAI: At Goafest 2025, the panel titled ‘Swipe Right for Relevance: Building Brands Gen Z Cares About’ brought together three brand leaders and one big question: How do brands win over a generation raised on infinite scrolls, sceptical of polished campaigns, and loyal only to authenticity?
Moderated by journalist and producer Anuradha SenGupta, the panel featured Spotify India MD Amarjit Singh Batra, Nivea India MD Geetika Mehta, and Saregama India MD Vikram Mehra. Together, they delivered a candid crash course in decoding India’s most attention-deficit yet value-driven demographic.
Batra opened by stating the obvious: Gen Z isn’t just part of Spotify’s strategy—they are the strategy. Over 50 per cent of Spotify’s listeners in India are under 25. “They’re not just listeners, they’re the creators, the curators, the interns, and our future employees,” he said. Spotify’s recent early career postings attracted 3,000 applicants in a few hours—a sign of cultural stickiness few brands can claim.
Mehta called Gen Z “discerning, not distracted,” adding, “If you give them something of value, they’ll stay longer than six seconds. If you don’t, they’ll scroll faster than your media spend”. For Nivea, that has meant rethinking everything from product development to influencer selection. She admitted, “We never imagined handing the brand to 500 micro-influencers. It’s scary. But it works. We’ve learned to let go.”
Mehra brought the data to the drama. “Eighty percent of Saregama’s digital engagement comes from Gen Z,” he revealed. But he didn’t stop there. At Saregama, anyone over 30 is officially banned from making music selection decisions. “Every song I pick flops,” he joked. “So we gave the reins to people who are the audience.”
The panel underscored several hard truths: celebrities don’t sell to Gen Z anymore; authenticity beats aspiration; brand values must go beyond the packaging; and content must be real, not rehearsed. “We don’t just test ads,” said Mehta. “We test brand values—and Gen Z fact-checks.”
Social listening emerged as a key tool. Batra said, “What Gen Z memes or shares tells us more than any focus group. But attention is expensive—you have to earn it.” Mehra warned against boardroom-led branding, urging top management to “let go” and hand creative control to younger teams.
As the session closed, panellists shared their Gen Z frustrations. Mehra struggled with their work-life boundaries (“They don’t answer calls after 7 pm”). Mehra cited their need for constant senior engagement. Mehra found it tough to keep up with their multitasking and content standards. “You really have to wow them—just being good isn’t good enough.”
Gen Z may be the toughest audience yet—but they’re also the most rewarding. And as Goafest day one showed, brands that don’t speak their language may soon be left un-sampled and unused.
(Pictured above: From left to right – Amarjit Singh Batra, Anuradha SenGupta, Geetika Mehta & Vikram Mehra.)
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.
