Brands
Jaipur Rugs rolls iconic Shyam Ahuja brand within its fold
MUMBAI: It’s laying it on pretty thick. Handmade luxury carpets maker Jaipur Rugs has bought over the iconic Shyam Ahuja brand in a move to revive its legacy as a global luxury name. This acquisition includes Shyam Ahuja’s personal collection and design archive, marking a strategic step for Jaipur Rugs to expand its influence in the premium rug market. Details of the transaction are not available, but estimates are that the value is in double digit crore.
Founded in 1963, Shyam Ahuja revolutionised Indian dhurries, introducing the flatwoven rugs to international markets and earning acclaim among A-list designers and global icons like Jacqueline Kennedy-Onassis and Gianni Versace. Known for its timeless designs, superior craftsmanship, and sophisticated use of colour, the brand became synonymous with understated elegance and quiet luxury. The brand was a big spender in print, especially publications, which reached out to the diaspora or international travellers. Many of the inflight magazines were their preferred partners.
Jaipur Rugs intends to honour the original vision of Shyam Ahuja while elevating its status on the global stage, according to its director Yogesh Chaudhary. Both Jaipur Rugs and Shyam Ahuja share a commitment to empowering artisans.
Founded in 1978 by Nand Kishore Chaudhary, who has even been labelled as the Gandhi of the carpet industry, Jaipur Rugs is India’s largest handmade carpet manufacturer, with over 40,000 artisans across 650 villages, 85 per cent of whom are women. The company operates in 85 countries and has expanded to international showrooms in Milan, London, Singapore, and Dubai.
Jaipur Rugs artistic director Greg Foster called the acquisition “a sleeping beauty we intend to revive with great respect,” citing the immense design archive and the brand’s cult status among collectors.
The company plans to operate Shyam Ahuja as an independent entity with a distinct supply chain while continuing its retail presence through showrooms in India and globally. Further plans for the brand’s revival will be unveiled soon, promising to re-establish Shyam Ahuja’s position as a pioneer in luxury rugs.
(Picture source: Jaipur Rugs website)
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
