MAM
Nasher Miles appoints Anil Verma as chief strategy officer
Mumbai: Nasher Miles, the premium luggage brand known for its vibrant and stylish designs, is thrilled to announce the appointment of industry veteran Anil Verma as chief strategy officer, effective immediately. This strategic move strengthens Nasher Miles’ position following their recent triumph on Shark Tank India.
Prior to joining Nasher Miles, Anil held key leadership positions in various multinational companies like Purplle.com, Samsonite, and Delsey Paris. Throughout his distinguished career, he has consistently demonstrated exceptional leadership qualities and a collaborative approach. His commitment to fostering a culture of innovation and excellence aligns perfectly with Nasher Miles’ vision. Having established itself as a top brand in the online marketplaces, Nasher Miles is now poised to test the waters of the offline market. Anil’s extensive experience will be instrumental in leading this expansion strategy. In his role, he will guide the brand’s foray into brick-and-mortar retail, ensuring a seamless customer experience across all touchpoints.
In his role as chief strategy officer, Anil will oversee the company’s overall strategic direction, encompassing product development, finance, and operations. This holistic approach will ensure Nasher Miles remains agile and adaptable in the ever-evolving business landscape. By focusing on innovative product design, financial discipline, and operational excellence, Anil will contribute to Nasher Miles’ long-term growth trajectory.
Fresh off their remarkable feat of securing an All-Shark Deal on Shark Tank India Season 3, Nasher Miles is poised for significant growth. Anil Verma’s deep understanding of global markets within the luggage sector, and the e-commerce ecosystem will be instrumental in driving this growth and capitalizing on emerging opportunities. He will play a pivotal role in shaping the company’s long-term vision and ensuring Nasher Miles remains agile and adaptable in the ever-evolving business landscape.
Nasher Miles founder & chairman Abhishek Daga said, “We are delighted to welcome Anil Verma to the Nasher Miles leadership team. His strategic expertise and proven ability to navigate complex challenges, particularly within the luggage industry, will be invaluable as we build upon the momentum generated by our appearance on Shark Tank India. We are confident that Anil’s leadership will propel Nasher Miles to new heights.”
Nasher Miles’ CTO Anil Verma said, “I am incredibly excited to join Nasher Miles at this pivotal moment in the brand’s journey. The company’s commitment to innovation and its impressive success on Shark Tank India demonstrate tremendous potential for growth. I am confident that my experience can help Nasher Miles capitalize on emerging opportunities and achieve its long-term vision. I look forward to collaborating with the talented Nasher Miles team to propel the brand to even greater heights.”
Anil Verma’s passion for driving meaningful change, coupled with his strategic vision and deep industry expertise, makes him an invaluable asset to the Nasher Miles team. Nasher Miles’ journey from bootstrapping with zero external funding for six years to securing an All-Shark Deal on Shark Tank India is a testament to the brand’s resilience, vision, and commitment to excellence. This historic achievement not only validates Nasher Miles’ unique value proposition but also showcases the confidence that the esteemed Shark Tank India judges have in the brand’s potential for future success.
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
