By Vivek K. Mobile: 09920183006 Email:email@example.com
Global PE major, Blackstone Group, has appointed Mr. Dalip Sehgal as Chief Executive Officer ( CEO) of its fully-owned subsidiary, Nexus Malls. Mr. Sehgal joins Nexus Malls from Graviss Group, where he served as Managing Director. He would be responsible for overall operations of all the assets of Nexus and drive expansion across geographies.
Welcoming his appointment Tuhin Parikh, Senior Managing Director, Blackstone said, “We are committed to grow our retail portfolio and bring in the best management talent to provide high quality experience for both our customers and retail partners. Dalip is a seasoned professional with over 35 years of consumer facing experience and I have full confidence in him to scale up our management and portfolio.”
Mr. Sehgal’s rich 38 year experience has seen him spend 25 years with the Anglo-Dutch multinational, Unilever. In his capacity as a member of the Management Committee of Hindustan Unilever — Executive Director, New Ventures — he incubated and launched innovative new businesses such as ‘Pure It’ water purifiers and ‘Project Shakti’ for doubling rural distribution reach using women self-help groups. Mr. Sehgal has also served earlier as Managing Director of Godrej Consumer Products and was instrumental in designing long-term strategic plans for the company, which led to multifold increase in business and profitability.
Mr Dalip Sehgal said, “I am excited to join Nexus Malls and look forward to working closely with the team on their journey of transforming the shopping experience for Indian consumers. In line with global retail trends, we will innovate at every step, reinvent where necessary, and roll out new initiatives to better engage with our audiences.”
Mr. Sehgal is also on the board of several companies, including House of Anita Dongre, Safari Industries (India) and SH Kelkar & Co. among others. Earlier, he was Chairman of the Media Committee of India Society of Advertisers; Member, Joint Industry Body (JIB) for TV advertising measurement; Member, Rural Committee of Assocham; Director – Access Development Services, Care India; and member, FMCG Committee of FICCI.
An investor and mentor to startup companies, Mr Sehgal is an Economics graduate from the University of Delhi and an MBA from the prestigious FMS, Delhi. He is married with a son and daughter.
About Nexus Malls
Nexus Malls is a fully owned subsidiary of world’s leading investment firm Blackstone Group. Through this entity, Blackstone Group marks its foray into India’s retailing sector with an aim to transform the shopping experience of the Indian consumers. The new entity will own and manage shopping centres with a focus on identifying, evaluating, buying and adding value to the assets that they acquire in the country.
Nexus Malls have already acquired and is in the process of completing the transformation for the AlphaOne Malls in Ahmedabad and Amritsar and are also in advanced stages of discussion with several other developers for potential acquisitions in the near future. Nexus also acquired Seawoods Grand Central in Navi Mumbai which is India’s first Transit Oriented Development.
Nexus Malls seeks to implement best practices and state-of-the-art technology in India by bringing in professional and broader mall management in the country. It also aims to aid its retail partners to compete effectively and cater to the omnipresent needs of the consumers in India.