Zacharias jumps into IT bandwagon-Quits Coats to join Satyam Infoway
Boby Kurian -The Hindu BusinessLine
BANGALORE, Feb. 8
THE dot.com bug has now caught up with the garment sector. Mr. George Zacharias, who had the plum posting at Coats Plc, UK, after the sale of Madura Garments, has preferred to look the 'infoway'.
Mr. Zacharias will be joining Satyam Infoway as President and Chief Operating Officer (COO) with effect from March 1. He will be based in Chennai and will be in-charge of Satyam online access and content business.
Mr. Zacharias' decision to join Satyam Infoway has surprised many in the corporate sector, especially after his two-decade old stint with textile major Madura Coats.
"I decided to join Satyam Infoway because I thought it was the right time to take a break in life to join a very happening line," Mr. Zacharias told Business Line when asked about his new move.
"Of course, Coats Plc was keen about me joining them," he added. In his new job, Mr. Zacharias will be reporting to Mr. R. Ramraj, CEO, Satyam Infoway.
He was the President of Madura Garments when Coats decided on a Rs. 236-crore sale of the garment business to the A.V. Birla group managed Indian Rayons in December last year. Mr. Zacharias was due to join the parent company Coats Plc in the UK heading its overseas business operations, despite the transaction involving Madura Garments as a going concern.
Mr. Zacharias joined Madura Coats in January 1984 and was shifted to Madura Garments as its President in 1996. He steered Madura's garment business during turbulent times, especially after the exodus of Mr. Sriram Srinivasan and eight other high-profile industry experts to float Indus League.
With competition hotting up and prospects of a slowdown in market growth looming large, Mr. Zacharias attempted providing fresh marketing impetus to most of the Madura brands _ Louis Philippe, Van Heusen, Allen Solly and Peter England.
In fact, Madura succeeded in making Peter England, with over 2 million pieces, the largest selling shirt brand in the country. He presided over the introduction of San Frisco trousers last fiscal and also put out TVCs of all Madura brands, except Louis Philippe, on air this year.
Madura Garments is expected to close this fiscal at Rs. 250 crores, up from Rs. 236 crores last year. Industry analysts, who have predicted a saturation mark for some of the decade-old Madura brands, have projected the turnover to touch Rs. 275 crores in 2000-2001.
Meanwhile, Indian Rayons has delayed the selection of new Madura Garments' President, which is now expected in March. The new President will report to Mr. Vikram Rao, Group Executive President, Fabric and Apparel Business, Indian Rayons.
Madura Garments has also decided to hold back its new introductions _ Allen Solly Outdoors, San Frisco Wrinkle Free and three new ranges of Van Heusen _ for the time being. Van Heusen's three new USP ranges are expected to deliver a renewed market push for Madura's oldest premium formal wear. |
