Wednesday, June 19, 2024

Parag Milk Foods Appoints Reliance Luxury Lifestyles’ Sumit Jain as President Finance

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Parag Milk Foods Limited, a leading manufacturer and marketer of dairy-FMCG products has announced the appointment of Sumit Jain as President of Finance. With an established presence as a key player in the dairy industry, this strategic move underscores Parag Milk Foods’ dedication to nurturing top-tier talent and fostering the next generation of leaders who will guide the company’s future success.

With an extensive background in financial management and a track record of success, Jain brings a wealth of expertise to the organization. A Chartered Accountant, Jain achieved All India Rank 18 in 2012 and All India Rank 22 in Cost Accountancy in 2013. He was twice recognized as one of India’s top 40 CA’s under the age of 40 by the Institute of Chartered Accountants of India.

Jain’s previous role as Head of Finance at Reliance Luxury Lifestyles (Reliance Brands) provided invaluable experience in leading financial strategies for over 30 luxury brands, including Armani, Jimmy Choo, Coach, Balenciaga, Michael Kors, and Bottega Veneta. He has also worked with Parle Agro, Britannia, and Bauli India Bakes.

In his new role, Jain will play a key role in driving the company towards new heights of financial success. His strategic vision and proven leadership capabilities will be pivotal in shaping the company’s financial strategies and ensuring sustainable growth.

Commenting on the appointment, Devendra Shah said, “We are pleased to welcome Mr. Sumit Jain to our team as President of Finance. His exceptional track record and expertise in financial management will be instrumental in guiding our company towards achieving our strategic goals. We look forward to working together with Mr. Jain to accomplish new milestones and drive continued success for Parag Milk Foods.”

Sumit Jain expressed his enthusiasm for joining Parag Milk Foods, stating, “I am honored to be part of the journey with Parag Milk Foods and excited to contribute to its financial success. I look forward to collaborating with the talented team at Parag Milk Foods and leveraging our collective strengths to achieve our objectives.” 

Established in 1992, Parag Milk Foods Limited, is one of the largest private dairy FMCG Companies in India with a country-wide presence. The company has manufacturing facilities with in-house technology which are strategically located at Manchar in Maharashtra, Palamaner in Andhra Pradesh, and Sonipat in Haryana.

Parag Milk Foods boasts an integrated business model and strong R&D capabilities which has helped it emerge a leader in innovation. Their dairy farm, Bhagyalaxmi Dairy Farm Limited houses more than 2,500 cows, with a mechanised milking process. Under the brand ‘Gowardhan’, the company offers traditional products like Ghee, Dahi, Paneer, etc. They also have a brand called ‘Go’ under which they offer products like Cheese, UHT Milk, Buttermilk, Lassi, Yoghurt etc. 

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