Cantabil appoints new CFO

Thursday, 04 August 2011

Abani Kant Jha has been appointed the new Chief Financial Officer of Cantabil. He replaces Sunil Chopra. Jha has demonstrated professional excellence in controlling cost. He has expertise in developing finance and accounting strategy to achieve company targets and has a track record of achieving corporate goals. He has audited companies like Airtel, Yamaha, Berger Paints, LG etc. Last month New Delhi-based apparel retailer Cantabil Retail started a restructuring exercise that included shutting down non-profitable outlets, slower expansion and gradually doing away with its sales strategy of offering 80 per cent flat discount throughout the year.

Cantabil is retailed as a premium brand and attracts fashion savvy people between the 18 to 45 age group all over the country. The company has shut more than 150 loss-making stores of its casual men’s wear brand Lafanso, and now operates about only 45 stores of the brand. The company no more cuts down inventory by selling at heavy discounts. Cantabil also has a new Company Secretary and Compliance Officer Rekha Grover.