Comments
After nearly three years, Subhinder Singh Prem, former Managing Director of Reebok India, has resurfaced as a consultant for Future Group’s private label – Spunk. Reebok had been rocked by a ₹870-crore scam in 2012 where the former MD had been arrested on charges of siphoning funds .
He is currently out on bail and the case against him is still open.
Recently, there was a trade show in Mumbai to launch Spunk’s spring summer collection where Subhinder Singh Prem was introduced as a ‘brand expert’.
Prem is a management graduate from IMT Ghaziabad and has also worked in footwear companies such as Phoenix Shoes in the past. Industry observers suggest that Prem’s jail term may not be over, but he is free to work as an advisor in any private company when out on bail.
Kishore Biyani, Chairman, Future Group, said, Subhinder Prem understands the footwear business and will be helping in developing our private brand, Spunk, as a consultant. “He is advising us but not employed by us.” Future Brands has developed and created the Spunk brand and licensed it to the listed company Future Lifestyle Fashion within the group. Spunk is one of the brands under Future Lifestyle Fashion and has recently roped in Saif Ali Khan as a brand ambassador.
Santosh Desai, MD & CEO, Future Brands, said, “Subhinder Prem will be involved in developing the product range and also help in sourcing for Spunk. We are refurbishing the brand after creating it nearly four years ago and have licensed it to Future Lifestyle Fashion which has appointed Prem as an advisor for the brand.’’
Apart from Spunk, Future Brands has been creating a host of private labels such as John Miller, Hey, Prima Diva, Lombard and Tasty Treat in the food and non-food categories for the Future Group.
“We have created 23 brands for the Future Group and some like John Miller has also been taken outside the group. In the case of Spunk, there are plans to retail it outside the Future Group’s outlets and there would be exclusive stores set up for the lifestyle brand,’’ added Desai. Spunk is a ₹250-crore brand in Future Lifestyle’s portfolio with footwear, apparel and accessories under it.
Subhinder Prem is also expected to help the Future Group bring in more international brands with his overseas connections while at Reebok, say industry experts.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.