Appoinment
KISNA Appoints Rajeev Toshniwal as Chief Financial Officer as Brand Scales Retail Presence Across Bharat
KISNA Diamond and Gold Jewellery, the flagship brand of the Hari Krishna Group, has announced the appointment of Rajeev Toshniwal as Chief Financial Officer (CFO), strengthening its leadership team at a time when the brand is accelerating retail expansion and deepening its omnichannel presence across India.
In his role, Toshniwal will oversee KISNA’s finance, strategy, compliance and governance functions, working closely with the leadership team to support disciplined growth, enhance operational efficiencies, and strengthen financial systems as the brand continues to scale nationally.
Toshniwal brings over two decades of experience across retail, FMCG and apparel businesses. A Chartered Accountant and Company Secretary, he has held senior finance leadership roles across organisations including Noble Group SA, Think9 Consumer, Raymond Limited and the Future Group, with extensive experience in managing large, multi-location retail networks, improving store-level profitability, and strengthening governance frameworks.
The appointment comes as KISNA continues to expand its footprint through an asset-light retail model, with strong momentum across franchise and shop-in-shop formats, particularly in Tier 2, Tier 3 and emerging markets. The brand has also strengthened its omnichannel capabilities, integrating digital discovery with offline inventory and fulfillment to drive assisted commerce and improve store-level conversions. Alongside expansion, KISNA remains focused on design-led innovation, accessible diamond jewellery, and transparent customer policies that reinforce long-term trust.
Commenting on the appointment, Ghanshyam Dholakia, Founder & Managing Director, Hari Krishna Group and KISNA Diamond and Gold Jewellery, said, “As KISNA continues to scale its retail presence across the country, building a strong and experienced leadership team is critical. Toshniwal’s deep understanding of retail finance and governance will add significant strength to our leadership bench and support the brand’s long-term growth vision.”
Parag Shah, CEO, KISNA Diamond and Gold Jewellery, added, “KISNA is at an important inflection point, with rapid expansion across Bharat and increasing demand for accessible, design-led diamond jewellery. Toshniwal’s appointment strengthens our leadership team and will help sharpen financial discipline, execution and scalability as we grow.”
Commenting on his appointment, Rajeev Toshniwal, Chief Financial Officer, KISNA Diamond and Gold Jewellery, said, “KISNA has built a strong foundation rooted in trust, accessibility and design. I look forward to working closely with the leadership team to strengthen financial systems, support profitable growth and enable the brand’s next phase of expansion across India.”
Appoinment
De Beers Names Mallikarjuna Reddy Yarabolu as MD of Forevermark India
Appointment signals accelerated retail expansion as India emerges as a key growth market for natural diamond jewellery
De Beers Group has appointed Mallikarjuna Reddy Yarabolu as Managing Director of Forevermark India, effective January 2026, reinforcing its strategy to expand the brand’s footprint in one of the world’s fastest-growing natural diamond jewellery markets.
Mallikarjuna brings over 20 years of leadership experience spanning fashion, luxury, FMCG and organised retail. He most recently served as Chief Revenue Officer at Arvind Fashions Limited, where he drove sales and revenue strategies for leading brands such as U.S. Polo Assn., Arrow and Flying Machine. Announcing his departure on LinkedIn, he credited the leadership team for the opportunity to help stabilise and transform the business.
Earlier, he spent six years at Nestlé India, heading food service and retail formats including Maggi Hotspots, KitKat Break Zones, Milk Booths and Nescafé kiosks, managing a nationwide network of over 750 outlets. His career also includes senior roles at Aditya Birla Fashion and Retail Ltd. (Peter England), Walmart India and Godrej Agrovet.
The appointment comes as De Beers scales Forevermark’s presence in India, now the world’s second-largest market for natural diamond jewellery. Having transitioned from a loose diamond offering to a branded jewellery retail model, Forevermark plans to expand to 100 outlets by 2030.
With rising consumer incomes, increasing premiumisation and rapid growth of organised retail, India is expected to play a pivotal role in the future of natural diamonds. Yarabolu’s expertise in channel expansion and retail-led growth is set to support Forevermark’s next phase of growth in the country.
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