What makes Harshad Thakkar a bankable CEO is his single-minded focus on achieving results. He is the “Go to Expert” for buyer psychology, business strategy, and stakeholder management. From starting a new venture in 1998 with a personal seed capital of INR 4 lakhs (insurance money upon the untimely death of his Father) to today’s AIFL as a listed entity, from a 20 member team

to an organization with 425 employees, Harshad has navigated through this journey as an innovator, risk taker and a smart businessman. Today AIFL caters to 80% of the domestic market with 30 Exclusive Brand Outlets in India, 100+ distributors across India and Middle East and has a market capitalization of INR 800 Crores as of March 31, 2017.

Percent of Domestic Market
No. of exclusive Brand Outlets in India
Distributors across India and Middle East
Market capitalization-March 31, 2017(INR crores)


In the year 2013, AIFL got listed on SME, got migrated to BSE main board in 2015, and in the same year got listed on NSE as well. In a short span of 24 months, it has become one of the hot picks amongst the investors. With a face value of INR 10 per share, it was offered for INR 40 and currently is traded at INR 400 per share.


Large investors feel that the company is in a lucrative sun-rise industry. The Indian lingerie market has the highest growth potential in the world today. The Innerwear segment has graduated from a functional category to a fashionable category. There is a major shift from price sensitiveness to brand consciousness and using high quality products.

This INR 2500 crores industry is estimated to grow at a rate of 30% per annum. AIFL is positioned for massive growth because of its high Return on equity, low debt (soon to be a debt free company), brand equity, growing exports, and strong leadership.


So what’s Harshad’s secret to making AIFL the fastest growing company in the relax wear segment? – He says, “It is simply the rich experience I could gather by starting very early in this industry. Valentine is focused on creative design and robust distribution. Today women are choosy about style, dressing, and their clothes. Our designs are made one year in advance, we work on conceptualization of fashion trends, choice of fabric, color, design pattern, look, and feel of the product, and other minuscules. We have always been striving to upgrade our quality to the best international standards”.