After an impressive eight-year journey marked by strong growth and brand transformation, Satyen Momaya, the CEO of Celio India, has stepped down from his role. During his tenure, Momaya played a pivotal role in reshaping Celio’s India operations—tripling the business, driving profitability, expanding retail presence, and fostering a people-first culture that earned industry-wide recognition.
Celio has chosen not to appoint a new CEO for India. Instead, François Gomez, International Zonal Director (Asia, Middle East, South America & French Overseas Territories) at the group Celio, will return to India from France to take charge as Chief Operating Officer (COO). Supporting the business on the ground will be Manoj Bathija, Celio veteran and current Head – Sales & Operations, who takes on an expanded role to lead business continuity and local execution.
A Transformative Legacy: Satyen Momaya’s Impact
When Momaya took charge in 2017, Celio India had around 180 points of sale, including 31 exclusive stores. Today, that number has grown to over 700 points of sale, including 71 exclusive stores across malls and high street, shop-in-shops, regional multi-brand outlets, online marketplaces, and Celio’s own D2C platform.
Under Momaya’s leadership:
Revenue tripled and the business turned profitable post-pandemic. The brand achieved industry-leading sell-throughs with a strong mix of global and India-specific product lines and thanks to strong investments in its stores network. Celio India was named among the Great Places to Work in Retail spaces for four consecutive years.
Reflecting on his journey, Momaya shared: “It was a very satisfying experience. We built a great team and a culture of execution without excuses. The thoughtfulness of my farewell and the heartfelt gestures reflected the genuine bond we built over the years.” In his farewell note on LinkedIn, he thanked the leadership in France, his India team, and business partners, calling his time at Celio “a journey full of learning, growth, and unforgettable moments.”
Business Context: Growth in a Competitive Market
Celio India entered the market through a joint venture with Future Group in 2008 and restructured in 2014, when Celio International almost acquired full ownership—reaffirming its commitment to India. Despite pandemic headwinds, the brand rebounded swiftly. The brand also significantly reduced losses and edged closer to EBITDA breakeven, driven by tighter cost controls and improved efficiencies.
FY23 Revenue: ₹217 Cr
46% CAGR in the preceding year
30% YoY Profit Growth, outpacing 16% revenue growth
EBITDA up 11.3%.
For FY24, Celio Retail reported revenue of ₹232.5 Cr, supported by: 5–10% growth in online sales
Brand Strategy:
Celio brings in the differentiation of French fashion in Indian men’s wear scene offering stylish, high-quality everyday fashion at accessible prices. It operates 70 + exclusive stores and is present in over 600 multi-brand outlets, including Shoppers Stop, Lifestyle, and Pantaloons. The brand has steadily strengthened its D2C and digital commerce channels, with online sales contributing an increasing share of overall revenue. In 2023, Celio launched campaign “Do it your way focused on sustainability, youth culture, and real-world fashion, to build stronger connections with India’s style-conscious, value-driven male consumer.
Leadership Transition: Continuity Meets Change
While Momaya’s exit marks the end of a defining chapter, Celio’s new leadership model reinforces both continuity and evolution. François Gomez will oversee strategy and stakeholder alignment from both France and India while reinforcing operation execution and will be accompany in his mission by Manoj Bathija who will front-end the business, leading local operations and partner relationship. This leadership approach mirrors a growing trend among global fashion brands in India—opting for lean, execution-led structures that enhance agility, responsiveness, and localization while working on the brand imaginary. As Celio enters its next phase, the leadership team will focus on accelerating growth, refining consumer experiences, and reinforcing Celio’s identity as a modern European brand with an Indian heartbeat.
Comment from leadership at French head office
“We are confident that the new organisation in place will continue driving the brand’s growth in this strategic market by reinforcing its key strengths that have made the brand successful and leader in France. Celio Group remains strongly committed to supporting the ongoing development of Celio India, relying on a solid local team and an agile operating model focused on delivering value to our customers. “
Strategic Focus Ahead
Celio’s strong operating base, rising profitability, and omni-channel strength position it to further deepen penetration in the Indian market. The brand’s global sourcing from India has also grown significantly—from under 1% to over 7% in the last three years—reflecting its increasing integration with the Indian retail ecosystem.
About Celio India
Launched in 2009 through a partnership with Future Group, Celio India has grown from two stores in Delhi and Mumbai to a strong omnichannel presence nationwide. With a vision to be a complete head-to-toe lifestyle brand for men, Celio continues to innovate across product, sustainability, and consumer experience
