Smita Mankad - Profile

Ms. Smita Mankad, Managing Director of Artisans Micro Finance Pvt. Ltd. (AMFPL), a wholly owned subsidiary and the investment arm of Fabindia Overseas Pvt. Ltd., is an Economics (Hons) graduate from Lady Shriram College for Women, Delhi University, and an MBA from Narsee Monjee Institute of Management Studies, Mumbai University, India and has over 19 years of experience in the corporate sector. She started her career with TATA Motors, and after 6 years with ABN AMRO Bank in Mumbai, she moved to Delhi with Fabindia in January 2003. With Fabindia, she has worked in Exports, coordinated the opening of its international stores in Dubai and China; then heading the Business Development function - incubating new businesses for Fabindia including the online webstore, redesigning the website, and created and launched a range of Personal Care products. She has spent time in market development opening numerous new stores in North India and also headed the flagship store in New Delhi. She has worked on creating standard Systems & Protocols for the company, co-writing the operations manual, developing internal audit systems, and coordinating the implementation and rollout of Fabindias next phase of growth. She has been deputed as Managing Director of AMFPL wef January 1, 2008. In her role as MD of AMFPL she is responsible for setting up and managing the 18 Community Owned Companies that form part of Fabindias supply chain, a unique initiative designed to bring Indias rural artisans into the compelling story of our countrys economic growth. Through these 18 companies, she and her team work with over 1000 producer groups and suppliers, and through them 80,000 artisans across India. AMFPL brings to them all required support infrastructure and best practices, access to new technology, design inputs, warehousing and storage facilities, quality guidelines, continuous training and timely payments. Rural craft persons today lack the incentive to continue their craft as a profitable business Fabindia and AMFPLs vision is to reverse this trend and make them the direct beneficiaries of the growth and wealth creation in these community owned companies. The aim is not only to assure the supply chain but also of revive crafts, create jobs, keep the jobs in rural areas, and bring sustainable prosperity to artisan communities. The COCs offer the opportunity to build sustainable communities and participate in their lives and livelihoods. There is much to be done in capacity building, infrastructure development, healthcare, sanitation and drinking water, training and education. This is poverty alleviation at its most practical and most efficient by giving the craftsperson a livelihood, you make him independent and self sufficient the goal of all development initiatives. Her responsibilities include bringing great quality, affordable product from rural home based workers across India, to Fabindias 170 stores across urban markets. By ensuring operational profitability of the companies and dividend payments to the artisans and investors, she meets the expectations of the 20,000+ artisan shareholders who hold shares in the COCs. The portfolio of companies has broken even in record time, and with these profits been able to successfully pay dividends to artisans and investors, and provide them with capital appreciation.

She has successfully partnered with the Central and State Governments across India to setup Community Owned Companies under the Public Private Partnership model, notably Varanasi and Orissa. She has been part of the Ministry of Textiles subgroup on Marketing, Exports, Brand Building and Promotion of Handloom Products for the 12th Plan during 2011, and has addressed IAS probationers at the Lal Bahadur Shastri Acadamy of Administration, Mussoorie on collaborative ways of working at the grassroots with crafts and textiles, between the government and the private sector. She has also addressed students at IIM Calcutta on various occasions. Smita was invited to be a Jury Member of the Central Level Selection Committee for the National Awards for Handlooms & Handicrafts, India for 2010 (the highest of a 3 tier selection process for highest level national awards given annually by the Government of India), and was also Subject matter expert and Jury Member for Social Change Agents award category of India Pride Awards instituted by the Dainik Bhaskar Group. Smita was nominated from India to the 4 week Fortune U.S. State Department Global Womens Mentoring Partnership Program 2010 which connects leading women business executives from Fortune 500 companies in the United States, with emerging women leaders from around the world, spending time in Washington and New York as part of the program. She was also nominated to the exclusive Vital Voices and Bank of America Global Ambassadors Program held in India in 2012 for 6 mentees and 6 mentors. This partnership recruits top women leaders across sectors from across the globe to serve as Global Ambassadors to offer mentoring and support to the top women leaders in the Vital Voices Network. The Global Ambassadors are senior women executives in Fortune 500 companies, leading entrepreneurs and marketing and communications experts Smita was paired with and mentored by the EVP & Global Head of HR (People Division) at Wal-Mart Stores, Inc., Susan Chambers. She is responsible for the 2 million WalMart employees worldwide.

She remains committed to working in the field of social entrepreneurship and empowerment at a grassroots level and to womens leadership and mentoring at a global level.

Smita Mankad E-71, IFS Apartments Mayur Vihar Phase I New Delhi - 110092 s.mankad@fabindia.net / smita.mankad@gmail.com 09312089247 / 09811555630