Jaanuu Names First Chief Financial Officer for Next Phase of Growth
Physician-founded Medical Apparel Brand Hires Marshall Lai as CFO
LOS ANGELES, Oct. 14, 2021 /PRNewswire/ -- Leading direct-to-consumer medical apparel brand Jaanuu today announced the addition of another experienced executive to its bench, hiring Marshall Lai as Chief Financial Officer. This appointment comes on the heels of Jaanuu's recent high-profile hires of former Nike marketers Dan Alder and Scott Shepley, and is a continuation of heavy investment in talent as it plans for the next phase of global expansion.
Lai joins Jaanuu at a time of exponential growth and brings with him a wealth of cross-industry, global experience in both the public and private markets. Jaanuu saw its revenue triple from 2019 to 2020, and its medical customer revenue more than double in 2021, making Q4 the perfect time to add a heavy hitter to the finance department. As Chief Financial Officer, Lai will lead the charge on financial budgeting, strategic planning, investor relations, cash flow management and capital market activities.
On the decision to hire Lai, Jaanuu Co-Founder and CEO Shaan Sethi said, "As Jaanuu has quickly gained more market dominance, finding a world-class leader to take Jaanuu to the next level has been a top priority. Marshall comes to Jaanuu with not only robust public and private market expertise but also invaluable leadership qualities. I am thrilled to add his skillset to our talented team and to partner closely with Marshall as we continue this exciting journey of transformational growth."
Lai brings to Jaanuu more than 15 years of experience working across finance and consumer products categories. Prior to joining Jaanuu, Lai spearheaded finance at Shutterfly, a leading digital retailer and manufacturing platform for photography and personalized products, taken private by Apollo for $2.7 billion in 2019. Lai managed the full P&L for the portfolio of brands at Shutterfly, overseeing double digit revenue growth and significant expansion. Before Shutterfly, Lai worked with both public and private software enterprises leading finance, investor relations and corporate development and he began his career as an investment banker at Lehman Brothers and Nomura Holdings. Lai graduated from UCLA with a degree in Computer Science and Electrical Engineering and received his MBA from the University of Michigan.
"As a world-class medical apparel brand, Jaanuu is redefining a powerful and extremely relevant industry. And more than ever, innovation and science-backed technologies are solving real world problems for those who need it most, specifically our hardworking healthcare professionals. I am impressed by Jaanuu's ability to drive incredible organic, profitable growth and the authenticity of its mission as a physician-founded brand. I could not be more excited to partner with Shaan, Dr. Neela and the entire team at Jaanuu to take the company to its highest level yet."
About Jaanuu
Jaanuu is a physician-led brand that designs innovative healthcare apparel to fuel the body and nourish the mind by incorporating sport, style and empowerment. Co-founded in 2013 by Dr. Neela Sethi Young and her brother and former private equity investor Shaan Sethi, the mission of Jaanuu is centered around achieving greatness in life, or "Jaan" in Hindi, through a mind-body connection. With a practicing Pediatrician at the helm, Jaanuu is deeply in tune with the challenging journey of a healthcare professional. Through science backed data, proprietary technologies and antimicrobial-finished fabrics, Jaanuu creates apparel and accessories that empower healthcare professionals to look and feel their best. For more information, visit www.jaanuu.com, and follow Jaanuu on Instagram, Facebook and Twitter @JaanuuByDrNeela.
SOURCE Jaanuu
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