Jeh Wadia Makes A Comeback To Wadia Group. Jeh Wadia’s Rise, Fall, And Return To The Family Fold

Jeh Wadia, the younger son of Wadia Group patriarch Nusli Wadia, has made a notable return to the family business after a three-year hiatus. At 51, Jeh’s re-entry comes after extended discussions with his father, 81, in London, where the senior Wadia urged him to leverage his expertise for the group’s operations and assume some of his father’s longstanding responsibilities.

A New Chapter in the Wadia Legacy

Jeh’s reappointment is a strategic move aimed at ensuring business continuity and succession planning within the 288-year-old Wadia Group, which oversees Britannia Industries, Bombay Dyeing, Bombay Burmah, and National Peroxide. These companies collectively boast a market capitalization of ₹1.38 lakh crore. Notably, two of them have been listed for over a century, with Bombay Dyeing delivering uninterrupted dividends for 125 years.

Jehangir will now divide his time between India and London, where his family resides. While he assumes a non-executive role at Britannia, he is expected to take charge as Managing Director of Bombay Dyeing, a role he once held at GoAir (now Go First).

A Strained Past

Jeh’s return follows a dramatic exit in March 2021 when he resigned from all Wadia boards, including Britannia, Bombay Burmah, and Bombay Dyeing, citing personal reasons. This exit was marked by publicized disputes over the performance and direction of Wadia Group companies, particularly GoAir, which Jeh led as Managing Director until 2021.

The family spat escalated when GoAir’s Draft Red Herring Prospectus (DRHP) revealed a legal dispute over trademarks like “Go,” “GoAir,” and “Fly Smart.” Jeh’s firm, Go Holdings, owned these trademarks, and the absence of formal agreements with GoAir created friction. Jeh sought to restrict the airline from using these trademarks, filing applications with the Registrar of Trade Marks and the National Internet Exchange of India for domain name transfers. These moves signaled a deeper rift, with the airline, chaired by Nusli, opposing Jeh’s claims.

Despite board and shareholder approval for Jeh’s reappointment as GoAir’s Managing Director until December 2025, he chose not to formalize the agreement, eventually stepping away from the airline and other group companies.

Balancing Family Dynamics and Business Continuity

Nusli Wadia, at the helm of the group for nearly six decades, is reportedly keen to inject youthful energy into the family business while maintaining a professional management structure. Elder son Ness Wadia, 53, manages Bombay Burmah and National Peroxide, and both father and son hold key positions across group companies, including Britannia. Jeh’s return adds another layer of leadership to the family’s operations, aiming to balance tradition with modern business challenges.

A Broader Context. Family Businesses in India

The Wadia Group’s story reflects a broader trend in India, where nearly 80% of businesses are family-owned. These enterprises often struggle with intergenerational dynamics, succession planning, and professionalization. Jeh’s comeback signals a possible resolution to past conflicts, with a focus on steering the group towards sustained growth.

So What Went Wrong? Jeh Wadia’s Rise, Fall, and Return to the Family Fold

Jehangir (Jeh) Wadia’s return to the Wadia Group marks the beginning of a fresh chapter in so far strained journey. The younger Wadia, who once seemed destined to lead the family empire, has faced his share of challenges, raising questions about what went wrong in his earlier stint at the helm.

Jehangir launched GoAir in 2005, introducing a budget airline that became a significant player in Indian aviation. By 2011, he was appointed Managing Director of Bombay Dyeing, signaling a broader role within the family’s legacy businesses. Known for his hardworking, grounded approach—working 16-hour days from the Wadia headquarters in Lower Parel or the family residence—Jeh stood out in sharp contrast to his flamboyant elder brother, Ness Wadia.

Observers close to the family believed that Jeh’s dedication to the family business positioned him as the natural heir to patriarch Nusli Wadia. Jeh even prepared an ambitious plan to rejuvenate Bombay Dyeing’s legacy bed-and-bath brand, steering it into new categories like branded accessories, casual attire, home solutions, and furniture.

Ambition Meets Reality

Despite Jeh’s vision, many of his ideas remained confined to the drawing board. Bombay Dyeing’s real estate subsidiary, Bombay Realty, provided a fleeting success story when it booked a bonanza profit of ₹1,228 crore in FY19. However, this was a one-time gain. The company soon posted a loss of ₹469 crore in FY20, largely due to the COVID-19 pandemic and resultant lockdowns.

The pandemic’s financial impact was amplified by Bombay Dyeing’s dependence on cyclical and high-capital real estate ventures, which made recovery even more challenging. Insiders suggest that a loss of this magnitude was unacceptable to Nusli Wadia, whose insistence on profitability is legendary.

The Fall of GoAir

Jeh’s aviation venture, GoAir (later rebranded as Go First), also faltered. After showing promise in earlier years, the airline posted a staggering loss of ₹1,270 crore in FY20, compared to ₹386 crore the previous year. Operational challenges, compounded by the pandemic, exposed vulnerabilities in the low-cost carrier’s business model.

Moreover, Jeh’s falling out with the family became public during this time. His resignation from all group boards in 2021, including Bombay Dyeing and Britannia, marked a sharp turn in his career. Disputes over GoAir’s trademark ownership with his father and the airline’s financial struggles only deepened the rift.

What Went Wrong?

Jeh’s vision for Bombay Dyeing to expand into diverse categories including branded accessories, casual attire, home solutions, even furniture never took off. Execution challenges and the focus on real estate overshadowed other potential revenue streams.

Bombay Realty’s one-time profit in FY19 could not sustain the group, especially as real estate is highly susceptible to economic downturns. The pandemic only aggravated these issues. Simultaneously, GoAir’s mounting losses, coupled with internal disputes over trademarks and strategy, created a strained relationship between Jeh and the family.

Jeh’s hard work and grounded approach may have set him apart, but the pressures of delivering profitability in a legacy-driven environment, coupled with personal and professional conflicts, led to his departure in 2021.

A Second Chance

Jeh’s return to the Wadia Group reflects a willingness to address past challenges and focus on business continuity. While his initial tenure was marred by unrealized ambitions and financial setbacks, his experience may prove invaluable as he re-assumes leadership roles.

This comeback is an opportunity for Jeh to realign the family’s business interests and execute his vision with a renewed focus. Whether he can overcome past hurdles and chart a sustainable path forward remains to be seen, but his return illustrates the many challenges and importance of resilience in family-run businesses.