(Bloomberg) -- Indian billionaire Kumar Mangalam Birla appointed two of his children as directors on the retail unit of his Aditya Birla Group, setting the stage for succession.

The board of Aditya Birla Fashion and Retail Ltd., inducted Ananya Birla and Aryaman Vikram Birla, according to a stock exchange filing Monday. The board believes the company will benefit from their new-age insights and business acumen, the filing said.

Ananya and Aryaman were earlier this month appointed as directors on the board of Aditya Birla Management Corp., the apex body that provides strategic direction to the Aditya Birla Group’s businesses.

Ananya is a successful business woman and platinum selling artist. Her first company, Svatantra Microfin Pvt., founded when she was 17, is among India’s fastest growing micro-finance institutions. Aryaman is closely involved with several businesses of the fashion-to-cement group. 

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