In today’s world, CEOs must be mindful not only of their statements and tweets but also their attire.
Unacademy CEO Gaurav Munjal has faced backlash after being spotted in a Rs. 30,000 T-shirt while announcing that employees would not receive salary hikes for the second consecutive year. Munjal made the announcement via video, but social media users quickly noted his Burberry Parker cotton T-shirt, which retails for 319 euros (approximately Rs. 30,000).
In the video, Munjal explained, “It’s been tough, and that’s why I have some bad news: we won’t be able to provide appraisals this year. I know I mentioned appraisals two or three weeks ago, but upon starting the process, we realized we made a mistake.”
Critics took to social media to voice their discontent with Munjal’s choice of clothing during the announcement. One Reddit user commented, “This is a Burberry Black Parker T-shirt with an embroidered logo. It may not be ideal to focus on personal items, but it is what it is.” Another user remarked, “CEOs won’t lower their own standard of living but will halt appraisals for the employees who keep their businesses running.”
This isn’t the first time Munjal’s lavish lifestyle has drawn criticism. During the pandemic, he stayed at the Oberoi in Bangalore for six months, citing increased productivity, and even had some team members work from the hotel. Unacademy also reportedly sent luxury BMW cars to greet startup founders it was interested in acquiring, with Munjal meeting them at a luxury villa protected by personal security. He is also known for frequently flying on private jets, which he defended by stating that the cost is justified by the value of his time.
Unacademy reported a loss of Rs. 1,678 crore for FY23 and has not given any raises for two years. This announcement comes just weeks after Munjal posted on X claiming the company was on track for its best year in growth and profitability. The disconnect between his optimistic social media post and the no-raise announcement—paired with his costly attire—has not been well received by the public.