New Delhi, Oct 17 (PTI) Retailing firm Shoppers Stop on Saturday announced the appointment of Trent’s Venugopal G Nair as its Managing Director & Chief Executive Officer.
Nair, whose appointment is effective from November 6, 2020, would take over the role from Rajiv Suri who had resigned earlier.
“He (Nair) has also been appointed as a Managing Director, designated as 'Managing Director & Chief Executive Officer' of the Company for a period of three years effective November 6, 2020, subject to the approval of shareholders of the Company,” Shopper Stop said in a regulatory filing.
Nair is presently operating as CEO of Tata group retail arm Trent’s retail chain Westside.
He has 27 years of experience in the retail and apparel and would lead the next phase of its expansion, the K Raheja group firm said in a statement.
Commenting on the development, Shopper Stop Chairman BS Nagesh said, ”We believe that Venu is the right person to lead Shoppers in this critical phase and its next phase of growth.” Before Westside, Nair was the MD of Marks & Spencer Reliance Pvt. Ltd. He has held leadership roles with various corporates Marks & Spencer Plc, Madura Garments and Arvind Mills.
Earlier, in July Shoppers Stop had informed that its Managing Director and Chief Executive Officer Rajiv Suri has resigned citing personal reasons.
Shoppers Stop is a retailer of fashion and beauty brands and operates 88 department stores in 44 Cities. The company had reported a revenue of Rs 3,380.98 crore for FY 2019-20.
It also operates premium 11 home concept stores, 135 Specialty Beauty stores of M.A.C, Estée Lauder, Bobbi Brown, Clinique, Smash box, Jo Malone and Arcelia. PTI KRH MR