Shoppers Stop appoints Venugopal Nair as new MD and CEO
1 min read 17 Oct 2020, 07:22 PM ISTWith his 27 years of vast experience in the retail and apparel, Nair will lead the next phase of its expansion, the Shoppers Stop saidNair will take charge as the new MD and CEO from 6 November.
PremiumShoppers Stop on Saturday said it has appointed Venugopal G Nair as its managing director and chief executive officer. Nair will take charge from 6 November.
"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.
At present, Nair is the CEO of Tata group retail arm Trent’s retail chain Westside. With his 27 years of vast experience in the retail and apparel, Nair will lead the next phase of its expansion, the Shoppers Stop said.
On Nair's appointment, BS Nagesh, Shopper Stop chairman said, “Venu has an exceptional leadership track record, strong international exposure, deep strategic expertise, and proven experience of driving transformation and managing technological disruption, which is the need of the hour," Nagesh added.
"We believe that Venu is the right person to lead Shoppers in this critical phase and its next phase of growth," Nagesh added.
Prior to joining Westside, Nair was the managing director of Marks & Spencer Reliance Pvt. Ltd. He has held leadership roles with various brands includingMarks & Spencer Plc, Madura Garments and Arvind Mills.
Shoppers Stop informed in July that its managing director and chief executive officer Rajiv Suri had resigned, citing personal reasons.
Spread across the country, Shoppers Stop is a retailer of fashion and beauty brands. The company had reported a revenue of ₹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.
