Shoppers Stop’s hypermarket chain HyperCity’s CEO Mark Ashman has quit the company, according to a leading daily. Ashman served as the CEO of the chain for almost three and a half years. The paper reported that Ashman is likely to relocate to the UK.
Ashman is credited with revising the HyperCity store format for the Indian market to 55,000 sq.ft. and 28,000 sq.ft. He also developed apparel as a key sales and profit driver launching new private
labels to reposition the brand.
Before HyperCity, he worked with Marks & Spencer as the Regional Managing Director Europe, Middle East and Africa – EMEA (six months); CEO Marks and Spencer India (around two and a half years); International MD (eight months); and Head of Outlet Division (for around three years).
HyperCity currently runs 15 stores in the country and is looking at an Ebitda break-even this fiscal.
