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Shoppers Stop elevates Kavindra Mishra as new CEO as Venu Nair resigns abruptly

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Mishra has been appointed as the executive director and chief executive officer of the Company for a period of three years effective 1 September, 2023, subject to approval of the shareholders of the Company

Mumbai: Shoppers Stop Ltd. has promoted Kavindra Mishra the chief commercial officer and chief executive officer of Homestop as the company’s new executive director and chief executive officer, subsequent to the resignation of its existing managing director and chief executive officer, Venu Nair, the company announced in a press release.

Venu Nair has tendered his resignation from his position, effective from the close of business hours of 31 August 2023 due to personal reasons. He intends to spend more time with his family and explore other options, as per the BSE filing. He was at the helm of the company since November 2020 and was responsible for steering the company into new formats such as the value format Intune and SS Beauty.

The Shoppers Stop board has approved the promotion of Kavindra Mishra in a meeting held on 24 August 2023.

Shoppers Stop Chairman BS Nagesh will handhold Mishra during the transition period. He will also mentor and coach the new executive director and chief executive officer of the Company.

“In the last five months, Mishra has taken over the charge of Homestop and the commercial part of the Shoppers Stop business. His skills as a business leader, strategic expertise and overall understanding of the retail industry is an excellent fit for leading the Company as its chief executive officer and setting high standards. Under his leadership and guidance, I am confident about the future growth of the Company,” BS Nagesh said.

Before joining Shoppers Stop, Mishra was working as the managing director and chief executive officer of House of Anita Dongre. Prior to that, he served as the managing director at Pepe Jeans India for a period of six years.

Mishra was a co-founder of Zovi.Com, a start-up funded by Tiger Global and Saif Partners. He is a Post Graduate Diploma holder from the Indian Institute of Management, Bangalore.  He has been part of the senior leadership since then and has worked in diverse retail companies such as Tommy Hilfiger, United Colors Of Benetton, Pepe Jeans and House Of Anita Dongre. He has total work experience of more than 24 years.

Shoppers Stop Ltd. is a premier retailer of fashion and beauty brands established in 1991. Spread across 100 department stores, the Company also operates 7 premium home concept stores, 146 Specialty Beauty stores of M.A.C, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, SSBeauty, 4 Intune and 22 Airport doors, occupying area of 3.9 M sq. ft.

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