Shoppers Stop to appoint Maneesh Mittal as CEO e-commerce, as Sachin Oswal quits

By

Maverick Martins

Published
Apr 18, 2018

India’s leading retail chain Shoppers Stop Limited (SSL) owned K Raheja group will see top management change again as its e-commerce and omni channel CEO Sachin Oswal has quit the organisation citing personal reasons.
 

The company is set to appoint former head of e-commerce & Big Data at Tata Group owned Croma Maneesh Mittal as his replacement. Maneesh will be responsible for strengthening Shoppers Stop omni channel network across the country.
 
The fashion retailer has witnessed mulitple top level exits over the last few months. In December 2017, its chief financial officer (CFO) Sanjay Chakravarti had stepped down from the post. During the same time, Shoppers Stop had appointed a new CEO Rajiv Suri who was given the additional charge of the CFO.

Oswal told Economic Times, "I am due leaving due to personal reasons and as part of a planned transition”. However, he declined to elaborate further.
 
Shoppers Stop profits were down 14 percent to Rs 16 crore for the third quarter ended December 31 with the company calling the quarter a transformational phase in the group’s retail journey.
 
Amazon.com had picked up a 5 percent stake in Shoppers Stop for Rs 180 crore (approx $28.4 million) in September 2017.
 
Shoppers Stop is eyeing new markets with its partnership with Amazon India and hopes to further boost its omni-channel presence across the country. It expects the tie-up with Amazon to show traction from Q4 of FY17-18.