- Sujata Sachdeva |
Rajiv Suri will be the new CEO of Shoppers Stop. He will take charge at a time when losses are widening at Shoppers Stop amid competition, especially from ecommerce giants Flipkart and Amazon. The company is hiring Suri, head of Dubai-based Majid Al Futtaim Fashion. Since January after Salil Nair put in his papers the post had been lying vacant.
Widening from the Rs 8.78-crore loss it had reported in the year ago period at present Shoppers Stop reported consolidated loss of Rs 18.5 crore for the September 2017 quarter.
Suri was earlier CEO of Majid Al Futtaim Fashion for about four years and sits on boards of various Middle East ventures, including Monsoon Accessorize and Abercrombie and Fitch. Last month, Kishore Biyaniled Future Retail stated it will acquire HyperCity from Shoppers Stop for Rs 655 crore in a cash-and-stock deal.