Ramesh Menon joins as CEO HyperCity

Hypermarket retail wing of Shoppers Stop has seen some high level management changes of late. After CEO Vipin Bhandari left the company there were high-level exodus. Now, Ramesh Menon has joined HyperCity Retail (India) Ltd as the new CEO. He was formerly with Spencer Retail.

HyperCity was headless for almost a quarter now. Menon will become the third CEO in the last 20 odd months. This situation came about when Mark Ashman decided to move back to the UK. Menon comes with 25 years of cross cultural, general management, experience in multinationals and family owned professionally run organisations across India, Middle East and Africa in the areas of FMCG, retail, manufacturing and telecom. He was last with Reliance Communications as national head wireless (GSM) operations.

HyperCity operates around 17 stores, including the recently launched 47,000 sq ft store in Noida, spread over an area of 1.3 million sq ft. HyperCity’s operating profit (EBITDA) for the third quarter stood at Rs 7.1 crore and share of fashion in the overall business was at 16.8 per cent.

Govind Shrikhande, customer service executive and managing director, Shoppers Stop Ltd, has said that Menon will be ‘responsible for leading the company’s growth strategy, path to profitability, store operations and more. The company is confident that his rich experience and able leadership will help the company grow’.