Mahindra cut shorts retail expansion plans for Mom & Me

Mahindra Retail, which owns the chain store

Mom & Me, a one stop shop for all baby and maternity products like apparel, toys and wellness products, has put a full stop to its retail expansion plans owing to losses. Sources say the company would pull down shutters on more than 10 stores to cut costs.

Another reason for going slow as of now is due to the lack of funding options to carry out expansion. While the company, is struggling to raise funds it’s also losing key senior members of the team over the last six months.

The senior executives who have put in their papers include: Deepinder Kapany, who was heading the Beanstalk chain Chief Operating Officer Johhny John, Marketing Head Dhananjay Chithathoor; Srikanth Suri, General Manager, Human Resources, Rajesh Syal, a Senior Operations Executive, Apparel Head Lisa Pinto, and D J Ramdas, Head of Non-apparel products.

Mahindra Retail’s cautious approach is viewed as another example of kids’ wear retail chains followed by Lilliput, who failed trying to expand too early and too fast.