B.S. Nagesh has retired as Chairman of Shoppers Stop, ending a 34-year tenure at the company. This was announced during the retailer’s latest Annual General Meeting, when board members and shareholders recognised his guidance and lasting contributions.
Replacing Nagesh is Nirvik Singh, who takes over as Chairman with immediate effect. A veteran board member since 2008, Singh has more than three decades of international leadership experience in marketing, advertising, and business transformation. At present, he is Global Chief Operating Officer of GREY Group and President, International—responsible for operations in Asia Pacific, Europe, the Middle East, Africa, and Latin America.
Nagesh, one of the founding minds behind Shoppers Stop in 1991 grew the brand from a solo store in Mumbai to a country-wide retail powerhouse, with 299 stores in 70 cities today—112 department stores, 75 Intune stores with a value-fashion focus, and 82 beauty-format stores.
In a release, Shoppers Stop characterised his leadership as thoughtful and strong decision-making, a mix that spurred the company’s continued growth and flexibility. During his time there, there were aggressive market forays, economic cycle resilience, and a continued emphasis on innovation through investments in talent and technology.
Nagesh’s leadership was also marked by his firm dedication to governance. He promoted a culture based on ethics, transparency, and accountability—gaining him unreserved respect from stakeholders, peers, and colleagues alike.
The organisation paid homage to him and said that on behalf of their shareholders, board, employees, and partners, they thank Nagesh for his 34 years of outstanding service, and they wish him a fulfilling retirement filled with health, happiness, and the pride of having left a lasting legacy.
In 2010, he established TRRAIN (Trust for Retailers and Retail Associates of India), a Mumbai-based charitable trust that was recognised by the government. TRRAIN aims to improve the lives of retail workers across the country, reflecting Nagesh’s lasting commitment to people-first growth.
