Sachin Oswal, CEO of Shoppers Stop E-commerce and Omni-channel, has quit the company due to some personal reasons. Interestingly, the news has come just after the retailer announced a reshuffle in its omni-channel retail team.
Markedly, Shoppers Stop is an India-based retail chain which is owned by K Raheja Group and it announced the reshuffling in its omni-channel retail squad after the US-based e-commerce mammoth, Amazon bought a stake in the company.
Amazon NV Holdings LLC, the investment arm of e-retailer Amazon, inked the deal worth Rs. 179.25 crores to buy a 5 per cent stake in Shoppers Stop in September 2017. After signing the deal, Shoppers Stop became a seller on Amazon India, to sell its private labels that have tied up with the retailer, while Amazon got an offline presence.
Meanwhile, Maneesh Mittal, former Head of E-commerce & Big Data at Tata Group, has been named as Oswal’s successor.
Oswal co-founded the listed online commerce player Infibeam and began his association with Shoppers Stop in June 2015. He was majorly responsible for the digital strategies of the company. He, however, did not divulge any details related to his dissociation from the company, as reported.
The reports claim that Oswal is likely to take a sabbatical before taking further step. He is likely to shift to Pune from Mumbai for the time being.
It would be interesting to see how Mittal would strategize his plans as Shoppers Stop has been facing a tough competition from e-commerce platforms such as Flipkart and Amazon itself. Shoppers Stop reportedly aims to generate 15 per cent of its revenues from the online channel.
In the beginning of this year, the department store chain confirmed the appointment of Rajiv Suri as its new Chief Executive Officer, the post which had been lying vacant for more than a year.
