India-based retail chain Shoppers Stop is likely to rope in Rajiv Suri, currently the Chief Executive Officer at Dubai-based Majid Al Futtaim Fashion, as its new Head.
Suri is known for his leadership experience in the retail business and has been serving Majid Al Futtaim Fashion since 2014.
However, an official announcement on the same is yet to be made.
Shoppers Stop has been on a lookout for a Chief Executive since January this year when Salil Nair resigned from the post.
The news of Suri’s appointment to the post happen at a time when the retailer is going through a tough time.
Shoppers Stop noted a 12.30 per cent decline in its revenue from Rs. 954.4 crores in the corresponding period last year to Rs. 837.6 crores in the second quarter of the current fiscal.
E-commerce platforms such as Flipkart and Amazon have emerged as tough competitors for Shoppers Stop.
The retailer aims to utilise Suri’s experience. He has previously worked as the Chief Executive Officer of Retail at Jashanmal National Company LLC and Majid Al Futtaim Properties LLC.
Suri, who started his career in Kuwait with Alshaya in 1980, also worked with Mexx between 2003 and 2007 as a Franchise Director and Managing Director.
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