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Shoppers Stop CEO in World Retail Hall of Fame

March 28, 2008


India’s leading premium retailer Shoppers Stop CEO, B. Nagesh has been inducted into the World Retail Hall of Fame, and is also the first Indian to get this distinction. The hallf of fame veterans include Armani, Anita Roddick, Jack Cohen etc.

On the issue of Shoppers Stop entering the crowded financial services market, Mr. B. Nagesh said,

We are catering to the top 10-12 percent of the market and these consumers don’t need loan for buying goods. As India doesn’t have credit validation process for giving loans, there is no need for us to get into financial services.

The company wants to focus on retailing while consumer financing has been left to Citibank with a co-branded card. Congratulations to B.Nagesh on his achievement and wishing him greater retail success!!!

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