Shoppers Stop appoints Ravi Suri as its new MD
Shoppers Stop, the fashion retailer in India has selected Rajiv Suri as its managing director (MD) and chief executive officer (CEO) with immediate effect. The retailer announced resignation of its MD Govind Shrikhande and said that Suri has been elevated from his current CEO position to MD & CEO to lead the next phase of expansion, according to sources.
Rajiv Suri, 54, who was earlier the CEO of Majid Al Futtaim (MAF) fashion business, which operates nearly 140 stores in the Middle East, was appointed the CEO of Shoppers Stop with effect from January 9 this year.
Before joining MAF in 2014, Suri was associated with Jashanmal Group as CEO-Retail from 2007 to 2014. As a part of his role, he also served on the board of directors of Burberry Middle East and was instrumental in launching Burberry in India.
Recently, Shoppers Stop has recently recorded a standalone net profit of Rs. 20.78 crore in the fourth quarter as compared to a net loss of Rs. 36.06 crore in the same quarter in 2017.
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