Shoppers Stop’s chairman steps down after 34 years

BENGALURU: After a 34-year tenure that shaped the company and India’s organised retail sector, Shoppers Stop chairman B S Nagesh announced his retirement at the company’s latest annual general meeting. The board has named Nirvik Singh as the new chairman. Singh described Nagesh’s leadership as “an extraordinary tenure that has shaped the very character, vision, and resilience of our company.”Nagesh, a well-known figure in Indian retail, guided Shoppers Stop through multiple growth phases, including category diversification and digital adoption. The company credited his focus on governance and calculated risk-taking as key to its longevity. Incoming chairman Singh is currently president and international and global COO at Grey Group, with over three decades of leadership experience across Asia Pacific, Middle East, and Africa in advertising and brand strategy, as per his LinkedIn profile.On Friday, the retailer also announced it posted a 8.6% year-on-year rise in operational revenue to Rs 1,069.3 crore in the first quarter ended June 2025.