After an illustrious 34-year journey, retail industry pioneer B.S. Nagesh has stepped down as Chairman of Shoppers Stop. The announcement was made at the company’s recent Annual General Meeting, where the Board and shareholders paid tribute to his remarkable leadership.
As one of the founding members who launched Shoppers Stop in 1991, Nagesh leaves behind a formidable legacy. Under his stewardship, the company grew from a single store in Mumbai to a national retail powerhouse with 299 outlets across 70 cities—including 112 department stores, 75 Intune value-fashion outlets, and 82 beauty-focused stores.
A Tribute to a Trailblazer
In a statement, the company described Nagesh’s leadership style as a balance of bold decisions and thoughtful strategy—qualities that delivered sustained growth and long-term impact. From entering new markets and weathering economic uncertainty to investing in talent and technology, his vision always remained clear and future-forward.
A hallmark of his tenure was his unwavering commitment to corporate governance. Nagesh fostered a culture of transparency, accountability, and ethical conduct, earning the trust and respect of shareholders, employees, and peers across the industry.
“On behalf of the Shareholders, Board of Directors, Employees, and all stakeholders, we wish Mr. Nagesh the very best. We extend our deepest gratitude for his 34 years of exemplary service. May his retirement be filled with joy, good health, and the pride of knowing he has made a lasting difference,” read the official tribute.
Building a More Inclusive Retail Sector
Beyond corporate leadership, Nagesh has also been a champion of inclusive growth in retail. In 2010, he founded TRRAIN (Trust for Retailers and Retail Associates of India)—a government-recognised, 80G-approved charity based in Mumbai. TRRAIN works towards improving the lives and livelihoods of retail employees across India, reinforcing Nagesh’s lifelong commitment to people and purpose.
A New Leader at the Helm
The company’s Board has appointed Nirvik Singh as the new Chairman of Shoppers Stop with immediate effect. A seasoned global executive and board member since 2008, Singh brings over 30 years of leadership experience in marketing, advertising, and business transformation across five continents.
He is currently the Global COO of GREY Group and President, International, overseeing operations across Asia Pacific, Middle East, Africa, Europe, and Latin America.
“This is not simply a farewell, but a celebration of an extraordinary tenure that has shaped the very character, vision, and resilience of our company and the overall retail industry,” said Singh.
