B. S. Nagesh, Founder of TRRAIN and Retail Stalwart, Joins SHOPX Advisory Panel
Mr. Nagesh is the Founder of TRRAIN and Non-Executive Vice-Chairman of Shoppers Stop Limited. He joined K.Raheja Corp. Group as the General Manager in 1991 and is responsible for setting up the retail arm of Shoppers Stop. He subsequently took over as the Managing Director and CEO of Shoppers Stop (1997 – 2009) and has been bestowed with innumerable awards and accolades during his tenure. Mr. Nagesh is the first Asian retailer and the only Indian retailer to be inducted into the World Retail Hall of Fame at the World Retail Congress conducted in Barcelona in 2008. He was recognized as an iconic retailer with awards like the ‘Most Admired Apparel Retail Professional of the Year’ at the inaugural ‘Images Fashion Awards 2000’ and ‘Top CEO Award 2001’ instituted by the Institute of Marketing Management. The Economic Times nominated Mr. Nagesh as one of the Top 33 Indians driving philanthropic initiatives in India. In 2016, SHOPX celebrated ‘Retail Employees’ Day’ by sponsoring nine scholarships in association with TRRAIN for retail partners to support their children’s education.
Commenting on this new development, Mr. Amit Sharma, CEO of SHOPX said, “We are delighted to welcome on board Mr. B. S. Nagesh, an industry stalwart, at a time when we are planning and executing the next level of growth for the company. He brings immense expertise in modern retail and in scaling up an organization through rapid growth. With his deep understanding of the retail ecosystem, Mr. Nagesh will play a pivotal role in SHOPX by adding significant value to our growth and strengthening our business capabilities. More importantly, he will help us to be even more focused on the needs of our retail partners.”
Mr. B. S. Nagesh said, “I am excited to be associated with one of the most dynamic start-ups that has disrupted India’s retail ecosystem. Retailers in Tier 2 and 3 towns in India have contributed immensely in strengthening the economy. While e-commerce is picking up, a large portion of consumers remain untapped. This gap is being fulfilled by small retailers. SHOPX’s digital offline model enhances the shopping experience for consumers in Tier 2 and 3 towns of India. The small retailers can use technology to benefit their businesses and at the same time give their customers access to wide range of products across categories. On the other hand, various brands across categories have been able to rapidly expand their outreach. I am really looking forward to collaborate with SHOPX and be a part of their journey to enhance the lives of consumers and retail partners.”
SHOPX is backed by strategic investor Nandan Nilekani. Within 18 months of its launch, SHOPX has empowered 45,000 small retailers in 230 towns across 10 states in the South and West of India; serving more than 4 million customers, making it one of the fastest growing start-ups in the country. SHOPX aims to provide the 400-million middle-income population in India (as against the current 50 million active internet buyer base) access to e-commerce through its retailer network.
Bangalore-based SHOPX is India’s fastest growing digital offline platform, which provides significant benefits to retailers across India. Their proprietary technology, when partnered with a retailer, transforms the retailer into a technology-enabled platform. This allows him to service many customers in more engaging ways. The retailer has access to new products, new services, and platform services (like credit and payments). With this approach, the company is helping to expand the overall addressable digital commerce market size significantly.