Ecommerce player Homeshop 18‘s chief executive officer Sundeep Malhotra has stepped down and Sanjeev Agrawal, managing director of Skechers South Asia will be succeeding him. Homeshop 18 said Malhotra will mentor Sanjeev over the next several months while Sundeep transitions to another entrepreneurial opportunity within or outside Reliance Industries retail. The Economic Times was the first to report on Malhotra’s departure.
Sanjeev Agrawal brings over 26 years of experience across FMCG, fashion & retail sector. Prior to his role at Skechers South Asia, Agrawal held senior leadership positions at Future Value retail and Pantaloon Retail besides his FMCG stints at Balsara, Revlon, P&G, Godrej and HLL.
Earlier in January, Homeshop 18’s COO & Business Head, e-commerce Narasimha Jayakumar quit the company and joined InfoEdge’s online real estate business 99Acres as its chief business officer. Mahesh Tiyyagura, AVP at HomeShop18, has joined Aditya Birla ecommerce as its CTO.
Later in January, MediaNama reported that Homeshop 18 shuttered its Bangalore ecommerce division and that it is now a Reliance Retail office, and much of HomeShop18’s web business – specifically, category management and sourcing – is largely managed out of its Delhi-NCR headquarters, at Noida’s Film City.
It’s worth noting that HomeShop18 had scrapped its $75 million IPO from the New York Stock Exchange in November 2014, around seven months after the initial application and five months after Reliance acquired Network18. The company had also surprisingly stopped selling books online, which is believed to be among the higher margin categories for e-commerce.