Marico inducts B S Nagesh to its board of directors
02 Aug 2010
The board of directors of Marico Limited have inducted B. S. Nagesh, customer care associate and vice chairman of Shoppers Stop Limited, as a non-executive independent director replacing Bipin Shah, who had retired from the board in January.
Nagesh has about three decades of industry experience, including about two decades in retailing, and was instrumental in the rise of Shoppers Stop as the largest chain of large format department stores in the country, with 28 stores in 12 cities.
It was under his leadership that Shoppers Stop acquired and successfully scaled up the Crossword chain of bookstores.
He also helped set up operations of India's largest hypermarket, HyperCity, which was launched in May 2006 and bring overseas brands MAC and Mothercare into the country.
Nagesh was inducted into the 'World Retail Hall of Fame' at the World Retail Congress 2008, conducted in Barcelona.
Established in 1990, Marico is a consumer products and services groups, in the global beauty and wellness space with a a turnover of Rs26.6 billion in 2009-10.
Marico's brands include Parachute, Saffola, Sweekar, Hair & Care, Nihar, Shanti, Mediker, Revive, Kaya, Fiancée, Haircode, Caivil, BlackChic and Code 10. In the skin care solutions segment it is present through Kaya Skin Clinics in India, Middle East and Bangladesh.
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