MAM
Shoppers Stop Ltd announces changes in its leadership positions
MUMBAI: Shoppers Stop Ltd. today announced the promotion of Homestop, chief commercial Officer and CEO Kavindra Mishra, as its executive director & CEO,aftero the resignation of its managing director & CEO, Venu Nair.
Kavindra Mishra has been promoted to executive director & chief executive officer – Based on the recommendation of the nomination, remuneration and corporate governance committee, the board of directors of the company (“the Board”), at its meeting held today, i.e. on 24 August 2023, approved the promotion and appointment of Kavindra Mishra (DIN: 07068041) as an additional director of the company w.e.f. 1 September 2023. He has also been appointed as an executive director & chief executive officer of the company for three years effective 1 September 2023, subject to the approval of shareholders of the Company.
A brief profile of Mr. Kavindra Mishra is given below :
The chairman of the company, BS Nagesh said “I am delighted that Kavindra Mishra, has been promoted as the executive director and CEO of the company. In the last five months, he has taken over the charge of Homestop and the commercial part of the Shoppers Stop business. His skills as a Business Leader, strategic expertise and overall understanding of the retail industry are an excellent fit for leading the Company as its CEO and setting high standards. Under his leadership and guidance, I am confident about the future growth of the company”
Managing director and chief executive officer Venu Nair has tendered his resignation from his position, effective from the close of business hours of August 31, 2023, due to personal reasons, to enable him to spend more time with his family and explore other options.
The board of directors of the company at its meeting held today has accepted his resignation and placed on record their appreciation for the contribution made by him during his tenure. He has been instrumental in strengthening the business in the post-Covid era, by growing its strategic pillars of fashion, and beauty and expanding the company’s retail network. He leaves a much-strengthened Shoppers Stop. To ensure a seamless transition, he will continue to guide and advise the CEO over the next 6 months, in his capacity as a Company official.
B.S.Nagesh non-executive chairman of the company will handhold during the transition period. He will also mentor and coach the executive director & chief executive officer of the company.
MAM
The Merit of Madness: How AI is Changing the Game in Advertising
By Ritz Malik, founder, Ritz Media World.
MUMBAI: When it comes to growth in a competitive landscape, a businessman always has to be a firm believer in Darwinism. You either need to bring a better product, or a better price, or both to the table to get customers and scale. Without this value proposition, you remain unnoticed, and staying unnoticed is not something that a brand wants to do.
You have to do all this and also make sure that you stay cashflow positive at the same time. Otherwise, you’re at a real risk of becoming a large hollow balloon that your competitors are just waiting for to explode or implode under its own weight.
As we’ve entered the era of AI, the notion of a product’s efficacy, cost efficiency, marketability, workflow management, and logistics reliability has become increasingly relevant and prevalently impactful. None of this is background noise anymore. It is the difference between bleeding money on traditional media and actually engineering a profitable campaign.
For example, META’s AI Algorithm has finally given us the ability to measure the ‘CREATIVE’ for a business’s promotions. The best part is that we can do so organically. Content that is actually relevant to the target audience gets more views through reach. This tells us exactly how the audience is reacting before we even scale the budget. This is how we have been gifted the ability to provide merit to the madness of the creative process.
So, our process is as follows:
A set of creatives is built for social media
Their performance is closely monitored for reach and engagement.
Based on the best organic performance, we choose the creative.
Make micro adjustments to add a sales proposition and CTA (but keep it subtle)
Publish the modified creative as an ad.
There’s a lot that goes on in between, but this is the basic method for getting it right. And this is just the AI that’s being used by platforms across the world.
AI utilisation is something that has greatly made the creative process a lot easier. As an agency that thrives on coming up with ideas that are out of this world, we have made the most of leveraging AI to bring ideas to life without spending a fortune.
So, this way, the ability to create high-impact brand stories is no longer under the tyrannical gatekeeping of large budget organisations. It is now that merit solely falls on the storyteller.
Now, AI-powered content production and the AI algorithm on Social Media platforms are asking the question: Is your content compelling?. If yes, the audience will watch your content, share it, and engage with it.
And when it comes to keeping budgets down, we can surely say that it holds the capability to execute million-dollar shoots at a fraction of the cost.
For example, we recently came across a creative challenge by a major Real Estate Developer from Gurugram. They had signed a celebrity couple for their brand ambassadorship a few months ago. They were now about to launch their new project, but for some reason, they could not get their shoot done.
What we came up with was to use the likeness of this celebrity couple and place them throughout the project’s feature video. With the help of AI generation, we were able to rebuild a completely new feature video with their brand ambassadors in 2 days, and no additional physical shots were required.
Imagine being able to save 50-60 lakhs in production costs, 15-20 days in production time, and comfortably be ahead of schedule to launch the project.
This has changed the game entirely. With AI, you can now just acquire the likeness rights of celebrities, and you can just build environments and scenarios with them. The balance between creative and artificial intelligence isn’t a battle for control; it is simply the ultimate tool for survival and scale in a landscape that rewards the fastest and the smartest.
