MAM
Shoppers’ Stop opens 18th retail outlet in Bangalore
BANGALORE: The Raheja promoted Shoppers’ Stop chain has opened their 48000 sq. ft. retail outlet, the third one at Bangalore. The new store spread across three floors will cater to the personal accessories, apparel, cosmetics, leather goods and jewellery needs of the customers.
This addition will bring the chains aggregate area to over three quarter million sq. ft. On the anvil this fiscal are opening of a new store at Shipra, Ghaziabad, UP on Monday, 30 May, opening two stores in Hyderabad and Ahmedabad and probably another two at Delhi, which will increase their sq. ft area to over a million. All future outlets will be spread over 50,000 square feet or more as a company policy as per Shoppers’ Stop V-P operations Ajit Joshi.
Shoppers’ Stop is the only Indian member of the Intercontinental Group of Department Stores (IGDS) along with 29 other retailers from across the world including UK’s Selfridges, Germany’s Karstadt, Japan’s Takashimaya, Singapore’s C K tang and Dubai’s Lamcy Plaza. Shoppers’ Stop was selected Super Brand 2003/2004 by an independent Superbrands Council comprising of eminent professionals from Marketing and Advertising out of a national list of 711 brands across 98 categories.
Contract handles its creative and media, while Lakshaya handles the outdoor campaigns.
Brands
Oyo parent Prism appoints former Sebi chief Ajay Tyagi to Board
Former market regulator joins Prism to strengthen governance for IPO
NEW DELHI: Prism, the parent entity of Oyo, has appointed former Sebi chairman Ajay Tyagi as an independent director, as the hospitality firm gears up for its planned Rs 6,650 crore initial public offering (IPO).
Tyagi, a 1984-batch IAS officer, served as chairman of the Securities and Exchange Board of India (SEBI) from 2017 to 2022. His appointment is aimed at strengthening the company’s governance framework and providing strategic oversight as it moves closer to a public listing.
He joins a high-profile board that already includes several prominent names from global business and policy circles. These include Troy Matthew Alstead, former CFO and group president of Starbucks; Aditya Ghosh, co-founder of Akasa Air; Deepa Malik, paralympic athlete and Padma Shri awardee; William Steve Albrecht, professor of accountancy at Utah State University; and Bejul Somaia, partner at Lightspeed Venture Partners.
Prism founder Ritesh Agarwal, said Tyagi’s experience in capital markets regulation and public-institution stewardship will be critical as the company scales operations and enhances long-term accountability.
The company recently filed preliminary papers with Sebi to raise Rs 6,650 crore through a confidential route. Market sources estimate its valuation will be in the range of $7 billion to $8 billion.
Over the course of his career, Tyagi has held senior roles in the ministry of finance, where he oversaw investment policy and financial-sector reforms. His induction to the Prism board signals a renewed focus on aligning the company’s internal standards with the stringent requirements of public markets as it advances toward its IPO.
