Noida-based teleshopping and eCommerce firm, HomeShop18 portal’s co-founder Sundeep Malhotra has stepped down from the position of the CEO. Sanjeev Agrawal, MD of Skechers South Asia Pvt. ltd., has been appointed as the new chief executive. Agrawal has over 26 years of experience in the retail industry.
Malhotra will stay with the company for 3 months as a part of the succession plan. As per some sources, he wants to pursue other entrepreneurial ventures. He has over 20 years of retail and FMCG experience, and prior to HomeShop18 he was executive VP, sales for PepsiCo India.
Indian media group Network18 had launched HomeShop18 television channel in April 2008 and its online marketplace HomeShop18.com in January 2011. Currently, it is operated by Reliance Industries Limited through the acquisition of Network18 which happened in May, 2014, and is competing directly with Naaptol.com.