Landmark Group, the Dubai-based retail and hospitality conglomerate, has appointed former Flipkart top executive Rishi Vasudev as its chief executive for its brands Lifestyle International and Home Centre from June this year.
He will succeed Vasanth Kumar who will closely work with him for a month, before taking on an advisory role in the company.
“Rishi’s experience in fashion and consumer understanding will be a great asset to our business. He shares our group’s people and customer focus and his rich online and technology expertise will also be integral to bringing innovative solutions to our omni-channel business goals,” said H Ramanathan, chairman of the board – India.
Vasudev’s last stint was at the Flipkart Group as senior vice-president and fashion group head where he was responsible for creating fashion strategies, building private label brands and establishing partnerships for each of its businesses – Flipkart, Myntra and Jabong.
His departure from Flipkart came right after the exit of two other top executives CFO Dipanjan Basu and Myntra’s CEO Ananth Narayanan. All the three exits took place in a year’s time. Vasudev left the country’s largest e-commerce group after a five years stint.
In his fashion retail experience spanning over two decades, Vasudev has also served as the CEO of Calvin Klein and the senior vice-president & COO for Arrow, Gant and Izod at Arvind Fashions. He started his career with the Aditya Birla Group where he handled brands such as Grasim and Louis Philippe.
Vasanth Kumar, who has been with Lifestyle International for 15 years, will be transitioning from his full-time role as managing director, with effect from June 30.
“I had to take this decision to rebalance my personal commitments and professional aspirations. I am thankful to the board for allowing me to do so. I shall continue to support Landmark Group in ensuring a seamless transition and continued growth,” said Vasanth Kumar.
The conglomerate started its operations in India about two decades ago and runs 83 stores of Lifestyle and 51 stores of Home Centre. Lifestyle International sells apparel, footwear, accessories and beauty in the country through an omnichannel route.
Source: Economic Times
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