Mahindra Retail appoints Parvinder Singh as Chief Omnichannel Officer
Mahindra Retail, the retail arm of the $16.9 billion Mahindra Group and part of the Mahindra Partners portfolio, today announced that Parvinder Singh has joined Mahindra Retail as Chief Omni Channel Officer with effect from December 1, 2015. Parvinder will be responsible for positioning the BabyOye brand as a differentiated and true Omni Channel player in the maternity and baby-care business.
“The appointment of Parvinder as Chief Omni Channel Officer is another major step in our continuing journey towards building a robust and differentiated business. We are very optimistic about this journey. The early success of the Mobile App and the improved traction on our web store when seen in conjunction with the growth of both the physical network and the rebranded BabyOye stores only strengthens our belief,” said Prakash Wakankar, CEO, Mahindra Retail.
Parvinder Singh has previously worked with organizations like Hindustan Lever, Coca-Cola, Standard Chartered Bank and the National Bank of Dubai (NBD) in the UAE and is an alumnus of IIM Ahmedabad.
Mahindra Retail also announced that Sanjay Nadkarni, CEO, Mahindra Internet Commerce Private Limited (MICPL), which operates the BabyOye eCommerce vertical, would transition from his current role to take up a position as a Director on the Board of the company. In doing so, he will have more time to independently focus on new ideas and fresh start up opportunities.
In December 2014, Mahindra Retail acquired BabyOye from Sanjay Nadkarni and Arunima Singhdeo, its founders and their investors and housed it in MICPL as the eCommerce arm of Mahindra Retail. The acquisition was a significant first step in the company’s path towards building multi-channel capability to serve its growing customer base and laying the foundation for the Omni Channel play.
Mahindra Retail continues to make significant technology and digital investments in the website www.BabyOye.com and is also building a pan-India network of franchise & company owned stores to reach young parents. The company’s mobile app went live on both ioS and Android platforms in October 2015. The expansion of its physical store network continues to gather steam with 40-45 new franchise stores expected to open this fiscal.
BabyOye’s stated goal is to become the destination of choice for young parents in India across online and offline retail and social media. As part of this strategy, existing Mahindra Retail stores (Mom & Me) have already been rebranded BabyOye to showcase a new brand that is fresh and exciting.
About Mahindra Retail
Mahindra Retail is an extension of the US $16.9 billion Mahindra Group's trading foray in the domestic India market. It is a part of Mahindra Partners, the $900 Million Private Equity division of the Mahindra Group, with a vision to accelerate value creation through a diversified portfolio of emergent businesses of the future. Mahindra Retail has a unique venture, ‘Babyoye by Mahindra’ retail stores which specialize in maternity and infant care and have everything for Moms and kids under one roof. In a short span of time, Mahindra Retail has successfully created a strong brand with pan India presence, operating 100+ stores in over 50 cities in India.
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.
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