Television shopping and e-commerce firm Homeshop 18's CEO Sundeep Malhotra has decided to step down, from the company he had founded seven years ago.Sanjeev Agrawal, MD of Skechers South Asia will be succeeding Malhotra.
Agrawal, an engineer from BHU and an IIM Lucknow graduate (1989), started his career with Hindustan Unilever as Management Trainee. After a relatively short stint of 1.5 years he moved on to Godrej Soaps as Asst. Marketing Manager in 1991 and to P&G in 1993 as Media and Market Research Manager. Subsequently, in July 1994 Agrawal moved to Modi Revlon as Senior Manager Ė Beauty Care and Exports and then in 2003 he took over as President Marketing at Pantaloons.
While at Pantaloons he headed marketing for Future Group across all retail formats Big Bazaar, Pantaloons & Central and is credited for creating the promotional property of Sabse Sasta Din around 26th January (for Big Bazaar). He is also credited for strengtheningthe Pantaloons brand through the use of Celebrities (he initiated the title sponsorship of Femina Miss India). In 2007 Agrawal was appointed CEO at Pantaloon Retail and then Joint CEO at Future Value Retail. He also incubated, Future Media, a new company, for monetizing the non-retail spaces for the group. In 2012 Agrawal moved to Skechers South Asia as Managing Director. Skechers which had come to India through a JV ran into trouble with differences cropping up between the partners. Agrawal took over as Managing Director Homeshop18 in May 2015.
Reliance Industries Limited owns Homeshop18 through the acquisition of Network18 which happened in 2014. Homeshop18 had plans of listing on New York Stock Exchange to raise $75 million, before the acquisition by Reliance, but later scrapped the proposal as part of re- evaluating its capital raising strategy.