Retail bigwigs switch cos as competition heats up

A seismic shift is rocking India's retail landscape, with several chief executives of high-profile companies jumping ship and docking with rivals, even as the industry grapples with slowing growth and evolving consumer behaviour that is moving towards value brands.

- Suneera Tandon & Devina Sengupta

From Levi Strauss & Co. to Marks & Spencer (M&S), and from Pepe Jeans London to Bestseller India, a wave of CEO exits underscores a market where established giants are battling both inflation-conscious shoppers and aggressive new entrants, prompting a talent exodus as leaders seek fresh, high-growth horizons.

Industry insiders said several of these executives have also been in the same company for an extended period, prompting them to explore external options.

Amisha Jain, senior vice president and managing director of South Asia-Middle East and Africa (SAMEA) at Levi Strauss & Co (LS&Co), is set to leave the denim maker. She had joined the company from lingerie brand Zivame, where she was the CEO, in June 2022.

The company confirmed the development and wished Jain well for the future. "Yes, we can confirm that Amisha Jain is leaving LS&Co," the company said in a statement. "While we don't have additional news to share for now, we're committed to this important region and are actively recruiting for this role."

Mint could not independently verify Jain's next move.