Sundeep Malhotra, CEO, HomeShop18 – India’s first and leading home shopping channel has been conferred the CEO of the Year Award 2011 at the 7th edition of the coveted Reid & Taylor Awards for Retail Excellence – a part of Asia Retail Congress. HomeShop18 has also been presented with the Retail Leadership Award and Innovative Retail Concept of the Year for their outstanding contribution in the Retail sector.
The award recognizes Mr. Sundeep Malhotra’s pioneering vision in the virtual retail and for establishing a credible home shopping industry in India. The idea of Home Shopping was initially received with skepticism and mistrust, but Mr. Malhotra with his keen insight & relentless belief in the business model, worked hard towards creating and developing India’s most credible shopping channel. Keeping the customer’s needs at the core, he has successfully made HomeShop18 well known in over 3000 cities across India and created a solid customer base of over 3.5 million customers.
On being awarded with the “CEO of the Year Award”, Sundeep Malhotra, CEO HomeShop18, said, “We are elated on the achievement; the recognition bestowed upon us by Asia Retail Congress is very encouraging. We are enthused by the response from the market as well as the retail fraternity and this would only fuel our passion to deliver the best. HomeShop18 is certainly changing the way India shops. It is helping drive consumerism, creating demand for producers and suppliers. We attribute our success to the dedicated team at HomeShop18 and our customers who have shown unwavering faith and confidence in HomeShop18 to bring best of the brands at great value, since its inception.”
Reid & Taylor Retailer is a business award presented to exclusive brands or multi-brand retailers from the world of fashion, food, beauty, leisure, entertainment and others; who have shown exceptional growth and expansion within the boundaries of its operation in the previous year. These awards aim at recognizing the growing impact of retail and aim to discus and influence the issues of change.
A pioneer of the home shopping space in India, HomeShop18 has set benchmarks for excellence in modern retailing. Today, HomeShop18 offers over 450 reputed brands such as Whirlpool, Samsung, Reebok, Lee, Spice, Sony, Sia and many more who have chosen HomeShop18 as an Alternative Distribution Platform. HomeShop18 has seen a growth of 124% (FY10 over FY09) and is confident of achieving bigger benchmarks in the current year.
Today, HomeShop18 has a team of over 650 members, selling more than 1, 00,000 SKUs which are distributed across 3000 towns and cities in India. Selling across different product categories like electronics, apparel, jewellery, appliances, books, etc., the channel gets a new customer every 6 seconds.