Sunday, June 23

ShopClues Appoints Former V-Mart Retail Executive As Its CFO

Online marketplace ShopClues, run by Clues Network Pvt Ltd has recently appointed former V-Mart Retail Ltd executive Deepak Sharma as its Chief Financial Officer(CFO).

Deepak led the initial public offer(IPO) of retailer V-Mart in 2013 for five years, and has joined the platform to help the e-tailer tap the capital market. He is currently taking stock of internal compliance and corporate governance.

“We are looking to address all the regulatory issues,“ Deepak said.

The report, which cited Shopclues co-founder and CEO Sanjay Sethi, said that the appointment was aligned with the company’s plan to go public in the next fiscal year.

ShopClues has so far raised an estimated $200 million from investors, including Singapore sovereign wealth fund GIC, Tiger Global Management, Nexus Venture Partners and Helion Venture Partners.

ShopClues had also launched its very own home decor and furnishing label Home Berry.

Sethi said, “He (Sharma) is someone who’s already delivered one of the best retail IPOs in the past. We are looking to go public in the next fiscal and are meticulously tracking market sentiments.”