A world where the simple act of serving becomes the cornerstone of a life’s journey, culminating in a brand synonymous with customer care. It sounds utopian, but one man’s vision became Indian retail’s biggest success story. That’s precisely the narrative behind SERVE Business from the Heart — the SHOPPERS STOP Way, the book penned by BS Nagesh, Non-Executive Chairman of Shoppers Stop and an absolute retail icon. Through his book, Nagesh peels back the layers of his incredible journey, from childhood aspirations to serve his country to revolutionizing retail in India.

Why “Serve”?

“The name came about during the book-writing process,” Nagesh shares, crediting his co-author, Ritu D Ferrao, for uncovering this unifying thread in his life. “She pointed out that I used the word ‘serve’ repeatedly — from my childhood dream of serving the country as an army officer, to my teenage years as a badminton champion known for my service, and later, my commitment to serving customers and employees at Shoppers Stop.”

The journey of service didn’t stop there. At 50, Nagesh stepped away from his role as Managing Director to establish a charitable trust aimed at serving the community. “When we paired it with the tagline ‘Business from the Heart: The Shoppers Stop Way,’ it felt like a perfect fit,” he says. The name “Serve” encapsulates a lifetime of actions driven by a singular purpose—to serve.

The Birth of the “Customer Care Associate”

Shoppers Stop’s culture of care is deeply ingrained in its DNA. Nagesh recounts how an incident in the early 1990s led to a groundbreaking change in designations at the company. Two high-performing associates resigned because their families looked down on the title “sales boy.”

“We realized that something as simple as a designation could affect dignity,” he explains. After brainstorming, the team landed on ‘Customer Care Associate.’ “It resonated with our ethos of care for both customers and employees. We even changed our office name from ‘Head Office’ to ‘Service Office’ to reinforce this mindset,” he adds.

This small change had a profound impact. “It broke hierarchical barriers. If someone asked a general manager a customer-related question, they couldn’t say, ‘That’s not my job.’ They had to step up because they were, first and foremost, a Customer Care Associate.” The designation became so unique that Nagesh even registered it as intellectual property. Till date the leadership of Shopper Stop use the designation – ‘Customer Care Associate and CEO/MD’. 

Crossing Over to the Literary World

Writing “Serve” was no less challenging than building a retail empire. “Talking to an audience is one thing, but expressing yourself in a book is another,” Nagesh admits. Despite two previous failed attempts at writing, he persisted.

“It took six months for my co-author and me to find the right tone,” he says. “My wife and daughter, both avid readers, critiqued and edited drafts until we got it right. After 15 months of effort, the book finally took shape.”

Unlike technical business guides, “Serve” weaves life lessons into the narrative. “It’s not a business book or an autobiography. It’s a story of building a brand with heart,” Nagesh emphasizes.

Choosing Crosswords as the book’s publisher was another heart-driven decision. Nagesh shares how Shoppers Stop’s sold the book business to the Gupta family, passionate book lovers who believed in the enduring power of the written word. “When the world thought books were dying, they showed me how books could thrive,” he says. The collaboration was a natural fit. “They were both publisher as well as retailer. It was the easiest decision.”

Ignorance, Inquisitiveness, and a Stupid Dream

Looking back, Nagesh attributes Shoppers Stop’s genesis to “ignorance, inquisitiveness, and a stupid dream.” As a young professional managing a chain of small footwear stores, he grew tired of their limitations. “I dreamed of a 50,000-square-foot store, an idea unheard of in India then,” he recalls.

Fate intervened when Nagesh’s boss tasked him with developing a commercial space of that exact size. “With no blueprint for large retail stores in India, I relied on curiosity and a willingness to learn,” he says. “In 90 days, we conceptualized Shoppers Stop.”

The journey was far from smooth. “We faced challenges every step of the way,” Nagesh says. “But my father’s advice—‘Find a solution’—always guided me. Every problem became an opportunity to innovate.”

Today, Shoppers Stop stands as a testament to Nagesh’s vision. “Over 65 percent of our growth comes from within,” he shares. “It’s a culture of nurturing talent and fostering a sense of ownership.”

Through “Serve,” Nagesh hopes to inspire others to lead with empathy and purpose. “It’s about finding solutions, building relationships, and creating a positive impact,” he says. “Whether in business or life, serving others is the ultimate measure of success.”

Journey of Shoppers Stop

Shoppers Stop began its journey in 1991 when K. Raheja Corp launched the first store in Andheri, Mumbai. The vision was to create a world-class department store that would cater to the evolving needs of the Indian consumer. Starting with a modest 4,000 sq. ft. space, the brand quickly gained popularity for its international shopping experience, something relatively new to India at the time.

The name "Shoppers Stop" itself has an interesting backstory. "Oh, it took us the longest time to find a name," the founder recalls. "Mrs Raheja saw a shop in Boston named Stop and Shop, and she messaged asking how we liked the name. We said, 'No, ma’am, we don’t copy. Let’s call it Shop and Stop.' Then we thought, 'Shoppers Stop,' and that’s how the name came to be." This process was emblematic of the thoughtful customer-centric approach that would define the brand’s journey.

The first store was a self-service format, a revolutionary concept for the Indian market at the time. "I was clear that I didn’t want a store where customers are served across the counter. Customers should have the freedom to choose," the founder explained. Another innovation was introducing printed bills, which were rare in the 1990s but added an element of trust for customers. The brand also emphasized the use of technology from the very beginning to streamline operations and enhance customer experience.

The early success of Shoppers Stop can also be attributed to its unique proposition as the largest men’s store in the city, offering all major brands under one roof—something unheard of in the Indian market. This attracted several premium brands to partner with Shoppers Stop, giving it a significant edge over competitors. Within a year, the brand expanded its offerings to include women’s apparel, and the store’s visual identity evolved with bold black-and-white campaigns that garnered significant attention.

By the late 1990s, Shoppers Stop expanded to major metros across India, marking its presence in Bengaluru, Hyderabad, and Delhi. It distinguished itself by introducing several international and premium Indian labels, creating a niche for itself in the organized retail sector. Its marketing campaigns were groundbreaking, including being one of the first Indian campaigns to be featured in the New York Director's Guild book in the mid-1990s.

In the early 2000s, Shoppers Stop listed on the Bombay Stock Exchange, signaling its strong growth and ambitious plans for expansion. The brand diversified its portfolio by entering into partnerships with global beauty and fashion brands, further strengthening its appeal to urban, upwardly mobile consumers.

The Secret Sauce of SS

For decades, Shoppers Stop has been the unshakeable juggernaut of Indian retail. While competitors have risen and fallen, rebranded, or vanished altogether, this retail giant has not only survived but thrived. What’s the secret behind its enduring success? According to Nagesh, it’s a potent mix of visionary leadership, customer-centric strategies, and unyielding values. “First of all, let’s talk about our promoters,” says Nagesh, shedding light on an often-overlooked aspect of Shoppers Stop’s DNA. “Rarely do promoters give professionals the freedom to act like owners. I was fortunate to be the first employee of the company and had the chance to run the business as if it were my own. That’s a rare kind of empowerment.”

This trust in professional leadership, combined with a clear focus on core competencies, has allowed Shoppers Stop to weather challenges that might have sunk others. “We’ve been ambitious but always remained within the framework of our abilities, capabilities, and finances,” says Nagesh. “When something didn’t work, we didn’t let it drag us down. We closed it and moved on.”

The Loyalty Game

At the heart of Shoppers Stop’s success lies its unparalleled customer loyalty program—the First Citizen Club. “Even today, 75-80 percent of our business comes from this program,” Nagesh reveals. “In some stores, like the one in Bandra, 95 percent of the customers are First Citizens. It’s like a private club for our customers, their home store. That’s the main reason we’ve survived.” 

This deep-rooted customer connection goes beyond transactions. It’s about creating an emotional bond. “We even have an anthem for our customers,” Nagesh adds. “Every day, at 10:45 AM, across the company, 10,000-15,000 people sing this anthem. Maybe the almighty hears it and blesses us,” he chuckles. But on a serious note, this ritual reinforces the company’s customer-first ethos.

Turning Challenges into Triumphs

Shoppers Stop’s journey hasn’t been without its share of hurdles. From technology setbacks to market competition, the company has faced it all. One of the most dramatic episodes came during their IPO in 2005.

“Just a day before the IPO, there was a stay order,” Nagesh recalls. “We rushed to the Supreme Court overnight, presented our case, and got a judgment within an hour. The IPO was delayed by just a day and was subscribed 17.5 times. It was a testament to our resilience.”

Another critical moment came when the company decided to implement a world-class ERP system at a time when its turnover was just Rs 50-70 crore. “The ERP cost Rs 12 crore, and its implementation was a disaster initially. We lost Rs 20-25 crore the following year because we had no clue about our inventory. But we didn’t give up. It took a year of struggle, but we bounced back. Giving up was never an option.”

Competing with Giants

The retail landscape has always been fiercely competitive. When a major competitor entered the market and poached five senior executives from Shoppers Stop, Nagesh admits it felt like losing an arm. “But the team stood by us, and we rebuilt the business from within,” he says.

The arrival of international brands in India further upped the ante, particularly in the fashion segment. “These brands increased the pie for Western wear in the country. While we’ve maintained our share, getting a bigger slice has been challenging,” Nagesh explains. “But our strength in ethnic wear and partnerships with emerging designers have helped us stay relevant.”

Pioneering Omnichannel Retail

Shoppers Stop was a pioneer in omnichannel retail, launching its first online initiative back in 1998-99. “We were the first Indian retailer to start an online business,” Nagesh says. “But it was a great vision with no business plan. I couldn’t justify it to the board because I had no idea about cash flows or profitability.”

Years later, as e-commerce giants like Amazon and Flipkart gained dominance, Shoppers Stop made significant investments in online retail but faced new challenges. “The online market became heavily discounted,” Nagesh notes. “In categories like fashion and apparel, 70 percent of online business is discounted. We realized that bleeding money to compete wasn’t sustainable.”

Instead, the company pivoted to a unique omnichannel approach. “With 75 percent of our customers in the First Citizen Club, we focused on offering them online services as an extension of our physical stores. It’s about serving customers better without bleeding profits,” he explains.

Shoppers Stop’s ability to nurture partnerships has also been a cornerstone of its success. “Many iconic Indian brands and designers started with us,” Nagesh says proudly. “Anita Dongre, for example, wrote a recommendation for me, saying how we helped her as a young designer. Partnerships like these have been crucial.”

These collaborations extended to vendor relationships, which Nagesh emphasizes as critical. “Our vendor partners have been integral to our journey. It’s about building an ecosystem where everyone grows together.”

A Philosophy Rooted in Solutions

For Nagesh, the key to overcoming challenges lies in focusing on solutions rather than problems. “My father taught me that dwelling on problems won’t solve them. Look for solutions, and the problems will fade away,” he says.

This philosophy is evident not only in Shoppers Stop’s corporate strategy but also in Nagesh’s personal ventures, like the TRRAIN (Trust for Retailers and Retail Associates of India) initiative. “When I started TRRAIN, people told me I had no clue about charity work. But my dream was to make millions of retail employees feel valued. Today, Retail Employees Day is celebrated by 20-22 million people in 33 countries. That’s the power of dreaming big and finding solutions.”

"I’ve never shared this before," Nagesh reveals. "This whole thing started with guilt." In the early 2000s, as a managing director, Nagesh found himself reflecting on the front-end employees—the unsung heroes of the retail ecosystem. Despite their pivotal role in the industry’s success, their lives remained stagnant.

“While the organizations, promoters, and stakeholders were thriving, many front-line workers, who made businesses valuable, were left behind. They hadn’t beaten inflation; they hadn’t grown.” His voice carries the weight of witnessing three employees who started their careers with him in 1991 remain stuck in the same positions decades later. It was a stark realization.

The Bigger Picture: Retail 2.0

When asked about the future of retail, Nagesh distills his insights into two words: experience and convenience. “It’s not about channels—omnichannel, online, or offline. It’s about who can deliver the best experience and convenience to a targeted customer,” he asserts.

Experience encompasses product quality, pricing, and seamless delivery, while convenience is driven by technology and innovation. “Retailers who master these two elements will thrive, regardless of their format,” he predicts.