New Delhi, July 7: Former METRO Cash & Carry MD and CEO Arvind Mediratta has joined as CEO of Hippo Stores Technology, a Dalmia Bharat firm which focuses on building products, industry sources said.
Prior to this, Mediratta, a retail industry veteran, was with Metro Cash and Carry India as CEO till May 2023.
On May 11, 2023, billionaire Mukesh Ambani-led Reliance Industries’ retail arm had completed the Rs 2,850 crore acquisition of METRO Cash & Carry India.
As part of the deal, all METRO Cash & Carry India employees and management were absorbed into Reliance Retail. However, Mediratta did not join Reliance Retail.
Mediratta was instrumental in the deal with Reliance Retail Ventures Ltd(RRVL), a subsidiary of Reliance Industries.
Mediratta took over as CEO and Managing Director of Hippo Stores Technology in June, the sources said.
In his new role, Mediratta reports directly to Dalmia Bharat group Chairman and Managing Director Puneet Dalmia, he added.
Hippo Stores is a new business funded by Dalmia Bharat group. It is based on the home depot model but with a strong “home solutions” thrust based on a “do it for you” proposition.
Mediratta joined Metro Cash & Carry in February 2016 and was with the company till it was merged with Reliance Retail.
Mediratta has three decades of experience in wholesale, retail and marketing.
He has also worked with some of the leading companies like Walmart, Procter & Gamble, Whirlpool and Yum! Brands.
Mediratta, an IIT-IIM alumnus, was also the chair of FICCI Committee on Retail and Internal Trade.
Prior to heading METRO Cash & Carry India, Mediratta was with Walmart US, first as Global Officer and Vice-President for Operations (Texas) and then as Global Officer and VP of Merchandising for Fresh. (PTI)
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