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Tag: Kenny Shin

  • Changa onboards Kenny Shin as its global advisor

    Changa onboards Kenny Shin as its global advisor

    Mumbai: Homegrown short video app Changa has brought on board Kenny Shin as its global advisor. He will play an instrumental role in helping the application grow and reach its maximum potential.

    Shin is an international market leader with deep expertise in the Indian consumer market. Previously, he has served the pharmaceutical company Kyungbang Nature as president. Oh-Max and Shop CJ as CEO, and has advised overseas business for CJ O shopping. He is also a co-founder of C&S Nature.

    “I am thrilled to be a part of the Changa Team with a focus on building a strong community,” said Shin. “It’s an exciting time to be a part of one of the rapidly growing short format video apps in India. Changa’s enthusiasm in the industry and the will to attract the right talent to provide them a supportive platform really made me join this great team.”

    Shin is an author of ‘Riding on Indian Elephant’, which has spoken about ‘Indian Economy and Business Perspectives’ on more than one occasion. He is known to have a massive interest in the Indian marketing industry. A combination of all of which would help boosts Changa’s upcoming social commerce venture.

    “Having previously worked with Shin, he is one of the best international market leaders out there with vast knowledge of heading business of $ four billion sizes in commerce (television and Web, and many more industries),” said Changa CEO and co-founder Abhay Ojha. “With Changa stepping into the social commerce industry, his expertise would help us a lot to reach our goals at the global level.”

    “This is a really significant addition to the team, given the fact that we are currently building products which would change the dynamics of the creator economy in the social commerce space. We are thrilled to have Kenny on board as our global advisor and mentor,” added Changa co-founder Shubham Agarwal.

    Changa boasts 15 million active users and three million creating content every day, with 150 million videos as part of the content library. The creator economy at an all-time high in India, Changa is likely to keep growing to make pace with the upcoming trends, the platform said.

  • Not sacked, going back to handle different responsibilities: Kenny Shin

    Not sacked, going back to handle different responsibilities: Kenny Shin

    MUMBAI: The Home shopping business in India which has major players Home Shop 18, Shop CJ, Den – Snapdeal, Naptol and the latest entry Best Deal TV, was rattled by reports of two senior officials of Shop CJ Network moving. There were rumours of CEO Kenny Shin and CFO Ramakrishnan N being sacked by the top management. 

    “Not sacked, just going back to handle different responsibilities” says Shin in an exclusive interaction with Indiantelevision.com. “We have performed better than we expected and hence sacking for underperformance is beyond question,” he adds.

    “Rs 850 crore was our estimate and we have had sales of Rs 900 crore which shows we over performed. We re-branded ourselves, we transformed from Star CJ to Shop CJ, launched two regional channels. So it has been an action packed year for us,” explains Shin.

    A few months ago, in an interview with Indiantelevision.com, Shin had shared a different number for sales estimates. He had said, “We are poised to cross Rs 1,200 crore turnover this year, recording a 40 per cent growth over sales of Rs 850 crore achieved in the last calendar year. Our channel reaches to more than 6.5 crore households in India and currently caters to about 40 per cent of the market.”

    Costs incurred by the company have also gone up significantly this year. As per information from a source close to the development, Shop CJ spent around Rs 70 crore last year (2014 – 15) which skyrocketed this year. “We were looking at spends of Rs 200 crore from the very beginning, as I told you earlier, we were looking ahead at this year to garner maximum reach and sales and hence higher spends were done to have better marketing and distribution,” asserts Shin.

    What about the CFO Ramakrishnan N? Has he also been moved to take on other responsibilities? “No!” exclaims Shin. “He has two daughters and a family in Bengaluru, and since the past one year he has been traveling a lot to and fro, which was getting difficult for him. So he decided to step down as the CFO and will now move back in with his family. He has done a wonderful job as the CFO and we wish him best of luck,” Shin adds.

    “I am headed back to Korea by this month end and it was a great four year journey in India” Shin concludes.

    Meanwhile the network has announced SR Yoon as the new CEO of Shop CJ India to replace Kenny Shin, and in an official letter to its employees mentioned it is looking for a new CFO.

  • Not sacked, going back to handle different responsibilities: Kenny Shin

    Not sacked, going back to handle different responsibilities: Kenny Shin

    MUMBAI: The Home shopping business in India which has major players Home Shop 18, Shop CJ, Den – Snapdeal, Naptol and the latest entry Best Deal TV, was rattled by reports of two senior officials of Shop CJ Network moving. There were rumours of CEO Kenny Shin and CFO Ramakrishnan N being sacked by the top management. 

    “Not sacked, just going back to handle different responsibilities” says Shin in an exclusive interaction with Indiantelevision.com. “We have performed better than we expected and hence sacking for underperformance is beyond question,” he adds.

    “Rs 850 crore was our estimate and we have had sales of Rs 900 crore which shows we over performed. We re-branded ourselves, we transformed from Star CJ to Shop CJ, launched two regional channels. So it has been an action packed year for us,” explains Shin.

    A few months ago, in an interview with Indiantelevision.com, Shin had shared a different number for sales estimates. He had said, “We are poised to cross Rs 1,200 crore turnover this year, recording a 40 per cent growth over sales of Rs 850 crore achieved in the last calendar year. Our channel reaches to more than 6.5 crore households in India and currently caters to about 40 per cent of the market.”

    Costs incurred by the company have also gone up significantly this year. As per information from a source close to the development, Shop CJ spent around Rs 70 crore last year (2014 – 15) which skyrocketed this year. “We were looking at spends of Rs 200 crore from the very beginning, as I told you earlier, we were looking ahead at this year to garner maximum reach and sales and hence higher spends were done to have better marketing and distribution,” asserts Shin.

    What about the CFO Ramakrishnan N? Has he also been moved to take on other responsibilities? “No!” exclaims Shin. “He has two daughters and a family in Bengaluru, and since the past one year he has been traveling a lot to and fro, which was getting difficult for him. So he decided to step down as the CFO and will now move back in with his family. He has done a wonderful job as the CFO and we wish him best of luck,” Shin adds.

    “I am headed back to Korea by this month end and it was a great four year journey in India” Shin concludes.

    Meanwhile the network has announced SR Yoon as the new CEO of Shop CJ India to replace Kenny Shin, and in an official letter to its employees mentioned it is looking for a new CFO.

  • SR Yoon replaces Kenny Shin as CEO of Shop CJ India

    SR Yoon replaces Kenny Shin as CEO of Shop CJ India

    MUMBAI: Shop CJ Network has announced SR Yoon as the new CEO of Shop CJ India in place of  Kenny Shin, subject to obtaining the necessary approvals from the Government of India.

    Yoon will continue to be based at the headquarters of the parent company CJ O Shopping at  Seoul.                                                                              

    After the recent successful forays of Shop CJ-Tamil and Shop CJ-Telugu on 24×7 home shopping channels with specially designed and customized content for Tamil and Telugu speaking population, Shop CJ CEO Kenny Shin is going back to the parent company CJ O Shopping  Co. Ltd., which is in the midst of major overseas expansion. Yoon will assume responsibilities in his place. 

    “It is undoubtedly very exciting to be in one of the fastest growing markets in the world” said Yoon, who has worked previously with Samsung as CEO Australia and in its marketing division before moving to CJ O Shopping last year.

     Shop CJ India COO Dhruva Chandrie will now take responsibility for overall operational matters of Shop CJ. Additional to the marketing and operations departments, finance, planning, IT and E‐commerce will also report to him. In addition, N. Ramakrishnan has decided to step down as the CFO of the company to pursue other interests. The Board has initiated a search to fill the role of CFO and Shop CJ will have a new CFO soon.

    Commenting on the move Shin said, “The last 4 years in India have been excellent for Shop CJ. I have enjoyed my India stint and it was a period of great learning and achievements.”  Shin has more than 20 years experience in home shopping. He has worked in Korea, US and India. Global giant from South Korea, CJ O follows the policy of rotating its senior leadership assigned with overseas roles. Shin had been instrumental in driving several strategic initiatives at the company and successfully transforming Shop CJ during his tenure in India.

    Shop CJ is slated to achieve more than 900 Crore revenues this fiscal, bettering its earlier estimates of 850 Crore. It started operations six years ago in India. India is one of the fastest growing operations for CJ Network globally.

    Further commenting on the appointment, Yoon said, “I am glad at the prospect of spearheading the India operations for the CJ Network. India is an exciting country, a complex market with huge opportunities and interesting challenges. Shop CJ has a more robust strategy, culture and talent in India than ever before, a must for a sustainably fast growing business. With the continuation of strong leadership, we are poised to grow here. My role would be to enhance the opportunities and reduce the challenges. I believe we will be able to ensure and continue our growth in the market while delivering world-class shopping experience to our customers.”

    Providence Equity Partners Group, investor in Shop CJ, is in full support of the management decisions and is confident on company’s accelerating growth in India foreseeing positive outlook in the market.

  • SR Yoon replaces Kenny Shin as CEO of Shop CJ India

    SR Yoon replaces Kenny Shin as CEO of Shop CJ India

    MUMBAI: Shop CJ Network has announced SR Yoon as the new CEO of Shop CJ India in place of  Kenny Shin, subject to obtaining the necessary approvals from the Government of India.

    Yoon will continue to be based at the headquarters of the parent company CJ O Shopping at  Seoul.                                                                              

    After the recent successful forays of Shop CJ-Tamil and Shop CJ-Telugu on 24×7 home shopping channels with specially designed and customized content for Tamil and Telugu speaking population, Shop CJ CEO Kenny Shin is going back to the parent company CJ O Shopping  Co. Ltd., which is in the midst of major overseas expansion. Yoon will assume responsibilities in his place. 

    “It is undoubtedly very exciting to be in one of the fastest growing markets in the world” said Yoon, who has worked previously with Samsung as CEO Australia and in its marketing division before moving to CJ O Shopping last year.

     Shop CJ India COO Dhruva Chandrie will now take responsibility for overall operational matters of Shop CJ. Additional to the marketing and operations departments, finance, planning, IT and E‐commerce will also report to him. In addition, N. Ramakrishnan has decided to step down as the CFO of the company to pursue other interests. The Board has initiated a search to fill the role of CFO and Shop CJ will have a new CFO soon.

    Commenting on the move Shin said, “The last 4 years in India have been excellent for Shop CJ. I have enjoyed my India stint and it was a period of great learning and achievements.”  Shin has more than 20 years experience in home shopping. He has worked in Korea, US and India. Global giant from South Korea, CJ O follows the policy of rotating its senior leadership assigned with overseas roles. Shin had been instrumental in driving several strategic initiatives at the company and successfully transforming Shop CJ during his tenure in India.

    Shop CJ is slated to achieve more than 900 Crore revenues this fiscal, bettering its earlier estimates of 850 Crore. It started operations six years ago in India. India is one of the fastest growing operations for CJ Network globally.

    Further commenting on the appointment, Yoon said, “I am glad at the prospect of spearheading the India operations for the CJ Network. India is an exciting country, a complex market with huge opportunities and interesting challenges. Shop CJ has a more robust strategy, culture and talent in India than ever before, a must for a sustainably fast growing business. With the continuation of strong leadership, we are poised to grow here. My role would be to enhance the opportunities and reduce the challenges. I believe we will be able to ensure and continue our growth in the market while delivering world-class shopping experience to our customers.”

    Providence Equity Partners Group, investor in Shop CJ, is in full support of the management decisions and is confident on company’s accelerating growth in India foreseeing positive outlook in the market.

  • Top-level changes at Shop CJ; CEO Kenny Shin to head back to Korea

    Top-level changes at Shop CJ; CEO Kenny Shin to head back to Korea

    MUMBAI: Home shopping ain’t an easy business. Definitely not in India. Ask Shop CJ CEO Kenny Shin. The South Korean is slated to catch a flight back to his home country very soon after serving four years and one month at the joint venture between the South Korean home shopping major CJ O Shopping and P5 Asia Holding Investments (Mauritius) Ltd (which belongs to the Providence Equity Partners group). 

    Shin calls his movement back to South Korea a routine transfer. “This is something which happens  with our South Korean parent,” he told indiantelevision.com late on the night of 11 March. “We are rotated around in our various operations world wide.”

    A source, however, had informed indiantelevision.com earlier in the day that Shin was actually shown the door by the company’s board. Along with him, the company CFO Ramakrishnan N was also asked to quit.

    “After reviewing last year’s performance during its board meeting today, the company has decided to sack two senior officials for having a non-performing year,” the source told us. “Its performance has fallen 32 per cent compared to last year.”

    However, Shin repeatedly denied that anyone was being booted out. “It is a routine transfer, that is all it is. No decision has been taken about our CFO as yet,” he stated. “We will be issuing an official statement tomorrow.”

    Indiantelevision.com, however,  managed to get hold of the official communication circulated to Shop CJ employees which has something else to say:  “Mr. N. Ramakrishnan (Ram) has decided to step down as CFO of the Company to pursue other interests. While as CFO, Ram helped the Company establish effective financial systems and controls, and we thank him for his leadership and contribution to the Company, and wish him the best in his future endeavors. The Board has initiated a search to fill the role of CFO for ShopCJ. The changes above are effective immediately.”

    Shin joined the company in February 2012, from CJ O Shopping, the Korean conglomerate, where he was in a key leadership role, having been with the company since 2002.

    Company officials, however, reached out to indiantelevision.com once again in late May 2016 insisting that there was no sacking at all in March. A senior official stated that Ramakrishnan’s departure was entirely his decision and Shin’s return to South Korea was simply routine in the larger scheme of CJ O Shopping’s management initiatives.

    Shop CJ was earlier a joint venture between CJ and broadcast giant Star India. The latter moved out of the partnership and from the home shopping business and in 2015 the channel was re-branded as Shop CJ.

    (Earlier posted on 11 March 2016 at 7:43; updated at 11:50 pm; updated on 31 May 2016 at 12:43 am)

  • Top-level changes at Shop CJ; CEO Kenny Shin to head back to Korea

    Top-level changes at Shop CJ; CEO Kenny Shin to head back to Korea

    MUMBAI: Home shopping ain’t an easy business. Definitely not in India. Ask Shop CJ CEO Kenny Shin. The South Korean is slated to catch a flight back to his home country very soon after serving four years and one month at the joint venture between the South Korean home shopping major CJ O Shopping and P5 Asia Holding Investments (Mauritius) Ltd (which belongs to the Providence Equity Partners group). 

    Shin calls his movement back to South Korea a routine transfer. “This is something which happens  with our South Korean parent,” he told indiantelevision.com late on the night of 11 March. “We are rotated around in our various operations world wide.”

    A source, however, had informed indiantelevision.com earlier in the day that Shin was actually shown the door by the company’s board. Along with him, the company CFO Ramakrishnan N was also asked to quit.

    “After reviewing last year’s performance during its board meeting today, the company has decided to sack two senior officials for having a non-performing year,” the source told us. “Its performance has fallen 32 per cent compared to last year.”

    However, Shin repeatedly denied that anyone was being booted out. “It is a routine transfer, that is all it is. No decision has been taken about our CFO as yet,” he stated. “We will be issuing an official statement tomorrow.”

    Indiantelevision.com, however,  managed to get hold of the official communication circulated to Shop CJ employees which has something else to say:  “Mr. N. Ramakrishnan (Ram) has decided to step down as CFO of the Company to pursue other interests. While as CFO, Ram helped the Company establish effective financial systems and controls, and we thank him for his leadership and contribution to the Company, and wish him the best in his future endeavors. The Board has initiated a search to fill the role of CFO for ShopCJ. The changes above are effective immediately.”

    Shin joined the company in February 2012, from CJ O Shopping, the Korean conglomerate, where he was in a key leadership role, having been with the company since 2002.

    Company officials, however, reached out to indiantelevision.com once again in late May 2016 insisting that there was no sacking at all in March. A senior official stated that Ramakrishnan’s departure was entirely his decision and Shin’s return to South Korea was simply routine in the larger scheme of CJ O Shopping’s management initiatives.

    Shop CJ was earlier a joint venture between CJ and broadcast giant Star India. The latter moved out of the partnership and from the home shopping business and in 2015 the channel was re-branded as Shop CJ.

    (Earlier posted on 11 March 2016 at 7:43; updated at 11:50 pm; updated on 31 May 2016 at 12:43 am)

  • Shop CJ expands to Telugu market; targets Rs 250 crore revenue from AP, Telangana

    Shop CJ expands to Telugu market; targets Rs 250 crore revenue from AP, Telangana

    MUMBAI: Eyeing a 40 per cent growth in turnover at more than Rs 1200 crore this year, home shopping network Shop CJ has expanded to the South Indian market with the launch of its Telugu language channel with original programming in Telangana and Andhra Pradesh.

     

    Additionally, the company is expecting to generate revenue of Rs 250 crore from Andhra Pradesh and Telangana alone by the next fiscal year 2016.

     

    The company’s recorded sales of Rs 850 crore last fiscal and is poised to grow with the rapid growth of the home shopping market in India. The channel reaches over 6.5 crore households across the country and is currently catering to about 40 per cent of the market.

     

    The new Telugu language Shop CJ channel is available across all major cable and will soon also hop on to the Sun Direct direct to home (DTH) platform.

     

    Shop CJ Network CEO Kenny Shin said, “The home shopping industry is growing rapidly and similar trend is witnessed in Telangana and Andhra Pradesh market. With the launch of 24×7 Telugu home shopping channel, we have begun the process of introducing region-specific niche channels. The Telugu channel will not only enhance our customer base, but it will also offer a great platform for regional brands to expand their penetration. We aim to offer new innovative product categories and change the entire home shopping experience.”

     

    Shop CJ Network CFO N. Ramakrishnan added, “Shop CJ’s channel launch in Andhra Pradesh and Telangana will strengthen its presence in India. We are expecting to generate Rs 250 crore revenue from Andhra Pradesh and Telangana alone by the next fiscal year 2016.”

     

    Shop CJ Network COO Dhruva Chandrie said, “Shop CJ Telugu will offer an array of products that are well researched to match local preferences. Our customisation strategy is built on the principle of offering consumers exactly what they want with full comfort and quality assurance. Communicating through the local language will help Shop CJ to consolidate in Telangana and Andhra Pradesh.”

  • Shop CJ eyes Rs 1200 crore sales in 2016; ties-up with Thomas Cook

    Shop CJ eyes Rs 1200 crore sales in 2016; ties-up with Thomas Cook

    MUMBAI: Home shopping network Shop CJ, which has inked a marketing alliance with travel services company Thomas Cook, is eyeing turnover of Rs 1200 crore in FY 2016, which is a growth of almost 40 per cent.

     

    Speaking to Indiantelevision.com, Shop CJ Network CEO Kenny Shin says, “We are poised to cross Rs 1200 crore turnover this year, recording a 40 per cent growth over sales of Rs 850 crore achieved in the last fiscal ended 31 December, 2014. Our channel reaches to more than 6.5 crore households in India and currently caters to about 40 per cent of the market.”

     

    Through the marketing initiative undertaken by Shop CJ and Thomas Cook, the companies will showcase their ‘Holiday Savings Account.’

     

    Earlier this year, the shopping network rebranded itself as Shop CJ from Star CJ Alive, which marked the conclusion of the treaty between CJ and Star. The transition has been smooth sans any glitches according to Shin. 

     

    “The transition has happened smoothly without any breakdown and we have continued our growth journey. We knew from the beginning that we have the strength to establish ourselves and I am happy to say that we are way ahead of where we were,” he informs.

     

    Star CJ is planning to expand its base with multiple developments in various regions of the country. “Before the end of the financial year 2016, we plan to have our warehouse ready in eastern and southern provinces of the country. In the east, we are looking at Kolkata, which will help us deliver efficiently in the Northeastern states, while for the south we are yet to shortlist a place,” Shin says.

     

    Not ruling out possible tie ups with established e-commerce ventures like Amazon.in, Flipkart etc, he however says, “In the future, we may go in that direction if we feel the need but at the moment, there are no such plans.”

     

    Speaking about the tie-up with Star CJ, Thomas Cook (India) chief innovation officer & head – marketing and service quality Abraham Alapatt says, “Our Holiday Savings Account is a truly innovative product that allows customers to save, earn and travel! Its unique concept allows customers to save via 12 easy instalments while earning an attractive interest (via our Bank Partners Indus Ind, ICICI and Kotak Bank), with further benefits of a Thomas Cook top up on the 13th month and a zero exit penalty. Indeed a significant consumer empowering tool.”

     

    Elaborating on the marketing association, he adds, “Our tie up with Shop CJ gives us access to its extensive network of high potential yet under leveraged travel hungry middle India. Our innovative Holiday Savings Account, is ideally suited to the informative format of Shop CJ’s electronic and online shopping platforms, ensuring visibility-reach, as also the personal touch of our Toll Free number for details and assisted transactions.”

     

    “The home-shopping industry is growing rapidly in India and Shop CJ is expanding its market share by entering into a new segment to create a unique shopping experience for its consumers. Shop CJ, with a footprint of 75 million households will create great value for its consumers with Thomas Cook India’s unique and affordable Holiday Savings Account range of holidays. Travel is seeing impressive demand from Indian consumers and we bring to this partnership an audience, which is yet untapped by organized players in the Travel & Tourism industry,” Shin concludes.

  • Shop CJ appoints Dhruva Chandrie as chief sales officer

    Shop CJ appoints Dhruva Chandrie as chief sales officer

    MUMBAI: Home shopping venture Shop CJ Network announces the appointment of Dhruva Chandrie as its chief sales officer. This appointment is key to further enhance the company’s procurement and operations. Chandrie, previously held the position of chief operating officer (COO) for HomeShop18 and has taken charge of his duties. He brings more than 22 years of experience to the role. He will be based out of the Mumbai office.

     

    Chandrie said, “With more players entering the television-commerce market, there is increase in the level of competition. It will be exciting times ahead.”

     

    TV home-shopping is yet to be explored and optimized to its full potential in India. Considering an expected growth rate of 40 per cent and more companies entering the market, the industry is estimated to reach Rs 50,000 crore in the next five years.

     

    Shop CJ CEO Kenny Shin commented, “Dhruva brings a diverse set of leadership skills, extensive operations expertise and a successful track record that we will leverage across the company. His experience and expertise will not only strengthen our organization but will help us grow the company into the number one Home-shopping player in India.”