Flipkart’s Senior VP Rishi Vasudev to lead Myntra-Jabong fashion & lifestyle division
The reshuffle at Mytra and Jabong hasn’t yet completed. Soon after the elevation of Amar Nagaram as CEO of Myntra and Jabong, Flipkart Group has named Rishi Vasudev to head fashion and lifestyle category of the newly merged entity.
After serving for more than four years as vice president at Flipkart, Vasudev was recently promoted as senior vice president at the e-commerce major.
Quoting anonymous sources an ET report said that Nagaram will head product, tech and customer experience. Both Nagaram and Vasudev will have to report to Flipkart CEO Kalyan Krishnamurthy.
Prior to joining Flipkart, Vasudev had an eight months stint as CEO of Calvin Klein in India.
The elevation of Vasudev and Nagaram comes after the departure of Narayanan from Myntra. He is expected to join video streaming giant Hotstar. Apart from Narayanan, Myntra’s chief revenue officer (CRO) Mithun Sundar and Human Resources head Manpreet Ratia also had put in their papers.
Following Narayanan’s exit, some more top-level exit or handing out diminished roles within Flipkart Group are expected. Earlier, former strategy head Ananya Tripathi, former chief financial officer Dipanjan Basu and former Jabong head Gunjan Soni have resigned.
Moreover, a clutch of key executives have also been transferred from Flipkart to Myntra and vice versa.
Financial performance of Myntra in FY18 was surprising as its revenue took a nosedive by 79 per cent from Rs 2,038.1 crore in FY17 to Rs 427.74 crore in the last fiscal. Analysts claim that a large part of Myntra’s revenue was transferred to the new enterprise that was formed after the company acquired one of its largest competitors, Jabong.
Source: Entrackr
