Myntra, the online fashion portal now owned by Flipkart is also undergoing top management reshuffle. Also, the company’s co-founder Ashutosh Lawania has quit Myntra as he’s planning to start a new venture. Notably, the company’s other co-founder Mukesh Bansal is also no longer associated with the company.
Ashutosh Lawania, Mukesh Bansal, and Vineet Saxena co-founded Myntra in the year 2007. However, Mukesh Bansal, who was working as Head of Commerce, quit from his role earlier last year. He, along with former Flipkart exec Ankit Nagori, is currently working on his new health-tech venture CureFit, which has raised $15 million even before the official launch of their product.
As a part of this reshuffling process, the fashion company has appointed its marketing chief Gunjan Soni as the new head of Jabong — the online platform it bought last year. After the departure of many of its top-level executives, the Flipkart-owned company is involved in the process of reshuffling its top deck.
Myntra has also named long-time company executive Naresh Krishnaswamy as its head of sales, while human resources head and former Amazon executive Manpreet Ratia will be taking over the supply chain side of the business. Ananth Narayanan, the chief executive of the company, said,
As we continue on our journey to build a long-lasting and innovative fashion and lifestyle destination, we have made some strategic management changes to help drive continued growth.
Over the past six months, the company has witnessed some major top-level departures including chief technology officer Shamik Sharma, head of commerce Prasad Kompalli and head of fashion brands Abhishek Verma.
The latest reshuffle at the company comes at a time when Myntra is attempting to consolidate its position as the market leader in the fashion category. Along with this, the company is also working towards profitability. Earlier, Ananth Narayanan had said Myntra would aim to hit $2 billion in annual revenue run rate and turn profitable during 2017-18.