With the reshuffling still alive at Myntra and Jabong after the merger between the two entities, the latest update is that Flipkart group has named Rishi Vasudev as the head of fashion and lifestyle category of the newly merged identity right after Amar Nagaram’s elevation as the CEO of Myntra and Jabong.
Economic Times’ report said that Amar Nagaram will be heading the product, tech and customer experience section while Vasudev will head the fashion and lifestyle section and both, Nagaram and Vasudev will be reporting to the CEO Kalyan Krishnamurthy.
Vasudev, having served for more than 4 years as the Vice President at Flipkart, was recently promoted as the senior Vice President at the e-commerce major. Before joining Flipkart, Vasudev had an 8 month stint as the CEO of Calvin Klein in India.
A bunch of key executives have also been shuffled within the two entities. The elevation of Vasudev and Nagaram came after the departure of Narayanan from Myntra, who is expected to join the video streaming giant, Hotstar. Myntra’s Chief Revenue Officer, Mithun Sundar and Human Resources head Manpreet Ratia have also reportedly threw in the towel.
Some top-level handing out of roles and exits are also expected with the Flipkart group. Ananya Tripathi, former strategy head, Dipanjan Basu, former Chief Finance Officer and former Jabong head, Gunjan Soni also earlier gave their resignation.
The financial performance of Myntra in FY18 was surprising as the revenues came crashing down by 79% approximately from Rs. 2038.1 Crore in FY17 to Rs. 427.74 Crore. Analysts say that this is due to a major transfer of Myntra’s revenue to the new enterprise formed after acquiring Jabong.