Narayanan said while there would be some redundancies as a result of integration of the back-end functions of Myntra and Jabong, it will, however, be less than 10 per cent of the overall headcount
Myntra CEO Ananth Narayanan, who was earlier against the merger of the two fashion e-tail companies, is learnt to be meeting each Jabong employee one-to-one.
Customer insight drives the online fashion retailer to launch 'mood' stores, rethink the way it sells its wares.
No financial details were disclosed.
From almost a thousand employees, 300 have exited the firm.
Nets three more foreign brands for exclusive retailing, but the cost of the business model may be high, say experts.
The Dabangg actor gets candid about her fashion choices.
Amar Nagaram, the chief executive officer of Myntra, has put in his papers after three years of leading the fashion e-commerce platform, and will pursue his own venture. According to an email by Flipkart CEO Kalyan Krishnamurthy to employees, Nagaram will be at Myntra till December-end to ensure a smooth transition, and will continue to be associated in an advisory role. "After nearly three years of leading Myntra, Amar has decided to leave the Flipkart Group to pursue his own venture.
The deal that promises to make Flipkart a leading force in fashion segment - estimated at Rs 3 lakh crore - came after hectic weekend parleys.
"Our artificial intelligence tells us what people are buying at that point, what is in fashion; on the other hand, we have a fair idea of the material available. It gives us a sense of what we should be putting across in the market and we can put them across really quickly," Ananth Narayanan, CEO, Myntra, tells Alokananda Chakraborty.
It took Flipkart a little over 24 hours to complete due diligence and come up with a final offer that was $20 million higher than what Snapdeal was ready to forfeit.
The agreement means consumers will enjoy more choices and varied price points.
In its first acquisition in India, the American online retail giant is planning to buy out the fashion portal
Walmart is rumoured to be looking to listing Flipkart in a few years. At that stage, we'll get a better sense of what's going on in retail, says Devangshu Datta.
With this round of funding, Flipkart's valuation has reached USD 11.6 billion, and US IT major Microsoft joins the marketplace as a strategic investor.
Flipkart, Jabong-Myntra and PhonePe will operate under this group structure and their CEOs will report to Binny
E-commerce major Flipkart has burnt cash of $3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings. Flipkart had $1 billion in cash in July 2021, which came down to $887 million by September 2022. The company, in July 2021, raised $3.6 billion (about Rs 29,000 crore), which has been completely exhausted, according to regulatory filings of Flipkart and Walmart.
The People's Choice Survey is an annual report by CashKaro.com, which identifies key trends in online shopping in India.
These top level changes have come soon after Flipkart co-founder and Group CEO Binny Bansal resigned over allegations of serious personal misconduct in November.
Narayanan's strategy of building exclusive brands for Myntra has been a success as well, and more such brands will be added to the portal's offering in the future
Flipkart has long been under the ED scanner for alleged violation of FDI rules.
Jabong has joined hands with 10 boutiques, such as Meo Home Craft (for bags by rural artisans from Tijara, Rajasthan), Rinku Sobti (womenswear), Nidhi Munim, Crazy Palette (clutches & bags) and Uttama Bhatt (ethnic womenswear).
The Walmart chief stated that the values of the two companies were "very much aligned"
There are several discussions going around in the e-health sector for consolidation with key players being PharmEasy, 1mg, Medlife and Netmeds. According to reports, Reliance Jio is in talks with Netmeds to acquire the latter.
Paytm's secondary share sale gave an opportunity to its employees - both former and current - to liquidate their vested Esops and earn around Rs 500 crore in total.
'Shape up or ship out' message has been loud and clear across the new-age companies in the stressed market conditions
Going ahead with its festive sales as per schedule, companies such as Flipkart, Jabong, and Myntra are having week-long Valentines' Day sales, offering discounts of as much as 80 per cent. Amazon India is also offering discounts of almost 40 per cent.
The report, however, did not include sales of Flipkart's subsidiaries Myntra and Jabong.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
Even smaller players like Bluegape.com have launched T-shirts, cups, wall clocks and other products inspired from the fan community.
Buoyed by the success of e-commerce players like Jabongand Myntra, textile companies like Arvind Ltd, TT Ltd and Creative Lifestyles, among others are exploring the online market through their own e-commerce platforms.
With over 200 brands and websites as participants this year, the Google Online Shopping Festival is turning bigger.
Consumers are opening up their wallets for intangible promises.
His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct. Bansal, however, denies the allegations.
No longer an in-house task; hiring legal eagles is now becoming norm for M&As, fundraising
Most of Flipkart's business came from consumer electronics.
Flipkart has seen 33 per cent growth in past 6 months despite slowing e-commerce business and stiff competition from Amazon.
What sold the most this year? Beauty, toys and baby care, sports and fitness, television and large appliances, followed by fashion, says T E Narasimhan.
Amazon Fashion flaunts its triple digit month-on-month growth, races ahead of competitors Flipkart, Jabong and Myntra.
Vogo, which has a fleet of over 12,000 vehicles mainly across Hyderabad, Mysuru and Bengaluru, is also betting big on India's growing traffic congestion.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances