1. Flipkart-owned Jabong hit by exit of 2 senior executives

Flipkart-owned Jabong hit by exit of 2 senior executives

Jabong, the fashion marketplace owned by Flipkart, has seen the exit of its two senior executives — chief marketplace officer Ranjan Kant and its HR head Deepa Chadha.

By: | Bengaluru | Published: November 12, 2016 6:22 AM

Jabong, the fashion marketplace owned by Flipkart, has seen the exit of its two senior executives — chief marketplace officer Ranjan Kant and its HR head Deepa Chadha. These departures come within three months of Jabong being acquired by Myntra, also owned by Flipkart.

Following these exits, the operations and HR teams will report into Muralikrishnan, the chief operating officer, who will lead the product and technology divisions.

Myntra CEO Ananth Narayanan in a communication to the employees has said that a new structure is being put in place to further accelerate Jabong.

The changes will be implemented in the next two weeks.

Kant had joined the company in January from Snapdeal where he was its head of strategy. HR head Deepa Chadha joined Jabong in February. She will be replaced by Parul Gupta who will be joining Jabong soon. Gupta was with Citibank earlier.

Myntra acquired Jabong in July this year for $70 million beating other suiters such as e-commerce firms Snapdeal and Aditya Birla Group-owned Abof.

Myntra had announced recently that Jabong closed October with the first ever positive unit economics month. October saw a month-on-month growth of 50% in net revenues, it said.

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