Flipkart's furniture business will be rolled up into the BGMH (books, general merchandise and home) category, Krishnamurthy said.
Flipkart is elevating Adarsh Menon to head a new business initiative, according to an internal mail sent by group CEO Kalyan Krishnamurthy to employees. Sources said Menon may head Flipkart’s B2B (business to business) initiative. Menon till recently held the portfolio of senior VP and head, private brands, electronics and furniture.
FE has seen the mail.
“Being one of India’s leading digital commerce entities, identifying new opportunities for the future has always been one of our primary goals. As we grow in scale and deepen our focus on profitability, building new businesses is a big strategic focus for us. Adarsh Menon will move on to a new business initiative at Flipkart after a successful stint in CDO (category design operations),” Krishnamurthy said in the mail.
Flipkart did not respond to FE’s queries.
Recent media reports indicated that Flipkart is likely to acquire parent Walmart’s India cash-and-carry business. The Bengaluru-based e-commerce major is piloting an online B2B initiative in north India, reports said.
Walmart, which operates 28 best price wholesale cash and carry stores in India, saw its losses widen by a whopping 89% year-on-year to Rs 171.68 crore for the year ended March 2019. Expenses rose to Rs 4,266.88 crore in FY19, compared with Rs 3,778.47 crore in FY18.
In the mail sent earlier this week, Krishnamurthy also announced some “organisational changes effective immediately.” Ajay Yadav, who had been leading the firm’s large appliances and mobile businesses, has been given the additional mandate of the electronics business unit. Rakesh Krishnan, BU head, electronics, will start reporting to Yadav. Krishnamurthy said Yadav has been instrumental in “making Flipkart the preferred destination for mobiles and appliances”.
Flipkart’s furniture business will be rolled up into the BGMH (books, general merchandise and home) category, Krishnamurthy said. Consequently, Kanchan Mishra, BU head, furniture, will start reporting to Nishit Garg, who is VP, BGMH.
“Nishit has been instrumental in transforming the BGMH business over the years, helping it gain a remarkable market share in the industry,” the group CEO said in the mail.
Further, Manish Kumar has been nominated to spearhead the private label business. Kumar has been driving the BGMH business with Garg and has also built the grocery business for Flipkart from the scratch.