 "Myntra loses key executives, COO Ganesh Subramanian to venture on his own")
Fashion retailer Myntra has lost two key executives. One is chief operating officer Ganesh Subramanian, who is setting up a consumer technology start-up. The second is human resources head Pooja Gupta. She is leaving Myntra, now owned by Flipkart, after Ananth Narayanan, a former McKinsey partner, was appointed chief executive of the fashion retailer.
A Myntra spokesman said both had spent five years in the organisation. Gupta, who is helping find her replacement, would remain with the company as an advisor.
Narayanan was brought in after Myntra founder Mukesh Bansal began managing the larger e-commerce business of Flipkart. Bansal was also elevated as Myntra chairman. The exits come ahead of the important festival season, when e-commerce companies begin attracting more shoppers to buy goods, on mobiles and online.
Flipkart bought Myntra for $300 million (nearly Rs 2,000 crore) in May 2014, one of the biggest mergers in Indian e-commerce.
Both entities have since been increasingly pushing consumers to download their apps, with Myntra going app-only for its customers to buy goods on mobiles. Myntra has aggressive plans, including building a portfolio of its own private brands that is hoped to earn annual revenue of $100 million each over the next few years.
