New Delhi, Feb 20 (IANS) E-commerce player Flipkart has realigned its senior management team for the upcoming new business opportunities and Adarsh Menon, Senior Vice President and Head, Private Brands, Electronics and Furniture, is set to head a new business initiative.
According to reliable sources, Flipkart CEO Kalyan Krishnamurthy in a recent email addressed to employees detailed new roles for the senior executives.
“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 email.
Menon may head Flipkart's upcoming business to business (B2B) initiative.
Manish Kumar, vice-president of business development who has built the grocery business, will look after the private label business.
Ajay Yadav, Flipkart's Head of large appliances and mobile businesses, will take charge of the electronics business unit which was under Menon.
Flipkart's furniture business will now be called the books, general merchandise and home (BGMH) category, said Krishnamurthy.
The e-commerce player is in a restructuring mode from the beginning of this yeat to cut losses as competition gets tough.
Flipkart is downing shutters on Jabong and the portal is now redirecting the users to the Myntra website.
Walmart-owned FLipkart had acquired Jabong for $70 million in 2016, but saw a close to 13 per cent drop in app downloads for the brand in December 2019.
Flipkart had acquired fashion e-commerce platform Myntra in May 2014.
Soon after the Walmart acquisition in November 2018, Flipkart merged both Myntra and Jabong.
Recent media reports also claimed that Flipkart may acquire Walmart's cash-and-carry business in India which is not making much headway.