Flash sales platform Fashionandyou has announced the appointment of Mahinder Narang as Vice President-Product Management while Sanjay Kumar takes charge of Engineering & Technology.
IIT & ISB alumnus, Narang previously managed product development teams at Jabong, PropTiger and Yatra spearheading consumer internet, online product management and digital strategy. He will be looking after product conceptualisation, design and delivery at Fashionandyou. Kumar has previously been associated with Wadi.com, Yatra.com and eGain Communications. An alumnus of IIT- Kharagpur, Kumar will be focusing on building a high-performance engineering team at the company.
The company is eyeing 50 million dollars (Rs 300 crores) in funding, through a round led by US-based investment fund Morgan Creek Capital. The company’s existing investors Sequoia Capital and Norwest Venture Partners, among others, are also expected to participate in the latest funding round.
Smile Group, which owns and operates Fashionandyou, has undertaken restructuring of its business model to give aggressive competition to the rival online fashion platforms. The group's e-commerce revival bid will be largely driven by Fashionandyou, with support from its lifestyle brand Freecultr and online fashion jewellery shop Juvalia & You.