Flipkart brings top Unilever executive on advisory board

India's leading ecommerce major Flipkart has roped in top Unilever executive Sudhir Sitapati as the first of a four member advisory board to help manage and direct fast-paced growth. This Flipkart looks to turn profitable after seven years in the business. Sitapati, a Vice-President who oversees the tea, coffee and ice-cream categories across south Asia and Africa for Unilever will act as a mentor and coach for Flipkart's marketing team.

Moving ahead, the company will rope in more such experienced leaders in different fields like technology and operations. Sitapati, a graduate of the Indian Institute of Management in Ahmedabad will remain at Unilever, even as he serves as an advisor to Flipkart.

Though industry has been speculating over India's biggest e-commerce firm Flipkart going for an IPO in a year, company officials refuted the rumours saying, the firm will remain private at least for the next three years. On the other hand, a recent report by Goldman Sachs said that Indian online retailers such as Flipkart and Snapdeal will need to collectively raise another 20 billion dollars (Rs 1.27 lakh crore) over the next five years to be able to sustain growth.