Myntra to double its leadership team to accelerate growth

Leading online fashion portal Myntra has decided to double its leadership team by the end of this fiscal to drive growth. With an aim of crossing Rs 2,000 crores in gross merchandise value in FY15, Myntra would be a 100-member leadership team across functions by April 2015 all holding positions of associate vice-president and above. The company plans to add about 1,000 professionals to its present 2,000-strong workforce by June 2015. The leadership team will be a mix of seasoned professionals hired from other companies and in-house employees groomed and elevated to the top ranks.

Myntra already has on-board former McKinsey executives Abhishek Verma, Senior Vice-President and Head of Private Brands, Rahul Chaudhury, Vice-President, Strategy and Sidharth Gupta, Vice-President, Head of Strategy and Corporate Development in the last couple of months.

Flipkart has also made changes to its top management, handing over more responsibility to Myntra founder Mukesh Bansal. Flipkart had earlier acquired Myntra to gain hold over the high margin fashion business. The reshuffle also means a higher profile for Ankit Nagori, the marketplace head who will now also now oversee Flipkart’s general merchandise and book-retailing business.