My Weblog: kutahya web tasarim umraniye elektrikci uskudar elektrikci umraniye elektrikci istanbul elektrikci satis egitimi cekmekoy elektrikci uskudar kornis montaj umraniye kornis montaj atasehir elektrikci beykoz elektrikci

Myntra, Jabong to merge soon; Ananth Narayanan to head the team

Myntra, Jabong to merge soon; Ananth Narayanan to head the team

131

Fashion retail brand Myntra is soon going to merge with its sister company Jabong and Ananth Narayanan will lead the amalgamated entity as its Chief Executive Officer.

Ananth NarayananE-commerce giant Flipkart acquired online fashion portal Myntra in 2014 and Myntra acquired Jabong in 2016.

“As the next step in this process, Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance and creative team,” said the company.

The company added that Myntra’s independence as a brand will continue to remain the same and the team will continue to operate independently.

“The closer integration of Myntra and Jabong is a necessary step in our continuing development. By better aligning our resources with our long-term plans, we can put the best structure in place to serve our sellers and brand partners and ultimately benefit our customers,” it added.

The development comes just days after the resignation by Flipkart group chief executive officer and co-founder Binny Bansal following a probe into an alleged “serious personal misconduct”. Bansal, however, has denied the allegations.

In August 2018, US retail giant Walmart acquired 77 percent in Flipkart with an investment of $ 16 billion.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for 4th BFSI CTO Summit, Mumbai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.

Subscribe Newsletter