After three years of being at the helm of FutureBazaar.com, Sankarson Banerjee has resigned, MediaNama has learned from sources. We contacted Banerjee, but he has declined to confirm or deny whether he has resigned. “There will be an announcement on Friday”, we were told.
FutureBazaar.com is the online shopping site by Kishore Biyani’s Future Group and is backed by KPCB and Sherpalo Ventures. In his own words, Banerjee led the company through its conceptualization, launch (in 2007) and fund-raising. Futurebazaar offers over 20,000 products and reaches more than 200 cities and towns in India. It has partnerships with with Blue Dart and Aramex for delivery. Some of the most popular items bought online in 2007-08 were mobiles, home electronics, laptops, MP3 players, T-shirts and gift vouchers.
Financials: The company registered profits of Rs. 3.95 crores over operating revenues of Rs.15.62 crores in FY07-08, according to the Annual Report of Pantaloon Retail. It showed a profitability of 25%, which is good, but lower than that of the group.
The website went through a redesign last year by Wipro Technologies and was supposed to shift to e-commerce platform ATG, which was “expected to improve customer experience, increase customer choices and lead to better business performance.” It recently tied up with Infibeam for an online books store.
Banerjee’s blogs at LotsaFood.
Related
- Future Bazaar Turnover At Rs. 62 Crores; Needs To Get Real On Savings, Reduce Delivery Time
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when IndiaRetailing contacted the official source of Future Group, it dismissed the news. “He has not put in his papers yet. There are lots of speculations going on,” said a company spokesperson.
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