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Flipkart reshuffles: Mukesh Bansal is marketing chief, CFO returns to Tiger Global

Flipkart-logoE-commerce marketplace Flipkart, has reshuffled its top management with the founder of fashion portal Myntra Mukesh Bansal given more responsibility, reports the Economic Times.

Mukesh Bansal, who had joined Flipkart after it acquired Myntra in May this year, will now head marketing besides leading all functions related to fashion. He will also be responsible for categories like computers, consumer electronics and marketing.  He will essentially be responsible for creating and aggressively marketing private brands and in-house products like DigiFlip, in his assigned categories.

The ET report also mentions that Ravi Vora, the former marketing chief, has been reassigned and is now tasked with ‘building consumer brands from the ground up’. Flipkart Marketplace head Ankit Nagori also got a higher profile, and will now oversee general merchandise and book-retailing.

With this rejig, Kalyan Krishnamurthy, the interim chief financial officer at the company, will return to Tiger Global, one of the largest investors in Flipkart. Employees of the company were informed about the rejig by the founders Sachin and Binny Bansal, by email on Monday morning. According to a person within the company, Flipkart which so far focused on operations, initiated the reshuffle to focus on its business model, including marketplace, inventory and private brands.

Flipkart has been focussing on getting exclusive tie-ups, private brands and in-house products increasingly in the past few months. The company had entered into an exclusive partnership with California-based TV maker VU to launch its TV’s and with PC Jewellers to offer jewellery on its online marketplace, last month. In September, it had launched a home appliances and personal health care private label called Citron and had launched its own fulfillment service for third party merchants called ‘Flipkart Advantage’.

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Flipkart has also signed MoU’s with the Development Commissioner for Handlooms, FISME, NCDPD and the Director General of Employment and Training to provide logistics to, and list products from SMEs. It had recently also made a strategic investment in the mobile payment company Ngpay, after shutting down its own payment gateway business Payzippy.

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