Styletag, a fashion e-commerce platform, has hired Michael Adnani as its Chief Executive Officer (CEO), reports The Economic Times. Prior to this, Adnani was the vice president of Flipkart and headed strategic brand alliances, which he left in October last year.
He will be heading the fundraising rounds as well as handle strategy, marketing, products and technology. The company believes that his experience will help the brand in rapid acceleration, expansion and consolidation.
Adnani has over 30 years of experience in retail and e-commerce merchandising. He has also handled marketing and sales operations in his previous roles. He has also been associated with other online retailers like Sears Holdings, Nextag, Overstock etc.
The company also informed that they are looking to hire more such seasoned executives at the Csuite level.
Styletag was founded in 2012 and offers products ranging from clothes and fashion accessories for men and women, home decor, phone accessories, wedding collection to gift items and collectibles.
In November last year, Styletag had raised $7.5 million (Rs 50 crore) from Jitu Virwani, Chairman & Managing Director of the Embassy Group, in his personal capacity. The company had informed then that the funds will be used for product expansion, talent acquisition and acquiring designer brands. It was aiming to establish a GMV of Rs 50-70 crore by the end of 2015. At that time it claimed to clocking 100,000 unit orders that season.