Wednesday 22 July 2015

Ananth Narayanan appointed as Myntra's new CEO

Flipkart-owned mobile fashion store Myntra has appointed McKinsey director Ananth Narayanan as its chief executive officer. He will be taking over from the co-founder Mukesh Bansal who is currently serving as the head of Flipkart's commerce platform. Prior to this, Narayanan was leading McKinsey's product development in Asia and its Automotive Practice in India.

ET had reported last week that Myntra is scouting for a new chief executive officer as Bansal is fully involved with his role of taking the country's largest e-commerce firm to the next level. A Myntra spokesperson had however then told ET that they "are not in the process of hiring for the position of CEO".

Narayanan's appointment comes at a critical juncture for the e-tailer which recently took a bold gamble of shutting down its web presence to go app-only, a move which is being shortly emulated by its parent Flipkart. This move also triggered a frenzied debate among Indian startups on whether startups should kill their web presence to focus only on their mobile offering or should they continue to consider the web platform as an important channel.

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