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Voonik appoints ex-Groupon executive as chief data scientist

Thursday, January 12, 2017 | More »

Himmat Singh Padode, chief data scientist, Voonik
Fashion marketplace Voonik has appointed ex-Groupon executive Himmat Singh Padode as its chief data scientist, the company said in a statement on Thursday. Padode was previously leading the data team of coupons firm Groupon, from its Silicon Valley headquarters. He has also worked with companies suc...

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Myntra claims high revenue growth at sales event

Even as its loss continues to widen, Flipkart-owned fashion portal Myntra on Friday claimed 160% growth in revenue during its latest edition of the ‘End of Reason Sale’. This is the fifth year of the sale event by Myntra. Myntra’s acquisition of its closest rival Jabong helped the company post...

6 January, 2017 | More »

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Myntra to shut two Gurgaon offices, shift staff to Jabong’s premises

In a bid to cut costs, Flipkart-owned fashion e-tailer Myntra is shutting down two of its offices in Gurgaon and moving around 200 employees to Jabong’s premises in the same city, said a report in a business daily on Wednesday. Myntra had acquired competitor Jabong from Global Fashion Group la...

4 January, 2017 | More »

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Myntra’s sales growth slows to 38% in FY16, losses widen

Flipkart-owned fashion e-tailer Myntra posted a revenue of Rs 1,069 crore for FY16, registering 38% year-on-year growth. Losses widened by nearly 10% from Rs 741 crore to Rs 816 crore, according to a report in the Mint newspaper citing regulatory filings. The sales growth of 38% was a sharp fall fro...

30 December, 2016 | More »

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Flipkart, Amazon to bet big on fashion in 2017

Indian e-commerce heavyweights Flipkart and Amazon India are aggressively focusing on the high-margin fashion segment as they aim for profitability in the long run. Both Amazon India and Flipkart are expanding their private labels in addition to exploring more exclusive brand partnerships to open up...

28 December, 2016 | More »

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Flipkart relying on fashion vertical to turn profitable

Online marketplace Flipkart expects its fashion business to turn profitable by the middle of next financial year, according to a report by a financial daily. The company’s chief executive officer Binny Bansal said that Flipkart Fashion would be profitable on EBIDTA level by FY2018, according t...

26 December, 2016 | More »

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Myntra targets $2 bn revenue run rate, profitability in FY18

Flipkart-owned online fashion retailer Myntra said the company has crossed $1 billion in annualised run rate riding on an impressive 80% year-on-year growth, thanks to the $70 million acquisition of Rocket Internet-backed rival Jabong and the peak selling festive season sale events. “This year has...

1 December, 2016 | More »

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Ajit Narayanan is the new CTO of Flipkart-owned Myntra

Bengaluru-based fashion e-tailer Myntra Designs Pvt Ltd’s chief technology and product officer Shamik Sharma has moved on to an advisory role and Ajit Narayanan has been appointed as the new CTO of the Flipkart-owned firm. Narayanan was formerly the head of engineering at the Mukesh Bansal-founded...

28 November, 2016 | More »

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Flipkart may hire I-bankers to raise funds

India’s biggest e-commerce marketplace Flipkart India Pvt. Ltd is reportedly in talks with several investment banks, including the US-based Goldman Sachs Group Inc. to attract investors for a new round of funding. In a report, the Mint on Friday said that the Bangalore-based company “is now cons...

25 November, 2016 | More »

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Jabong sees top-level exits three months after Flipkart buy

Bengaluru-based fashion marketplace Jabong’s chief marketplace officer and head of human resources have quit the firm, just three months after it was bought out by Flipkart’s fashion and lifestyle brand Myntra. “Chief marketplace officer Ranjan Kant and HR head Deepa Chadha have both decided t...

11 November, 2016 | More »

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