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Myntra CEO Nandita Sinha to take over Flipkart Fashion
Economic Times
·
1y ago
Medial
Nandita Sinha, CEO of Myntra, is set to head Flipkart Fashion as part of a leadership reshuffle. Arief Mohammad, who was previously leading the fashion business at Flipkart, is leaving the company. The move comes as Sinha takes on additional responsibilities within the Flipkart organization. The spokesperson for Flipkart did not provide immediate comment on the matter.
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Flipkart Fashion head Arief Mohamad to quit after 9 years: Report
Inshorts
·
1y ago
Medial
Flipkart Fashion head Arief Mohamad is set to leave the startup after nine years, Moneycontrol reported. Myntra CEO Nandita Sinha will be assigned additional charge and lead both teams. Flipkart Fashion and Myntra, both owned by US retailer Walmart, will retain their independent structure, despite being led by the same person. Sinha had worked at Flipkart for over eight years.
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India is key strategic market for global brands, says Myntra CEO
Economic Times
·
1m ago
Medial
India's evolving market presents significant strategic importance for global brands, with domestic brands enhancing their propositions. Myntra CEO Nandita Sinha highlights their expansion into Singapore to tap into the Indian diaspora, which already engaged with Myntra's site. The e-commerce platform plans to leverage this growth, focusing on Gen Z and offering personalized, trendy fashion experiences. With e-fashion underpenetrated in India, Myntra aims to capture emerging opportunities, catering to aspirational Indian shoppers across various categories.
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Myntra CPTO Raghu Krishnananda Departs After 5 Years at the Start-Up
OutlookIndia
·
3m ago
Medial
Raghu Krishnananda, Myntra's Chief Product and Technology Officer (CPTO), has resigned after a five-year tenure to explore new opportunities outside the company. Until a new CPTO is appointed, his direct reports will directly report to Myntra CEO Nandita Sinha. Krishnananda's departure marks the second leadership exit from a Flipkart-owned company in two months, following the exit of Flipkart’s CPTO Jeyandran Venugopal. Krishnananda led technology and product functions at Myntra.
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Myntra’s creator programme recorded over 1 million registrations: CEO Nandita Sinha - The Economic Times
Economic Times
·
1m ago
Medial
Myntra's Ultimate Glam Clan program has attracted over a million content creators, enhancing user engagement and conversion rates. The initiative focuses on leveraging video content to cater to the growing Gen Z fashion market online. CEO Nandita Sinha highlighted the potential growth of Gen Z shoppers and the importance of the creator economy in revolutionizing communication. Myntra has also achieved profitability and is expanding in beauty, home categories, and internationally with the launch of new services and investments.
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Myntra's CPTO Exits, Second Leadership Departure in Two Months
OutlookIndia
·
3m ago
Medial
Myntra's Chief Product and Technology Officer (CPTO), Raghu Krishnananda, has resigned after five years to pursue new ventures. Until a new CPTO is appointed, his team will report to CEO Nandita Sinha. This marks the second leadership departure from a Flipkart-owned company in two months, after Flipkart’s CPTO, Jeyandran Venugopal, left earlier. Krishnananda's responsibilities included leading business intelligence, design, product management, IT, and security at Myntra.
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Myntra CEO Nandita Sinha: 40% of International Brand Orders Come from Tier II and III Cities
Startup News FYI
·
1y ago
Medial
Nandita Sinha, the CEO of Myntra, a prominent e-commerce platform under the Flipkart umbrella, has revealed that a significant portion of their international brand orders, approximately 40%, originate from Tier II cities and beyond in India. This article delves into Sinha’s insights, Myntra’s strategies, and its ambitions for attracting GenZ users and expanding its customer base. Click on the "View Source" button below to read more.
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Myntra secures $54 million fund infusion from parent Flipkart
Economic Times
·
1y ago
Medial
Flipkart-owned online fashion platform Myntra has received a $54 million investment from Flipkart, its second investment in a year. Myntra has been facing stiff competition from rivals such as Ajio and Tata Cliq. The company has been focusing on expanding its portfolio of international brands, with premium offerings showing strong growth. However, a research note by Bernstein revealed that while Myntra has a 55% market share in the fashion e-commerce segment, users on its app are not transacting as much as before. Flipkart's investment in Myntra comes after parent company Walmart committed $600 million to Flipkart.
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Myntra clocked $3.9-bn in gross sales in 2023 | The Arc
The Arc Web
·
1y ago
Medial
Myntra, the fashion platform owned by Flipkart, has achieved gross sales of approximately $3.9 billion in 2023, surpassing its major competitor Ajio, owned by Reliance, which achieved over $2 billion in gross sales. Myntra plans to focus on non-apparel segments, such as beauty and international brands, but faces growing competition from Nykaa Fashion. Competition in the online fashion market is intensifying, as players like Reliance and Tata aim to gain market share. Myntra has made strategic changes, including partnering with direct-to-consumer and luxury brands, resulting in increased market share and profitability.
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Myntra sees 460 million customer visits during its festival sale
Economic Times
·
1y ago
Medial
Myntra, the Indian online fashion retailer, experienced a record-breaking 460 million customer visits during its recent festival sale. The company, owned by Flipkart, witnessed a surge in online shopping as customers flocked to the platform to take advantage of the discounts and offers. This high demand highlights the growing popularity and success of e-commerce in India.
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Myntra turned EBITDA positive in last two quarters: Walmart
The Arc Web
·
1y ago
Medial
Myntra, a fashion platform owned by Flipkart, has been profitable on an EBITDA basis for the past two quarters, according to Walmart. The company's performance has boosted the profile of the Flipkart business, but specific details were not shared. Myntra has made changes such as focusing on a select few in-house brands, improving logistics with Flipkart's supply chain capabilities, and increasing the share of non-apparel products on the platform. It is also targeting non-metro cities and the Gen Z demographic for growth. Myntra holds a 55% market share in online fashion based on monthly active users. Walmart is analyzing when Flipkart could potentially go public.
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