16 August 2016, India :
Just a month back Myntra acquired Jabong and things were going smooth. But as per the latest development, two of its senior executives, Prasad Kompalli, head of commerce, and Abhishek Verma, who led the fashion brands vertical are leaving.
This follows the exit last month of its former chief creative officer Gautam Kotamraju, who moved to Amazon India, while Prabhakar Sunder, who oversaw finance at Myntra, has moved to rival fashion portal, Voonik. These senior executives were working directly with Myntra CEO Ananth Narayanan.
“Kompalli will be moving into an advisory role from October, in order to devote his time to his personal ambitions and building on his rich experiences at Myntra,” said a spokesperson for Myntra to ET’s queries on the developments. “A senior leader from the retail industry will be taking over from Abhishek Verma in September as the new head of Myntra Fashion Brands.”
Jabong was acquired by Flipkart-controlled Myntra and three of them control around 70% of the online fashion retail market!