June 18, 2016: A portal for curated designer wear, Styletag has appointed former Flipkart vice president Michael Mehran Adnani as its CEO. Adnani will oversee the firm’s operations and spearhead its growth, a report by PTI said.
A veteran in the e-commerce space, Adnani’s previous stint was as vice president of strategic brand alliances at Flipkart. Prior to Flipkart, he has worked at Sears Holdings, Nextag and Overstock.
Styletag organises flash sales for curated styles, offering 70% discounts on designer products, which are curated from established designers as well as new players.
The startup, run by Intrepid Online Retail Pvt. Ltd, was founded in 2012 by Sanjay Shroff, Yashodhara Shroff, former Infosys executive Vivek SP, technology blogger Prashanth HN and web designer Soujanya Sreenath.
Sanjay Shroff is an alumnus of Rutgers University and an MBA graduate from Kellogg School of Management while Yashodhara Shroff has studied in the Art Institute of Chicago. The husband-wife team has wide experience in fashion retailing.
Styletag competes with Limeroad, FashionAndYou, Zovi as well as Myntra (acquired by Flipkart), Jabong, Amazon and Exclusively (acquired by Snapdeal).
In November 2015, the firm had raised $7.6 million (Rs 50 crore) in angel funding from Jitu Virwani, chairman and managing director of real estate developer Embassy Group.