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<ul><li><keyword id="6397414" type="UNKNOWN" weightage="20" keywordseo="Ananth-Narayanan">Ananth Narayanan</keyword> was one of the most high profile exits from Flipkart, after it was acquired by Walmart. </li><li>Narayanan has now joined e-pharmacy startup <keyword id="3873233" type="PERSON" weightage="20" keywordseo="Medlife">Medlife</keyword>. </li><li>Medlife, which was started in 2014, reportedly does 20,000 deliveries in a day.</li></ul>Ananth Narayanan, who quit Flipkart owned Myntra after the acquisition by Walmart, has now joined Medlife as its <a href="https://www.livemint.com/companies/people/former-myntra-jabong-ceo-ananth-narayanan-joins-medlife-1564991124569.html">CEO</a>. There were rumours that Narayanan left his position as Myntra Jabong’s CEO because of his misalignment with Flipkart CEO Kalyan Krishnamurthy. Even while Narayanan was working for the company, reports said that he could join the Indian OTT platform Hotstar. However, he is now part of <keyword id="2868700" type="PERSON" weightage="20" keywordseo="online-pharmacy">online pharmacy</keyword> startup. Medlife was founded in 2014 by Tushar Kumar and Prashant Singh, and helps patients and doctors manage their files online. The company claims to perform 20,000 deliveries across India and is reportedly in talks with pharma giant Cipla for a funding round. Cipla could invest <a href="https://timesofindia.indiatimes.com/business/india-business/cipla-in-talks-to-back-e-pharmacy-medlife/articleshow/70489577.cms">₹170 crore </a>in the e-pharmacy startup. There were also reports that <a href="https://www.business-standard.com/article/companies/softbank-in-talks-to-invest-70-million-in-indian-e-pharmacy-medlife-119061301247_1.html">SoftBank</a> too was looking at investing in the startup. Bengaluru-based Medlife had also acquired its competitor <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/medlife-acquires-myra-to-take-epharma-service-to-22-cities/articleshow/69193813.cms">Myra Medicines</a> earlier in May 2019, expanding its deliveries to 22 cities in India.

Former Myntra CEO Ananth Narayanan joins online pharmacy Medlife

<ul><li><keyword id="3873233" type="PERSON" weightage="20" keywordseo="Medlife">Medlife</keyword> is currently witnessing an 8% month-on-month growth and hopes to achieve 100% year-on-year growth over last year.</li><li>It will continue to focus on digital marketing, and come up with hyper-local personalized content to target consumers.</li><li>Medlife is looking at almost doubling its consumer base from last year’s 1.5 million to 2.5 million this year.</li></ul> It’s been about three months since <keyword id="6397414" type="UNKNOWN" weightage="20" keywordseo="Ananth-Narayanan">Ananth Narayanan</keyword>, former CEO of Myntra and Jabong came on board as the Co-founder and CEO of Bengaluru-based health-tech company Medlife. Since then, Narayanan has focused on coming up with strategies to scale up the business, always keeping the consumer at the core. Founded in 2014 by Tushar Kumar and Prashant Singh, Medlife, which started out being an online medicine delivery platform has today diversified its offering to <keyword id="164597" type="PERSON" weightage="20" keywordseo="diagnostics">diagnostics</keyword> and online consultations. The company is currently witnessing an 8% month-on-month growth and hopes to achieve 100% year-on-year growth over last year. It is also looking at expanding its diagnostics presence across 50 cities within the next 24 months. In a recent conversation, Narayanan told us that Medlife’s marketing strategy would revolve around coming up with hyper-local digital content to target different areas in the cities they launch and will back that up with BTL as well as Radio. “However, our aim would be to do a 360 degree surround for our consumers. When they think of healthcare, Medlife should be the first port of call for them,” says Narayanan. Edited excerpts: Q) From growing Myntra in the fashion e-commerce space to now growing Medlife in the online healthcare space, how has the journey been so far? I am a consumer-backed person and look for large markets to play in. Both Myntra and Medlife are a $100 billion market, however in India, access, consumer journey and having standardized processes and procedures to make healthcare simple is a problem. So it felt like a very large problem to solve. Medlife started four years ago and is in the process of solving at least two or three of these problems. I met the founders Tushar and Prashant at that time, and it felt like we're very complementary. While Tushar played more of a strategy role, Prashant and I went on to run the business. It seemed like a good idea to come together and see if we could scale it. My vision for Medlife is to build it into a trusted brand partner and serve all the healthcare needs of the 100 million plus Indians, by keeping technology at the core. Since you joined Medlife, what have your areas of focus been? There have been three to four focus key focus areas for me. The first is to improve consumer experience. We’ve launched a new react native app and have reduced the lead time for delivery. We're scaling Express which is our two-hour delivery service in eight cities. So consumers have been a big focus. Secondly, we need to make the business sustainable. In the next six to eight months, we want to reach unit economics breakeven, which means at the unit level, we don't lose money anymore. Once we achieve that, we can scale as much or as little as we want. Thirdly, there’s a continued focus on ramping up the team. We already have a terrific team of 400 people but are working on strengthening it further. We want to strengthen the tech, product and the operation side of the team. Also, we're a very small part of a very large business and our aim is to sustain a healthy growth. What kind of growth has Medlife been witnessing? Today, the online penetration of health is less than 2%. We want to grow 8% month-on-month. By the end of this year, we'll have a 100% year-on-year growth over last year. It looks like we will be ahead of our original plan for the year. Have you set a target for yourself, in terms of Medlife’s growth? In the next five years, I want to be 10X of what I am today. And if we continue to see 100% growth year-on-year, we will easily reach there. Also, I want to be able to serve multi-million customers. By when do you expect Medlife to become a profit-making entity? The key milestone is unit economics. Hopefully, as I said, six to eight months from now, we'll get there. And after that, it's really a matter of choice as to when you want to become profitable. How big is your consumer base right now and what kind of growth are you seeing in that regard? Last year, we served 1.5 million customers, and we continue to grow. This year, we will serve 2.5 million customers. Since you have diversified to diagnostics and consultation, which segments are performing the best for you? We started out being a medicine delivery platform and that's still 85-87% of the business and still growing rapidly. But that gives us a large customer base to do diagnostics with. Diagnostic is a newer business which we started about a year ago and is growing very fast for us, the unit economics are already profitable. On the <keyword id="387573" type="PERSON" weightage="20" keywordseo="online-consultation">online consultation</keyword> front, we have about 1,500 doctors on board and again, that number is growing rapidly too. In terms of growth, medicine delivery is growing at 6-7% and the other two are growing in double digits month-on-month. How have you built the consumer’s trust on your platform? In the businesses we operate in, the way to build trust is by sticking to your promise. We measure a lot on NPS and consumer experience. We work hard to ensure that we deliver whatever we commit to the customer. We are also very careful about quality, whether it's our medicines, diagnostic test results or the consultations. We do a lot of checks, tech-driven and otherwise, that allow us to make sure that the quality of our offering is great. Your vision is to turn Medlife into an e-health provider. Can you expand on that? Our aim is to own the consumer journey and provide them with everything they need. Today, we may be into medicine delivery, diagnostics and consultation but there are many other things that the customer actually wants. They want home healthcare, primary and secondary care and health insurance. We don't intend to do all of this but we’re trying to partner with the ecosystem to provide customers all of these offerings. What are your strategies to grow your market share and expand reach? Like I said, the current penetration is 2% and we have 10x growth ahead of us. We’ve built a good supply chain network. We have over 40 fulfillment centers all over. Extending the supply chain is one way of penetrating the market. The second is continuing to reach people through digital marketing. And the third is by starting to expose them to the multiple services that we actually offer. There are roughly 62 million online transacting customers in India today and we only serve 2 million, so there’s a huge opportunity. Are your consumers primarily from the metro cities? The age range of our customers is between 26 and 86, so it's a much broader range than e-commerce. Secondly, about 60% of our consumers are from the top 30 cities and 40% come from beyond. Medlife has made some strategic acquisitions with <keyword id="8296503" type="UNKNOWN" weightage="20" keywordseo="medlabz">MedLabz</keyword> and <keyword id="304370" type="PERSON" weightage="20" keywordseo="Myra">Myra</keyword>. Are more acquisitions on the cards? We will continue to do strategic acquisitions. We acquired MedLabz when we realized diagnostic is important for us. Express delivery was an important capability. The market today has chronic needs and acute needs. Acute needs account for roughly half the market, but you need to be able to supply within one to two hours. That's why we acquired Myra. So we will keep looking for capabilities to buy. How will be your broad marketing strategy going ahead? The healthcare space works micro-market by micro-market. So we look at 10 parts of Mumbai as 10 different markets. We think of personalizing the digital marketing in each of these areas very differently. We will also do Radio and BTL to get to our consumers. But the key is to start doing a 360 degree marketing around the customer so that Medlife becomes a part of their lives. Medlife needs to be the first port of call for them, whenever they think of health needs and that’s what we're trying to establish. Our brand proposition is, ‘Health comes home’. Where do you want to see Medlife in the next few years? There's still a lot of scale left to be had in the medicine delivery side of business. We want to expand our Express rapidly. We are offering diagnostics in 20 cities currently, we'd love to be in 40-50 cities. So we'll scale it up in the next 24 months. Thirdly, we will also work on creating personal online consultation into a paid consultation service, not just a complimentary one. Where do you anticipate the next phase of growth for Medlife will come from? We will grow with deeper penetration in the current cities that we’re in. I believe that in all the big cities that we're in for pharma, labs will start to become big. Medicine delivery will expand beyond the top 30 cities and we're starting to think about supply chain infrastructure beyond the top 30 cities.

Medlife hopes to achieve 100% growth by the end of this financial year, will take its diagnostics offering to 50 cities within the next 24 months

<ul><li>From Facebook to Uber, these are the new industry appointments for country’s top corporate honchos. </li><li>These appointments have shocked quite a few in the country. </li><li>Most of the hires have been made to turn around the fates of the companies and make inroads into the Indian digital market.</li></ul>The Indian digital space has been booming at a fast rate and the past two years have seen a big rejig in the top management of all the big offices. From Facebook to Uber, every other company making major inroads into the Indian digital market has seen a new person take charge. These hires have mostly been from within the Indian industry, bringing on board expertise to scale the companies. Here’s a look at the top juggle in the past year. Many of these moves came as a shock but were largely welcomed. 
	<div type="Slideshow" msid="67550418" hostid="261" title="Some of India’s marquee industry execs have changed jobs — here’s a roundup" firstImageMsid="67550516" slideCount="5"></div>

Some of India’s marquee industry execs have changed jobs—here’s a roundup

From the Indian Parliament to the Reserve Bank of India, to startup unicorns, this year was especially rife with high-profile resignations, giving fuel to ongoing controversies. Here are the top departures that left the country in surprise: 1. <keyword id="6375119" type="PERSON" weightage="20" keywordseo="urjit-patel">Urjit Patel</keyword> <div type="image" title="Urjit patel" tempid="286964" msid="67322946" hostid="261"></div>
 In December, Urjit Patel announced his resignation from his role as the governor of the Reserve Bank of India citing ‘personal reasons’ amid differences between the central bank and the Indian government. While many top politicians and academicians in the country have been citing different reasons for ‘why’ Urjit Patel abruptly resigned from his post, many believe it was the tensions between the RBI and the government, particularly the latter’s moves that threaten the central bank’s independence that led to his departure. Patel has subsequently been replaced a former government official Shaktikanta Das. 2. <keyword id="6355547" type="PERSON" weightage="20" keywordseo="arvind-subramanian">Arvind Subramanian</keyword> <div type="image" title="Arvind" tempid="286980" msid="67322947" hostid="261"></div>

(Image Credits- IANS) India’s Chief Economic Advisor Arvind Subramanian resigned from his position in Finance Ministry on 20th June citing ‘pressing family commitments.’ Krishnamurthy Subramanian was <a href="https://www.businessinsider.in/indian-government-appoints-krishnamurthy-subramanian-as-its-new-chief-economic-advisor/articleshow/66987414.cms">appointed</a> as the new CEA after the post was left vacant for nearly six months. Months after quitting his post, Subramanian in his recently-launched book ‘Of Counsel’ <a href="https://www.businessinsider.in/demonetisation-was-a-massive-draconian-monetary-shock-says-narendra-modi-governments-former-chief-economic-advisor-arvind-subramanian/articleshow/66860962.cms">commented</a> on the government’s demonetisation policy calling it “a massive, draconian, monetary shock” that took a hit on the Indian economy. 3. <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> <div type="image" title="binny-bansal1" msid="67322928" hostid="261"></div>

(Image Credits-Wikimedia.org) Indian e-tail major Flipkart Group's Chief Executive Officer (CEO) Binny Bansal parted ways with the company on 13th November following the allegations of ‘personal misconduct’. Bansal announced his resignation, effective immediately, following an independent investigation by Flipkart and Walmart against him. However, Binny Bansal has strongly denied all the accusations against him. He is reportedly launching a tech startup to provide technology tools, learning and consulting services to growth-stage ventures, ET <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/binny-bansal-former-flipkart-executive-to-launch-new-startup/articleshow/67085632.cms">reported</a>. 4. M.J Akbar <div type="image" title="907c8b2772a84537d8c711eba43627b2" tempid="287008" msid="67322948" hostid="261"></div>
 (Image Credits-IANS) The #Metoo movement forced the Minister of State for External Affairs, MJ Akbar, <a href="https://www.businessinsider.in/too-little-too-late-indian-government-reacts-to-metoo-by-forming-a-panel-to-review-sexual-harassment-laws/articleshow/66347468.cms">to put down his papers days </a>after several of his former female colleagues accused him of sexual harassment. The campaign gathered much attention from people across India with many women coming forward to reveal sexual predators at workplaces, especially in the media industry. 5. <keyword id="6397414" type="UNKNOWN" weightage="20" keywordseo="Ananth-Narayanan">Ananth Narayanan</keyword> <div type="image" title="ananth-narayan" tempid="287014" msid="67322949" hostid="261"></div>
 Myntra’s Chief Executive Officer (CEO), Ananth Narayanan,<a href="https://www.businessinsider.in/myntra-is-in-the-middle-of-a-management-shakeup-after-key-leaders-resign-in-succession/articleshow/67043730.cms"> stepped down</a> from his position in the company within a month after denying speculation about his resignation, following Binny Bansal’s exit from parent Flipkart. Following his resignation other high-ranked officials including Mithun Sundar, Chief Revenue Officer (CRO), and Manpreet Ratia, Head for Human Resources, also resigned from their respective role in the company. 6. Chanda Kochhar 
 <div type="image" title="95b438c9e8e160e4d9704c9dc628ce2a" tempid="287133" msid="67322950" hostid="261"></div>

In October, Chanda Kochhar resigned as the CEO and Managing Director of India’s largest private sector bank, ICICI Bank. Kochhar had been sent on indefinite leave amid a corporate governance <a href="https://www.businessinsider.in/its-the-end-of-the-road-for-chanda-kochhar/articleshow/66082441.cms">scandal</a> that led to an independent judicial investigation into alleged misconduct and dealings with Videocon. Kochhar was facing allegations of conflict of interest while making a loan to Venugopal Dhoot, the promoter of Videocon Group. 7. <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword> 
 <div type="image" title="5e96e735b844a0506c8cd17e3f2bbc9d (1)" tempid="287157" msid="67322951" hostid="261"></div>

The co-founder and chief executive of Yes Bank, Rana Kapoor, was reportedly asked by the Reserve Bank of India to put in his papers by January 2019. Kapoor had been working as the managing director and CEO since the bank started its operations in 2004. RBI decided not to extend the tenure of Rana Kapoor amid alleged corporate governance lapses and under-reporting of non-performing loans. The central bank further instructed Yes Bank to look for his successor. His resignation led to a crash in the bank’s shares. However, last month, its non-executive chairman, Ashok Chawla, also <a href="https://www.businessinsider.in/yes-banks-problems-get-further-compounded-as-its-chairman-is-forced-to-resign-amid-a-corruption-probe/articleshow/66634836.cms">resigned</a>, further exacerbating matters for the bank who had been tasked with bringing back stability to the institution.

Here were the most controversial resignations India saw in 2018

In a bid to ramp up the operations, technology and ethnic offerings, <a href="http://www.businessinsider.in/searchresult.cms?query=flipkart&amp;sortorder=effectivedate">Flipkart</a> raised the annual budget of <a href="http://www.businessinsider.in/searchresult.cms?query=myntra&amp;sortorder=effectivedate">Myntra</a>. <keyword id="319719" type="COMPANY" weightage="100" keywordseo="Myntra">Myntra</keyword>, which was acquired by <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> in 2014 for $300 million, will also use the budget to invest in at least three small to medium ethnic brands. "This year we got 25% extra money from the Flipkart board," said Myntra CEO <keyword id="6397414" type="UNKNOWN" weightage="20" keywordseo="Ananth-Narayanan">Ananth Narayanan</keyword>. "We will just invest in those brands and that will eventually be run by the entrepreneurs. In addition to our operating budget, our board has asked us to thoughtfully invest more in areas such as technology and brands which will help us continue on our growth trajectory and achieve profitability by March 2018," Narayanan told ET in an interview. Flipkart has funds to rake in Myntra as it had raised $1.4 billion funding from global giants <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword>, eBay and WeChat-investor Tencent. Narayanan said, “The additional budget will boost Myntra's chance of reaching its milestone of becoming profitable by March 2018 along with <a href="http://www.businessinsider.in/searchresult.cms?query=jabong&amp;sortorder=effectivedate">Jabong.com</a>.”

Flipkart is pumping money in Myntra to ramp up operations; hikes annual budget by 25%

<keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword> is shutting down two of its offices in <keyword id="6356789" type="UNKNOWN" weightage="100" keywordseo="Gurugram">Gurugram</keyword> and is looking forward to shifting 200 or so employees to the premises of <keyword id="6388367" type="COMPANY" weightage="20" keywordseo="Jabong">Jabong</keyword>.com, the fashion ecommerce company it acquired in July for $70 million, in the same city. 
 According to Myntra’s chief executive <keyword id="6397414" type="UNKNOWN" weightage="20" keywordseo="Ananth-Narayanan">Ananth Narayanan</keyword> Staff, working mostly on building international brands and cataloguing will move to an empty floor in Jabong's Sector 18 building. 
 The offices that are being shut down are located on MG Road at <keyword id="6361136" type="ORGANIZATION" weightage="20" keywordseo="IFFCO-Chowk">Iffco Chowk</keyword> and at Udyog Vihar. The Sector 18 building is also home to food-order startup Foodpanda. 
 "It makes great economic sense to come here, instead of having three different offices operating,” <keyword id="349696" type="PERSON" weightage="20" keywordseo="Rahul-Taneja">Rahul Taneja</keyword>, chief business officer at Jabong, told ET. 
 
The management is trying to get both Myntra and Jabong to profitability at the EBITDA (earnings before interest, tax, depreciation and amortisation) l evel by December 2017, Narayanan has said. 
 
"We are going to push for both and we are going to look for (ebitda profitability) together,” he told ET, adding that Jabong is expected to grow 30-50% in the financial year ending March 2018.

Myntra to shut down two offices in Gurugram, shift staff

New Delhi, Apr 28 () E-Health platform Medlife on Tuesday said it has partnered with accredited labs to launch at-home testings for COVID-19 in select cities, and plans to expand it going forward. The price of a test is set at Rs 4,500 and will be conducted by labs authorised by the Indian Council of Medical Research (ICMR), Medlife said in a statement. It added that the tests will be conducted using real-time PCR methodology. Currently, the COVID-19 testing service is available in Mumbai, Delhi, Noida, Ghaziabad and Faridabad, it added. Gurugram and Pune will be added shortly, the company said. Medlife has also launched its e-consultation services and has empanelled 1,500 doctors across India for the same, the statement said. "We are partnering with ICMR-authorised labs to aid in the rapid scaling up of COVID-19 testing in India, an essential measure to check the spread of the virus in the country," Medlife co-founder and CEO Ananth Narayanan said. As the company plays its part in the nation's fight against the pandemic, it is determined to ensure that regular and chronic patients continue to receive quality healthcare services, he added. "The launch of our e-consultation service is aimed at encouraging vulnerable and at-risk patients, especially ones with chronic diseases, to direct their concerns to our highly-trained doctors from the safety and comfort of their homes", Narayanan said. The labs with which the company has partnered are accredited by National Accreditation Board for Testing and Calibration Laboratories (NABL), a constituent board of the Quality Council of India. AKT HRS

Medlife launches at-home COVID-19 testing in select cities

New Delhi, Mar 25 () Online health platform Medlife on Wednesday said one of its delivery personnel in Delhi was hit by the cops while on duty, and urged authorities to ensure that delivery personnel with valid documentation are allowed to perform their duties. The development comes at a time when the entire country is under 21-days lockdown. The government, however, in its notification has allowed delivery of all essential goods including food, pharmaceuticals and medical equipment through e-commerce. "Medlife delivery personnel Prakash in Delhi in the Todapur area was bringing back curfew passes and was hit by the cops on the way back to the fulfillment center. In the process, he was injured and suffered bruises on his face and body. We now also have reports of similar incidents in Bengaluru," Medlife CEO and co-founder Ananth Narayanan said in a statement. Narayanan said, the indiscriminate use of force against personnel delivering items specifically exempted by the government during the shutdown will disrupt services. "The essential services sector has to be free of harassment and violence. We request the state governments and concerned authorities to ensure that strict instructions are given to the police to permit delivery personnel with valid documentation to perform their duties in these times of crisis," he added. E-commerce players, including Amazon India and Milkbasket, have been facing disruption in delivery of even essential products to their customers. Industry watchers have said there is an urgent need for uniform classification of essential items across various states, and that instructions need to flow down clearly to the last mile, where the delivery agents are facing issues. Industry experts also flagged challenges around movement of delivery personnel and staff, as well as interstate movement of goods amid lockdown across the country. Some e-commerce players are also urging the government to expand the scope of essential products beyond food items and medicines to include other products like cable and routers that may be required for customers who are working from home. SR SHWSHW

Covid-19 lockdown: Medlife says staff was hit by cops

<ul><li>Aditya Birla Fashion &amp; Retail (ABFRL) recently bought Reebok’s India operations and brands like the House of Masaba.</li><li>Now, the company says that it will set up a new subsidiary that will directly sell to the consumer (D2C) the way Thrasio, Mensa and 10Club do.</li><li>Shares of ABFRL have surged 76% in the last one year.</li><li>The story has been corrected to reflect that the new D2C unit will not be a marketplace like Ajio or Tata Cliq, as mentioned earlier.</li></ul>After a series of partnerships with some of India’s top designers of ethnic fashion like Shantanu &amp; Nikhil, Tarun Tahiliani, <keyword id="667" type="General" weightage="20" keywordseo="ritu-kumar" source="Orion">Ritu Kumar</keyword> and <keyword id="8264" type="General" weightage="20" keywordseo="sabyasachi" source="Orion">Sabyasachi</keyword>, <keyword id="3378227" type="General" weightage="20" keywordseo="aditya-birla-fashion-and-retail" source="Orion">Aditya Birla Fashion and Retail</keyword> (ABFRL) is preparing to go directly to the consumer. The company has said that the new entity will build “a portfolio of distinct, new-age, digital brands across categories in fashion, beauty and other allied lifestyle segments” Kumar Mangalam Birla, one of India’s top billionaires with a <a href="https://www.forbes.com/sites/aayushipratap/2022/02/03/indian-billionaire-gautam-adani-becomes-asias-richest-person/?sh=7e7df8744d92">net worth of $90 billion</a>, is ready to take the next big stride into online retail. The board of ABFRL has approved the setting up of a new D2C subsidiary. The retailer has had a bunch of brands for a while but in the last two years, it’s been busy stacking up outfits from some of the top designers of wedding attire. Birla’s recent pacts with designers of ethnic wear <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Acquisition year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% stake in acquired firm </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">June 2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jaypore &amp; TG Apparel &amp; Décor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July 2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shantanu &amp; Nikhil (S&amp;N) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July 2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Finesse Designs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sabyasachi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tarun Tahiliani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.5% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <keyword id="13104055" type="General" weightage="20" keywordseo="what-is-d2c" source="Orion">What is D2C</keyword>? Direct to consumer is when a brand sells their products directly to consumers without selling through any third party retailers, wholesalers etc. Some of the popular D2C brands in the market are MyGlamm, Mamaearth, Wow Skin Science, BoAT, and Go Noise and the number of these brands in India has more than doubled in the last two years, according to consulting firm Bain and Company. Platforms selling D2C brands include Meesho, Tata Cliq, Myntra, Nykaa and Ajio. However, ABFRL’s business model will be similar to the New York-based e-commerce player Thrasio, which acquires small merchants and brands listed on Amazon marketplace. Thrasio has acquired more than 100 third party sellers or fulfilled by Amazon (FBA) businesses and is valued at $6 billion. Indian players like 10Club, Mensa Brands (founded by Myntra's former CEO Ananth Narayanan) and GlobalBees (founded by FirstCry founder Supam Maheshwari and Edelweiss' former executive Nitin Agarwal) have garnered the interest of investors. Notably, Mensa Brands is the <a href="https://www.businessinsider.in/business/startups/news/former-myntra-ceo-started-mensa-brand-in-may-and-its-already-worth-a-billion-dollars-with/amp_articleshow/87735832.cms">youngest Indian startup</a> to be valued over a billion dollars and 10Club raised the <a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/amp_articleshow/83978841.cms">largest seed round</a> in Asia, last year. Even Thrasio is not willing to let go off this opportunity. The company will be looking to invest <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-aggregator-thrasio-will-invest-half-a-billion-dollars-in-buying-indian-brands/amp_articleshow/88894791.cms">half a billion dollars</a> in the Indian market over the next few years. The combined revenue of all D2C retailers in India was $3 billion in 2020, and is likely to be $35 billion by 2025, according to a recent report by O3 Capital. However, ABFRL’s statement pegged the D2C opportunity at a whopping $100 billion by 2025. <div type="image" title="aditya birla fashion stocks" height="900" width="1200" msid="89347682" hostid="261"></div>Now, ABFRL has been selling fashion brands like Louis Philippe, Van Heusen, Allen Solly, Peter England and many others through over 3,000 stores, for a while now. More recently ⁠— aside from the a series of pacts with makers of top dollar designer outfits ⁠— the company has also bought a <a href="https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/aditya-birla-fashion-to-buy-51-stake-in-masaba/articleshow/88892651.cms">51% stake in House of Masaba</a> (a clothing and cosmetics brand), and sportswear brand Reebok’s India operations. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Categories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brands sold by Aditya Birla Fashions </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Luxury </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The Collective, Ralph Lauren, Shantanu &amp; Nikhil, Sabyasachi, Tarun Tahiliani </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Super Premium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Simon Carter, Hackett, Ted Baker, Jaypore, Polo </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Premium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Louis Philippe, Allen Solly, VanHeusen, American Eagle </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sub-premium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Peter England, Forever 21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pantaloons, People </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mass </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Style Up </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>With this business proposition, Aditya Birla is looking to mint money out of the extensive ecommerce offerings created by Jeff Bezos through Amazon, Walmart through Flipkart, Mukesh Ambani and the Tata Group. Birla will use brands like these to sell the D2C brands it acquires to sell online. Ambani’s Reliance Retail has also been making big investments in e-tail including Ajio, a six-year old online marketplace that makes a bulk of its revenue from sale of fashion clothing. Tata’s product is called Tata Cliq, which sells products from Westside, Shoppersstop and other brands. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/textile-cigarette-metal-and-electric-batteries-sectors-stocks-up-budget-day/articleshow/89346157.cms">Textile, cigarette makers and others sector stocks that rallied since budget speech</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-and-mukesh-ambani-are-now-richer-than-facebooks-mark-zuckerberg/slidelist/89338118.cms">Forbes shows Adani and Ambani are now richer than Facebook’s Mark Zuckerberg</a>

Birla has the best wedding suits stacked up and he wants them displayed on your phone

(Photo Source : <keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword>) <ul><li>The CEO of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>’s fashion brand Myntra, Ananth Narayanan, said that he is going to continue lead operations in the fashion unit. </li><li><keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> is currently in the process of restructuring Flipkart after the abrupt resignation of former CEO and co-founder <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword>. </li><li>The e-commerce has already announced plans of rolling Myntra and Jabong into Flipkart, and now reports indicate that the two fashion entities may come under one umbrella. </li></ul>After the announcement of Binny Bansal’s <a href="https://www.businessinsider.in/flipkart-group-ceo-binny-bansal-steps-down-following-allegations-of-serious-personal-misconduct/articleshow/66608441.cms">resignation</a> from the Walmart-owned Flipkart Group, reports speculated that the Ananth Narayanan, the CEO of their fashion brand, Myntra, would likely resign. But it seems as though he’s here to say with <a href="https://in.reuters.com/article/myntra-ceo/flipkart-group-fashion-unit-chief-says-to-continue-in-role-idINKCN1NL0KJ">Reuters</a> reporting he is excited about Myntra going forward. According to a <a href="https://www.livemint.com/Companies/PgkNUOseOWncBjl30Ib9eO/Walmart-to-layoff-200-at-Jabong-today-merge-it-with-Myntra.html">report</a> by LiveMint, Walmart is planning on completely integrating Jabong into Myntra only days after announcing that the fashion brands would be rolled into Flipkart. Sources are afraid that this may lead to nearly 200 layoffs. What was the confusion? Binny Bansal’s abrupt resignation led Walmart to name Kalyan Krishnamurthy as the new CEO of the Flipkart Group. According to recent <a href="https://timesofindia.indiatimes.com/business/india-business/flipkart-in-a-flip-myntra-ceo-cfo-quit/articleshow/66644142.cms">media reports</a>, Narayanan did not share a ‘friendly’ rapport with Krishnamurthy. Even without any change in Narayanan’s position at the organisation, he would now be reporting to Krishnamurthy instead of Bansal which many speculated would cause friction. Till now, Myntra, while being a subsidiary of Flipkart, has operated more-or-less independently. Krishnamurthy maintains that, even with Jabong merging with Myntra, the fashion brand will continue to have the same level of autonomy. Bansal, who <a href="https://www.businessinsider.in/allegations-left-me-stunned-flipkarts-binny-bansal-resigns-denying-claims-of-personal-misconduct/articleshow/66619043.cms">denied</a> all the charges of ‘personal misconduct’ in his last letter to employees, is currently undergoing an independent investigation.

Walmart may have plans to merge fashion brands under Flipkart — But Myntra’s CEO isn’t going anywhere

New Delhi, Mar 30 () Ed-tech platform Lido Learning on Monday said it has raised USD 3 million from Rocket Internet founder Alex Samwer-backed Picus Capital and Paytm President Madhur Deora, among others.The Mumbai-based company had previously raised USD 3 million in November last year led by investors like Ronnie Screwvala, Ananth Narayanan, Vikrampati Singhania and others."Lido Learning is actively disrupting the K-12 market. Considering the current global pandemic, learning online has become the need of the hour. This is pulling the Indian market towards adopting online tutorials much faster than initially expected and is a huge tailwind enabling us to become a dominant category creator within a short span of time," Lido Learning founder and CEO Sahil Sheth said in a statement.Lido Learning provides live, interactive tutoring sessions to students and parents that push learning outcomes through a 6:1 student-teacher ratio, frontier technologies, and personalised content. It is expanding from metros to Tier II and Tier III cities.According to a Google and KPMG report, primary and secondary supplementary education will be the largest category in online education by 2021 growing at a CAGR of 60 per cent."The tremendous growth in the months since launch has proved the great product-market fit they have found. We are excited to be a part of the vision of improving the access to and quality of education - one of India's largest and most important sectors - together with such a strong team," Florian Reichert, partner at Picus Capital, said in a statement.Lido Learning is Picus' first investment in the education-technology space and one of its first in India. SR BAL

Lido Learning raises $3 mn from Paytm exec, Picus Capital, others

(Photo Source: Rediff) <ul><li><keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword> is seeing a management shakeup with key leaders including its head resigning from their respective posts. </li><li>The online fashion retailer’s Chief Executive Officer (CEO), Ananth Narayanan, stepped down from his role in the company, Mint reported on Monday. </li><li>Other top-notch officials including Mithun Sundar, the company’s Chief Revenue Officer (CRO) and Manpreet Ratia, who heads Human Resource for the company, have also resigned from their posts. </li><li>Overall <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> has fired nearly 200 employees from its fashion units, Myntra and <keyword id="6388367" type="LOCATION" weightage="20" keywordseo="jabong">Jabong</keyword>, but has been trying to hold onto their employees and executives via retention packages, according to media reports. </li></ul>Just weeks after Binny Bansal’s <a href="https://www.businessinsider.in/allegations-left-me-stunned-flipkarts-binny-bansal-resigns-denying-claims-of-personal-misconduct/articleshow/66619043.cms">controversial</a> resignation as Flipkart Group’s CEO last month, its subsidiary, Myntra, is seeing a management shakeup of sorts with key leaders resigning from their respective posts. Most recently, the online fashion retailer’s Chief Executive Officer (CEO), Ananth Narayanan, stepped down from his role in the company as per a Mint <a href="https://www.livemint.com/Companies/SBP6RB7kvaAbDtlES1dLRO/Myntra-chief-Ananth-Narayanan-quits-firm-may-abolish-CEO-po.html">report</a>. Other top-notch officials including Mithun Sundar, their Chief Revenue Officer (CRO), and Manpreet Ratia, who heads Human Resources for the company, have also resigned from their posts. The post for company’s CEO will be abolished entirely after Narayanan’s resignation, while Flipkart’s executive Amar Nagaram may end up leading Myntra, according to the report. Myntra’s workforce is also reportedly seeing a reshuffle as the company and the subsidiary have been aggressively firing employees. So far, Flipkart has fired nearly 200 <a href="https://www.livemint.com/Companies/SBP6RB7kvaAbDtlES1dLRO/Myntra-chief-Ananth-Narayanan-quits-firm-may-abolish-CEO-po.html">employees</a> from its fashion units — Myntra and Jabong. With Flipkart recently announcing Jabong’s assimilation with Myntra across verticals, more firings are <a href="https://www.livemint.com/Companies/SBP6RB7kvaAbDtlES1dLRO/Myntra-chief-Ananth-Narayanan-quits-firm-may-abolish-CEO-po.html">expected</a> to take place. On the other hand, the fashion retailer is also seeking to hold onto other employees and executives via retention packages that include incentives for the employees aside from their regular salary. Walmart acquired Flipkart earlier this year for $16 billion. With the retailing giant’s backing, Flipkart has been <a href="https://www.businessinsider.in/has-amazon-overtaken-flipkart-new-numbers-reopen-the-debate/articleshow/66863163.cms">competing</a> neck and neck with <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>. See also: <a href="https://www.businessinsider.in/has-amazon-overtaken-flipkart-new-numbers-reopen-the-debate/articleshow/66863163.cms">Has Amazon overtaken Flipkart? New numbers reopen the debate</a> <a href="https://www.businessinsider.in/walmart-may-have-plans-to-merge-fashion-brands-under-flipkart-but-myntras-ceo-isnt-going-anywhere/articleshow/66652526.cms">Walmart may have plans to merge fashion brands under Flipkart — But Myntra’s CEO isn’t going anywhere</a> <a href="https://www.businessinsider.in/allegations-left-me-stunned-flipkarts-binny-bansal-resigns-denying-claims-of-personal-misconduct/articleshow/66619043.cms">‘Allegations left me stunned’: Flipkart’s Binny Bansal resigns denying claims of ‘personal misconduct’</a>

You Searched For "Ananth Narayanan" and got 12 results

Former Myntra CEO Ananth Narayanan joins online pharmacy Medlife

Sanchita Dash

Medlife hopes to achieve 100% growth by the end of this financial year, will take its diagnostics offering to 50 cities within the next 24 months

Samarpita Banerjee

Some of India’s marquee industry execs have changed jobs—here’s a roundup

Sanchita Dash

Here were the most controversial resignations India saw in 2018

BI India Bureau

Flipkart is pumping money in Myntra to ramp up operations; hikes annual budget by 25%

BI India Bureau

Myntra to shut down two offices in Gurugram, shift staff

BI India Bureau

Medlife launches at-home COVID-19 testing in select cities

PTI

Covid-19 lockdown: Medlife says staff was hit by cops

PTI

Birla has the best wedding suits stacked up and he wants them displayed on your phone

Sriram

Bhakti

Walmart may have plans to merge fashion brands under Flipkart — But Myntra’s CEO isn’t going anywhere

BI India Bureau

Lido Learning raises $3 mn from Paytm exec, Picus Capital, others

PTI

Myntra is in the middle of a management shakeup after key leaders resign in succession

BI India Bureau

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