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

(Photo Source : Myntra)

• The CEO of Flipkart’s fashion brand Myntra, Ananth Narayanan, said that he is going to continue lead operations in the fashion unit.
  
• Walmart is currently in the process of restructuring Flipkart after the abrupt resignation of former CEO and co-founder Binny Bansal.
  
• 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.
  

After the announcement of Binny Bansal’s resignation 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 Reuters reporting he is excited about Myntra going forward. According to a report 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 media reports, 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 denied all the charges of ‘personal misconduct’ in his last letter to employees, is currently undergoing an independent investigation.