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Source: Entrackr

Myntra will be integrating all of Jabong’s functions with the company, days after Walmart put the two fashion business of Flipkart Group under the direct control of CEO Kalyan Krishnamurthy.

Ananth Narayanan

The company also dismissed speculations of Myntra CEO Ananth Narayanan leaving the firm.

“Since Myntra’s purchase of Jabong in mid-2016, the two brands have been steadily integrating key business functions and streamlining processes. This has resulted in revenue growth and a significant improvement in the customer experience. As the next step in this process, Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance, and creative teams,” the company said in a statement.

“The closer integration of Myntra and Jabong is a necessary step in our continuing development. By better aligning our resources with our long-term plans, we can put the best structure in place to serve our sellers and brand partners and ultimately benefit our customers,” the company added.

It said Ananth Narayanan continues to lead the team, also adding that Myntra’s independence as a business will be “preserved”. The Jabong brand will also be retained.

It was reported on Thursday that the integration is likely to lead to a downsizing of Jabong’s 400 member team by almost 40-50%.

Myntra itself is likely to see attrition in the light of recent developments following the exit of Binny Bansal as the group CEO earlier in the week.

This is as per a report in the Economic Times.



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