Manohar Kamath, the head of Myntra‘s private label division, has announced his resignation from the position. Manohar Kamath has been associated with the company for over a decade and has played a critical role in establishing Myntra’s private label business as one of the leading players in the Indian e-commerce industry.
Manohar Kamath’s resignation comes at a time when Myntra is undergoing significant changes in its business strategy. The company has been expanding its operations in the offline space, opening several physical stores across the country. Myntra has also been focusing on enhancing its technological capabilities, investing in artificial intelligence and machine learning to provide a more personalized shopping experience for its customers.
Manohar Kamath, who has been with Myntra since 2010, has been instrumental in driving the growth of the company’s private label business. Myntra’s private label portfolio includes over a dozen brands, including Roadster, Mast & Harbour, and Dressberry, among others. The company’s private label business has been one of its key revenue drivers, accounting for a significant share of its overall revenue.
In a statement, Kamath said, “It has been a fulfilling experience to be part of Myntra’s journey from a startup to becoming one of the leading fashion e-commerce players in the country. I am grateful for the opportunity to have been part of this incredible journey, and I wish Myntra all the best for the future.”
Myntra has not yet announced a replacement for Kamath. However, the company has indicated that it will be looking for someone with a strong background in fashion and retail to lead its private label business.
Myntra CEO Amar Nagaram said, “Manohar has been an integral part of the Myntra family, and we are grateful for his contributions to the company’s growth over the past decade. We wish him all the best for his future endeavors. We are now looking for someone who can build on Manohar’s legacy and take our private label business to new heights.”
Kamath’s resignation comes at a time when the Indian e-commerce industry is experiencing significant growth. According to a report by consulting firm Redseer, the e-commerce industry in India is expected to reach $111 billion by 2025, growing at a CAGR of 27%. The report also suggests that private label brands are expected to play a significant role in the growth of the industry, accounting for around 15-20% of the overall market by 2025.
Myntra, which was acquired by Flipkart in 2014, has been one of the leading players in the Indian e-commerce industry. The company has been focusing on enhancing its technology capabilities, investing in artificial intelligence and machine learning to provide a more personalized shopping experience for its customers.
Myntra has also been expanding its operations in the offline space, opening several physical stores across the country. The company has indicated that it plans to continue this expansion, with a particular focus on Tier-II and Tier-III cities, where there is significant potential for growth. Myntra also has a number of established partnerships with leading fashion brands, which helps it to provide customers with exclusive deals and discounts. Furthermore, Myntra is working on expanding its product range, introducing items such as footwear and home décor in addition to apparel.
The company’s private label business has been one of its key revenue drivers, accounting for a significant share of its overall revenue. Myntra’s private label portfolio includes over a dozen brands, including Roadster, Mast & Harbour, and Dressberry, among others.
Kamath’s departure from Myntra is expected to have a significant impact on the company’s private label business. However, Myntra has indicated that it remains committed to expanding its private label portfolio and building a strong presence in the Indian e-commerce industry.
In conclusion, Manohar Kamath’s resignation as the head of Myntra’s private label division marks the end of an era for the company.
