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Myntra appoints McKinsey veteran Ananth Narayanan as CEO
22
Jul '15
Fashion and lifestyle m-commerce major, Myntra, a Flipkart firm, has named McKinsey India director Ananth Narayanan as its CEO, according to media reports. He will take charge on October 1, 2015 and will report to the Myntra board.

Mukesh Bansal, current CEO and co-founder of Myntra, will assume the position of the chairman of the board while continuing to lead Flipkart's commerce platform. He will also be actively involved in contributing to Myntra's vision, strategy and overall direction in his role as chairman.

“Ananth will be a great leader to drive Myntra's aspiration to transform how people shop for fashion and to build category-leading fashion brands. Ananth joins at a time when Myntra has established a strong leadership in the fashion space and is leading the space in mobile revolution. I am looking forward to working with Ananth to shape the next phase in Myntra's evolution,” Bansal said in a statement.

Narayanan has been with Mckinsey & Company for 15 years and has worked across four offices including Chicago, Shanghai, Taipei and Chennai.

His deep expertise and passion for product development made him the ideal CEO candidate, at a time when Myntra has gone fully mobile and is looking to transform the way consumers experience and buy fashion and lifestyle products on their smartphones.

According to Narayanan, India will continue to see the rise of online digital fashion brands and multiple customer segments will emerge dominated by 18-24 year olds and 25-35 year olds; while 35 plus segment will also grow. (SH)

Fibre2Fashion News Desk – India

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