Amar Nagaram, Chief Executive Officer of Myntra has quit his post according to an email sent by Kalyan Krishnamurthy, CEO at Walmart-owned Flipkart to employees.
Myntra is an online fashion retailer which is owned by Flipkart. Flipkart acquired Myntra in 2014 for a record-breaking deal valued at Rs. 2,000 Cr ($280 million).
At the time of acquisition by Flipkart, Myntra had a total of 1,50,000 products of over 1000 brands, catering to over more than 9000 pin codes in India
The company appointed Nagaram as CEO of Myntra in January 2019 after the exit of his predecessor Ananth Narayanan.
In an internal email to employees, Krishnamurthy said that ‘After nearly three years of leading Myntra, Amar has decided to leave the Flipkart Group to pursue his own venture.’
However, to ensure a smooth transition, Nagaram will be associated with the group till December, the mail added. No successor has been named till now.
Myntra is a major Indian fashion e-commerce company headquartered in Bengaluru, Karnataka
