Flipkart, Myntra’s top management settles queries of employees, says no mergers in near future

After Myntra bought Jabong in a $70 million deal, employees of Flipkart and Myntra had a lot of questions to ask, which were answered by the top management in an all-hands meet.

After the acquisition, Flipkart co-founder Sachin Bansal, Myntra CEO Ananth Narayanan, and Myntra co-founder Ashutosh Lawania addressed employees and settled down queries on retrenchments and future mergers.

During the all-hands meet, Bansal said Jabong will work as a separate entity and there will be no mergers in the near future, adding Flipkart, Myntra and Jabong will own 70 per cent of the ecommerce market share.

The top brass also mentioned there will not be any employee retrenchments, mergers or team changes.

Narayanan had earlier stated: “We see significant opportunities across the two companies especially on brand relationships and consumer experience.”

"This acquisition further cements the Flipkart group's position as the undisputed leader of online fashion in India. I strongly believe this will unlock the next level of growth for Myntra and Jabong. This partnership will benefit the entire online fashion industry and most importantly our customers. I hope all of you will join me in celebrating this watershed moment in Indian online fashion," Narayanan stated in an email.

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