30 November 2016 Current Affairs: Myntra's chief technology and product officer Shamik Sharma has moved into an advisory role at the Flipkart-owned fashion e-tailer, sources told TOI.
According to people aware of the development, he is expected to leave Myntraafter a four-year stint. Sharma is currently transitioning out of his role at the company while also mentoring other startups, it is learnt.
His move comes at a time when Myntra is trying to re-position the recently acquired smaller rival Jabong amid talks of it being shut down as a separate entity. When contacted, a Myntra spokesperson confirmed the development.
In addition to the acquisition of Jabong which has given Myntra clear dominance in the online fashion space.
The company at present is also working to launch its long planned omni-channel strategy with physical presence. Myntra is likely to open its first offline branded store this year starting from Bengaluru, while it is also in talks with traditional retail major Shoppers Stop to sell its private brands, TOI reported in its October 17 edition.
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