Fashionable Rise: Mukesh Bansal To Get a Strategic Position At Flipkart

Two months after Mukesh Bansal was handed a significant promotion, he is now poised to assume a strategic position in online retailer Flipkart with a decision expected as early in the next two weeks, says reports.

Mukesh Bansal an IIT Kanpur Alumnus founded Myntra in 2007 and sold it to Flipkart for an estimated amount $370 Mn (2,200 Cr) in May 2014.

The decision to promote Mukesh will be made at Flipkart’s board meeting in Singapore on account of his ability to think big and well execution.“Mukesh is climbing up the ladder quickly but what’s about to come now will be a game changer,” said a source without providing details.

According to the sources he has been at meetings which involved not just the fashion or electronic businesses.

Flipkart is even planning to invest nearly $100 Mn in the fashion business alone.

In November last year, Mukesh who was just leading the fashion vertical was asked to lead the marketing at Flipkart and was also made responsible for categories like computers and consumer electronics, and was also assigned to market the company’s private label brands.

“It is quite normal that the roles and responsibilities of senior management and senior managers like Mukesh Bansal keep evolving,” said Flipkart spokesperson.

Flipkart has recently raised $700 Mn from Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates and Qatar Investment Authority and it’s existing investors DST Global, GIC, ICONIQ Capital and Tiger Global, also participated in this latest round.