Putting rest to all speculations, Myntra has finally issued its statement in media. According to a company statement, Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance, and creative teams.
“Since Myntra’s purchase of Jabong in mid-2016, the two brands have been steadily integrating key business functions and streamlining processes. This has resulted in revenue growth and a significant improvement in the customer experience,” the company said.
It further added that the closer integration of Myntra and Jabong is a necessary step in the company’s continuing development. By better aligning its resources with the long-term plans, they can put the best structure in place to serve the sellers and brand partners and ultimately benefit the customers.
Myntra also cleared the clouds over the status of the CEO Ananth Narayanan. As per media statements, he will continue to lead the team. “Myntra’s independence as a business will be “preserved”. The Jabong brand will also be retained,” the statement added.
Both Myntra and Jabong have been brought under the control of Flipkart CEO Kalyan Krishnamurthy following cofounder Binny Bansal’s exit as Group CEO earlier this week.