Is Myntra an independent firm? Will Flipkart ever go for an IPO?
A curious crowd of more than 500 team members of Walmart’s fashion firm Myntra asked Judith McKenna, president and chief executive officer (CEO) of Walmart International, about the global retailer’s plans for the company. After Walmart president and CEO Doug McMillon’s visit to Flipkart a few weeks ago, McKenna has made her way to Bengaluru in a move to not only assess the progress made by the fashion business, but also show the team of Walmart’s confidence in the senior leadership at Flipkart and Myntra, sources said.
Sources said she was here to celebrate the one year anniversary of Walmart buying Flipkart. During a townhall meeting, McKenna was accompanied by Amar Nagaram, head of Myntra Jabong, Flipkart’s group CEO Kalyan Krishnamurthy and others in the senior leadership at Flipkart and Myntra.
Richard Mayfield, chief financial officer (CFO), Walmart International, and Leigh Hopkins, Walmart’s International strategy head, were also a part of the interaction.
“She is planning to go to a fulfilment centre and also visit Myntra’s MENSA Kirana network. On Tuesday, she inaugurated a customer experience centre, a concept where customers can get their apparel altered as well as returned. This will create customer engagement,” said a source. Sources said Flipkart is also heavily tapping into the kirana store network for growing in tier-III cities as well as towns and projects such as MENSA are helping it increase customer base of niche fashion firms such as Myntra.