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Mukesh Bansal Quits Tata Neu: Report

Bansal, who is also the co-founder of Myntra and Cultfit, joined Tata Digital in June 2021

Mukesh Bansal Quits Tata Neu: Report
Mukesh Bansal, president, Tata Digital
POSTED ON January 03, 2023 4:03 PM

Mukesh Bansal, the president of Tata Digital, has resigned from Tata Neu–the e-commerce super app of the company, The Economic Times (ET) reported citing some sources aware of the development. 

Bansal joined the company in June 2021. He is one of the co-founders of the fashion e-commerce giant Myntra. He has also co-founded Cultfit along with the ex-Flipkart executive Ankit Nagori in 2016. 

Both Tata Neu and Mukesh Bansal denied commenting on the incident.  

The development came at a time when the company has been witnessing multiple senior leaders stepping down. Prior to Bansal, two senior executives, Sharath Bulusu and Prateek Mehta also resigned after spending less than one year in the company. Additionally, Sauvik Banerjee, the chief technological officer, resigned after citing personal reasons in August. 

Since its inception in 2022, the e-commerce application has included Tata Cliq, Croma, and AirAsia. Jewellery brand Tanishq and watch brand Titan were also added recently to the platform. 

The growth numbers for the latest venture have been relatively lower compared to Tata Digital's other platforms like bigbasket. For instance, the company has contributed 10 per cent of overall sales. 

However, the company is happy with the growth rate of the e-commerce arm. A person close to Tata Digital told ET, “It will take some time before there is any visible impact on market shares. They were also cognizant of the problems they were facing with the super app and it took some time to fix those.”

Recently, Tata Neu has been in the talks of the town as the company reportedly works on establishing its digital payment platform. An ET report suggested that ex WhatsApp Pay India CEO is also in talks with the company

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