Manohar Kamath, the chief of Myntra's private label, has left the company, along with Tribikram Mishra, the vice-president and head of the Roadster brand, the Economic Times reported.
Kamath had been with Myntra for almost seven years and played a key role in building the company's private label business, creating a portfolio of brands, including Mast and Harbour, Dressberry and All About You.
Myntra's Roadster brand, which Mishra led, is the company's largest private label brand, with its gross merchandise value crossing Rs 1,500 crore in 2022. The departures of Kamath and Mishra come after changes in the top leadership at Myntra in the fall of 2021, with Nandita Sinha being made CEO effective January 2022, after which several senior executives left the firm.
There has been no communication yet on who will lead Myntra's private label business. Internally, CBO (chief business officer) Sharon Pais, CFO (chief financial officer) Abhishek Gupta, CPTO (chief product and technology officer) Raghu Krishnanda and CHRO (chief human resources officer) Nupur Nagpal will be the top leaders at Myntra, reporting to CEO Nandita Sinha.
Pais took over as CBO following the departure of Ayyappan R, who became the CEO of Cleartrip, a travel booking portal owned by Flipkart Group, Myntra's parent company. Sinha directly reports to Kalyan Krishnamurthy, CEO of Flipkart Group.
Kamath, a veteran in the fashion and retail industry, had previously worked with Shoppers Stop, Globus, Arvind Mills and Crossword Books. Before joining Myntra in 2016, he was the chief operating officer of Shoppers Stop. According to sources, Kamath was instrumental in bringing a brand-building DNA to Myntra, which requires a different skill set than building a marketplace.
In 2017, under Narayanan's leadership, Myntra wanted private label brands to constitute 35-40 per cent of its overall gross merchandise value and launch multiple offline stores. Kamath helped the company achieve this goal by creating a portfolio of private-label brands.
It is currently unknown what Kamath's next assignment will be. His departure comes after high-profile exits of other executives, including then-CEO Amar Nagaram, CFO Ramesh Bafna, and chief of marketing Harish Narayanan. Bafna has recently announced his appointment as CFO of quick commerce company Zepto, after joining Singapore-based fashion technology company Zilingo.
This article has been updated after Manohar Kamath informed Outlook Start-Up that he has not joined Mensa Brands, as was originally mentioned.