Last updated : December 14, 2020 10:16 am
The announcement comes after Arun Sirdeshmukh quit the company.
As per people aware of the development, Arun is currently serving his notice period and would be leaving the company in February.
Sirdeshmukh’s departure comes as the e-commerce platforms gain from the shift of millions of consumers to shopping online during the pandemic and pressure on Amazon to catch up with Myntra and Flipkart in the crucial fashion and lifestyle business.
Fashion is one of the biggest categories leading the ecommerce boom in India and Amazon has been lagging behind with its fashion vertical and is a distant second after the Myntra and Flipkart combination.
As per Bain & Co. said India’s e-retailing business is expected to rise 30% annually over the next five years to touch $100-120 Bn from $30 Bn annual business at present. It said fashion will lead in online customer acquisition in India in the coming year, charting trajectories similar in China and the US. It will be interesting to see how Saurabh is able to invigorate the fashion business of Amazon.