Flipkart, India’s largest e-commerce site, has tapped two proven executives to build its fashion category.
This story first appeared in the November 18, 2014 issue of WWD. Subscribe Today.
Rishi Vasudev has been named vice president of fashion (retail) and Parameswaran Balakrishnan has joined the company as vice president of HR (supply-chain.) A 15-year apparel industry veteran, Vasudev was most recently chief executive officer of Premium Garments Wholesale Trading Private Limited, the licensee of the Calvin Klein trademarks in India. He exited that post earlier this month, according to a Calvin Klein spokeswoman.
At Flipkart, he is spearheading P&L for all fashion categories.
Flipkart’s head of fashion Mukesh Bansal, said, “Fashion is very strategic to us and we have seen tremendous growth for the category this year. We are continuously expanding our selection and experience for the lifestyle category. To drive this agenda forward, we are very excited to have Rishi join our team. Rishi has a proven track record of transforming the fashion industry and delivering results.”
For the past 20 years, Balakrishnan has worked with such organizations as Toyota and Tata Motors. At Toyota, he was a key leader in implementing the car firm’s production system and driving the organization’s cultural change interventions at Toyota India.
Fashion is one of the 70-plus categories sold via Flipkart, which offers more than 20 million products. The company offers such services as cash on delivery for consumers still wary of the Internet and a 30-day replacement policy. Shoppers in 50 cities in India have the options of an In-a-Day Guarantee for deliveries and Same-Day Guarantee in 13 cities. An assortment of services is provided with the annual subscription service Flipkart First. With 20,000 employees, Flipkart has 26 million registered shoppers in India with more than eight million daily users.