Nagaram, who recently moved to Myntra from Flipkart, has been with the Group for around seven years.
It attributed the growth to the company's strategic initiative of hiving off its B2B business and focusing on its marketplace operations.
This comes less than a month after the company laid off around 250 employees of its fashion brand Jabong and called for a "closer integration" of Myntra and Jabong
Myntra CEO Ananth Narayanan's position will be abolished as Flipkart's Amar Nagaram is set to head the unit, Mint reported, citing sources with direct knowledge of the matter.
"Post identifying a white space opportunity in the segment, Myntra set out to design and develop merchandise under a new brand to cater to the category and make wearers look fashionable with multiple style options at affordable prices," Myntra said in a statement.
House of Pataudi is co-owned by Myntra, Exceed Entertainment and Saif.
In these brick-and-mortar outlets, the Walmart-backed fashion e-tailer will sell women’s fashion, sports and lifestyle products, cosmetics and accessories
The first store is likely to open in Bengaluru later this year or in early 2019. This will be the company's third brick-and-mortar venture, but its first under its own brand name
The draft e-commerce policy proposed by the government is likely to disappoint online consumers.
This acquisition will help Myntra in forging omnichannel partnerships with brands on its platform.
Former country manager of eBay India, Muralikrishnan was hired by Jabong in 2016 as its chief operating officer
Two million people shopped for 9 million products across Myntra and Jabong, making it the largest fashion and lifestyle sale in the country.
Online retail giants such as Amazon, Flipkart and Myntra seem to tussel in a sale war this weekend as they offer heavy discounts, instant cash backs and free delivery options
Jabong, which, was acquired by Myntra in 2016 is also participating in the sale this year. The sale will begin from June 22
Myntra opened a fashion store 'Roadster Go' which is loaded with some of the advanced technologies in fashion retail at the Mantri Mall
He was hired by Jabong as its chief operating officer (COO) and redesignated as the SVP of Myntra in January, as per his Linkedin profile
Some sellers on Flipkart took to Facebook to complain that they have received partial payments
Founded in 2014, Witworks focuses on producing smart wearable devices and software.
In an exclusive chat with Moneycontrol, Ananth Narayanan, the chief executive officer of Myntra and Jabong, talks about the future plans of the two brands.
Sundar, who succeeds Naresh Krishnaswamy, will be instrumental in continuing Myntra's growth pace, devising and implementing strategies for the next chapter in the brand's journey, Myntra said in a statement.
Myntra and Jabong plan to use AI and machine learning for last-mile deliveries, automated storage systems, data mining and AI analytics to develop new styles and patterns.
It is expected that Jabong will now be presented as a premium brand focusing on merchandise upwards of Rs 2,500 while Myntra will concentrate mostly in the mass premium category.
These brands in Myntra’s private label portfolio have been receiving a great response from customers for their "machine-generated" designs
Several top leaders are either exiting the company or being re-designated within the Flipkart Group. Myntra acquired Jabong in a discount deal for $70 million last year
Myntra will also launch a new handloom brand during its upcoming annual Brand Summit, The Tech Threads, on November 2 in Bengaluru.