Domicile shift key step in aligning closely with India's eco, regulatory landscape: Flipkart CEO
Flipkart CEO
Kalyan Krishnamurthy
in an address to employees on Monday spotlighted the company's growth momentum and focus on future readiness as he termed the e-commerce giant's planned domicile shift to India as a significant step toward aligning more closely with the economic and regulatory landscape here. At an internal 'Flipster Connect' event on Monday, the top honcho of the IPO-bound company talked about a 6-fold increase in investments in AI this year. He mentioned that Flipkart has initiated the flip back of the company and reaffirmed the team's focus on profitability with a renewed emphasis on customer centricity.
On the Walmart-backed Flipkart's IPO plans, Krishnamurthy said that a lot of work which has already happened over the past 12 months is aligned with this intention, and assured that the organisation will continue to do a lot more, going forward.
At the event, Krishnamurthy alongside other key senior leaders, including Seema Nair (SVP and CHRO), Hemant Badri (Senior Vice President and Head of Supply Chain), and Ramesh Gururaja (Senior Vice President, Consumer Shopping Experience), highlighted the organisation's strategic momentum across talent acquisition, leadership evolution, business growth, innovation and consumer focus.
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An email query sent to Flipkart seeking comments on the development did not elicit a response.
Sources privy to the development, however, confirmed that Krishnamurthy - at the townhall - spoke of Flipkart recording a strong uptick in customer growth and orders at around 20-25 per cent currently, and said the company is on track to achieve 30 per cent by June this year.
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"Within the org, we remain focused on being future-ready, with a 6X increase in investment in AI this year. We continue to be the market driver across all categories and customer segments. 'Minutes' is doing very well, and we're targeting 800 dark stores by the end of this year," he is learnt to have said.
'Minutes' is the quick commerce arm of Flipkart.
Krishnamurthy highlighted that Flipkart is seeing a lot of innovation and disruption coming back into the system, with a focus on customer experience, Shopsy, travel, and Gen Z audiences.
"super.money has also been on a high growth trajectory, with several recent successful launches and strong product innovation. We've recently seen some industry veterans across technology, categories, and Adtech join us as we work towards the aggressive goals we've set for ourselves," he said.
Krishnamurthy also highlighted Flipkart's plan to shift its legal domicile to India (from Singapore) describing it as a "statement of intent" and a significant step toward aligning more closely with India's economic and regulatory landscape.
"As we've initiated the flip back of the company, I am very confident that all of us will continue to focus on profitability with a renewed emphasis on customer centricity. This move brings Flipkart even closer to where our heart has always been," he stated.
During the session, Seema Nair, CHRO, Flipkart Group, underscored the strength of Flipkart's leadership bench, noting a growing cohort of next-generation leaders taking on strategic roles in new e-commerce avenues.
She also drew attention to the organisation's focus on building teams that are able to leverage the opportunity that e-commerce presents through skill development and training. Flipkart is also going to leverage AI as an enabler for the entire organisation, while ensuring all employees have access to the best AI tools.
Nair observed that with a resilient, collaborative, and future-focused team, the company is strongly positioned to lead the evolution of India's digital retail ecosystem.
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