Latest news with #Krishnamurthy
Time of India
27-05-2025
- Business
- Time of India
Flipkart growing at up to 25% despite ecommerce slowdown: Group CEO Kalyan Krishnamurthy
Flipkart group CEO Kalyan Krishnamurthy told employees on Monday that the Walmart-owned ecommerce platform is seeing 20–25% year-on-year growth in orders across its group businesses in May, even as the broader ecommerce industry experiences a slowdown, people aware of the discussions said. Speaking at a townhall, Krishnamurthy called the company's reverse flip to India — approved by the board in April — a key step towards aligning with the country's regulatory framework. ET had earlier reported Flipkart's plan to shift its domicile from Singapore to India as part of its preparations for a public listing in 2026. 'He talked about the group's continued focus on profitability with a renewed emphasis in the context of the reverse flip being initiated,' one of the sources said. Krishnamurthy also noted that the company is on track for 30% order growth in June, indicating sustained momentum amid a cooling market. According to a recent Bain & Company–Flipkart report, India's ecommerce sector is expected to grow 10–12% in 2024, down from over 20% in previous years. The Flipkart CEO said the fashion vertical , including Myntra, accounted for 40% of the group's new customer additions. Myntra, which turned profitable in FY24, improved its bottom line by cutting down on return costs. Also present at the townhall were senior vice presidents Ramesh Gururaja (consumer shopping experience), Hemant Badri (supply chain), and Seema Nair (chief human resource officer), who shared updates from their respective business units. Krishnamurthy reiterated that Flipkart's quick commerce arm, Minutes, is on track to operate 800 dark stores by the end of 2025. As ET reported on Friday, Minutes has been doubling its daily order volume every 45 days, according to Flipkart VP Kabeer Biswas. Gururaja also spoke about the company's renewed focus on GenZ customers across verticals such as fashion, travel, and Shopsy, Flipkart's value commerce platform that competes with SoftBank-backed Meesho and Amazon's Bazaar. The development was first reported by Press Trust of India.
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Business Standard
26-05-2025
- Business
- Business Standard
Flipkart CEO Krishnamurthy signals strong growth amid India IPO plans
Flipkart Group Chief Executive Kalyan Krishnamurthy on Monday said the firm was advancing preparations for a potential initial public offering (IPO) in India, which included shifting its holding company to India from Singapore. Speaking at an internal town hall, Krishnamurthy said the company's leadership structure is strengthening and that the steps toward relocating Flipkart's legal base to India are progressing as planned, according to people familiar with the matter. Flipkart is targeting a public listing as early as next year, with a potential valuation of between $60 billion and $70 billion, these people said. If successful, the listing would be the largest consumer technology IPO in India's history. '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,' he said. 'This move brings Flipkart even closer to where our heart has always been,' he said. The company is currently recording customer and order growth in the range of 20 per cent to 25 per cent, with monthly order volumes averaging around 130 million, the people said. 'We're witnessing a strong uptick in customer growth and orders, which is around 20–25 per cent currently, with a focus on improved efficiency, and we are on track to achieve 30 per cent by June this year,' said Krishnamurthy at Flipkart's internal 'Flipster Connect' event on Monday. Flipkart, last valued at around $36 billion, has in recent months taken steps to strengthen its board and streamline internal operations as part of its broader preparation for going public. India's e-commerce market, projected to reach $325 billion by 2030 with an annual growth rate of 21 per cent, is becoming an increasingly competitive arena. Flipkart faces intensifying rivalry from Amazon, Meesho, Reliance's JioMart, and the Tata Group, who are aggressively expanding and innovating to capture market share. At the event, Flipkart CEO Krishnamurthy, along with senior executives including Seema Nair, senior vice president and chief human resources officer; Hemant Badri, senior vice president and head of supply chain; and Ramesh Gururaja, senior vice president for consumer shopping experience, outlined the company's strategic progress. The leadership team emphasised momentum in talent acquisition, leadership development, business expansion, and a continued focus on innovation and customer engagement. Krishnamurthy said Flipkart remains a market leader across categories and customer segments, with growth driven by both core businesses and newer initiatives. The company's quick commerce service, Minutes, is performing well, and Flipkart is aiming to expand its dark store network to 800 locations by the end of the year. Krishnamurthy added that innovation is gaining renewed momentum across the platform, with strategic focus areas including customer experience, Shopsy-- its value-focused platform-- travel services, and engagement with Gen Z consumers. Flipkart's fintech arm, is also on a strong growth trajectory, following a series of recent product launches and continued investment in digital financial services. '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. During the session, Seema Nair, chief human resources officer at Flipkart Group, highlighted the company's deepening leadership pipeline, noting an expanding group of next-generation executives stepping into strategic roles across emerging areas of e-commerce. She emphasised Flipkart's focus on workforce development, pointing to ongoing investments in training and upskilling to help teams capitalise on the sector's growth. Nair also said the company plans to integrate artificial intelligence more broadly across the organisation, with a focus on equipping employees with advanced AI tools to enhance productivity and innovation. 'With a resilient, collaborative, and future-focused team, we're better positioned than ever to lead the evolution of India's digital retail ecosystem,' Nair said, adding, 'We are proud to consistently drive the culture of entrepreneurship that we have been known for.'
Time of India
26-05-2025
- Business
- Time of India
Flipkart growing at up to 25% despite ecommerce slowdown: Group CEO Kalyan Krishnamurthy
Flipkart group CEO Kalyan Krishnamurthy told employees on Monday that the Walmart-owned ecommerce platform is seeing 20–25% year-on-year growth in orders across its group businesses in May, even as the broader ecommerce industry experiences a slowdown, people aware of the discussions said. Speaking at a townhall, Krishnamurthy called the company's reverse flip to India — approved by the board in April — a key step towards aligning with the country's regulatory framework. ET had earlier reported Flipkart's plan to shift its domicile from Singapore to India as part of its preparations for a public listing in 2026. 'He talked about the group's continued focus on profitability with a renewed emphasis in the context of the reverse flip being initiated,' one of the sources said. Krishnamurthy also noted that the company is on track for 30% order growth in June, indicating sustained momentum amid a cooling market. According to a recent Bain & Company–Flipkart report, India's ecommerce sector is expected to grow 10–12% in 2024, down from over 20% in previous years. The Flipkart CEO said the fashion vertical , including Myntra, accounted for 40% of the group's new customer additions. Myntra, which turned profitable in FY24, improved its bottom line by cutting down on return costs. Live Events Also present at the townhall were senior vice presidents Ramesh Gururaja (consumer shopping experience), Hemant Badri (supply chain), and Seema Nair (chief human resource officer), who shared updates from their respective business units. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Krishnamurthy reiterated that Flipkart's quick commerce arm, Minutes, is on track to operate 800 dark stores by the end of 2025. As ET reported on Friday, Minutes has been doubling its daily order volume every 45 days, according to Flipkart VP Kabeer Biswas. Gururaja also spoke about the company's renewed focus on GenZ customers across verticals such as fashion, travel, and Shopsy, Flipkart's value commerce platform that competes with SoftBank-backed Meesho and Amazon's Bazaar. The development was first reported by Press Trust of India.
Time of India
26-05-2025
- Business
- Time of India
Domicile shift key step in aligning closely with India's economy, six-fold increase in investments in AI this year: 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. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Has Honda Done It Again? The New Honda CR-V is Finally Here. TheFactualist Undo 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. Live Events "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. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories '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. " 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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Business Standard
26-05-2025
- Business
- Business Standard
Flipkart CEO signals strong growth as company advances India IPO plans
Flipkart Group Chief Executive Kalyan Krishnamurthy said on Monday the Walmart-backed e-commerce firm is witnessing strong growth momentum and progressing with preparations for a potential initial public offering (IPO) in India, including relocating its legal domicile from Singapore. Speaking at an internal town hall, Krishnamurthy said Flipkart's leadership structure is strengthening, and the redomiciling process is proceeding as planned, according to people familiar with the matter. Flipkart is targeting a public listing as early as next year, with a potential valuation of $60–70 billion. If successful, it would be India's largest consumer technology IPO to date. The company is currently reporting 20–25 per cent year-on-year growth in customer base and order volumes, with monthly order volumes averaging 130 million, the sources said. Flipkart has begun relocating its holding company from Singapore to India, a move intended to facilitate its IPO. The company's board has approved the redomiciling, which is expected to be completed within 12–15 months. Flipkart, last valued at $36 billion, has been streamlining operations and strengthening its board in preparation for going public. Krishnamurthy reaffirmed the company's commitment to redomiciling, calling it a 'statement of intent' that aligns with India's economic and regulatory framework. 'As we've initiated the flip back of the company, I am confident we'll maintain our focus on profitability, with renewed emphasis on customer centricity,' he said. 'This move brings Flipkart even closer to where our heart has always been.' Expanding amid fierce competition India's e-commerce market is projected to reach $325 billion by 2030, with an annual growth rate of 21 per cent. Flipkart faces growing competition from Amazon, Meesho, Reliance's JioMart, and the Tata Group. At the event, Krishnamurthy and senior executives including Seema Nair (CHRO), Hemant Badri (Head of Supply Chain), and Ramesh Gururaja (Consumer Shopping Experience) outlined Flipkart's strategic progress in talent, innovation, and expansion. Flipkart's quick commerce arm, Minutes, continues to perform well. The company aims to expand its dark store network to 800 by the end of the year. The firm is also focusing on key growth verticals such as customer experience, Shopsy (its value-commerce platform), travel services, and Gen Z engagement. Its fintech arm, has shown strong momentum with recent product launches. People, culture, and AI-first transformation Seema Nair highlighted Flipkart's deepening leadership pipeline and focus on workforce development through upskilling and training initiatives. She also said the company plans to scale artificial intelligence across operations to enhance productivity and innovation. 'With a resilient, collaborative, and future-focused team, we're better positioned than ever to lead the evolution of India's digital retail ecosystem,' said Nair. 'We are proud to consistently drive the culture of entrepreneurship that we have been known for.' Enhanced customer experience Ramesh Gururaja, recently appointed Senior Vice President of Consumer Shopping Experience, said the company is focusing on delivering more personalised and engaging interactions, especially for Gen Z consumers. He noted that enhanced UX design and loyalty programmes are at the core of Flipkart's broader customer engagement strategy.
