Sources revealed that Flipkart is looking to consolidate business operations of its supply chain Ekart logistics. Flipkart has suspended Ekart’s customer-customer delivery service with the aim to ‘’sharpens its focus on its core business model.’’
However, Ekart will continue providing logistics services to third-party e-commerce players and retail chains. The move comes after COO Nitin Seth took over as head of Ekart.
The changes come after Ekart head Saikiran Krishnamurthy left the company last month and Nitin Seth took over the role in addition to his responsibilities as the chief operating officer. The reshuffle in top management has been linked to Tiger Global’s Kalyan Krishnamurthy taking over as CEO of the company to streamline expenses.
The Ekart Brand was acquired by Flipkart under a company called INSTAKART SERVICES in 2015 from WS RETAIL, the primary seller on the platform. Since then, it has been the flagship vertical for co-founder Binny Bansal, who initiated the process of bringing external business for Ekart to monetize excess capacities and create an independent logistics vertical.
Also Read:-
Paytm to expand its travel business after selling 10 million tickets
Planning to buy a new car? Vehicle financing rates are lowest now