Tribikram Mishra, vice-president and head of the Roadster brand, has also departed from the fashion etailer to join rollup commerce company Mensa Brands – run by former Myntra chief executive Ananth Narayanan.
A Myntra spokesperson confirmed the development to ET.
Kamath has been with Myntra for almost seven years. He has been a veteran in the fashion and retail industry working with the likes of Shoppers Stop, Globus, Arvind Mills, and Crossword Books. He was the chief operating officer of Shoppers Stop before joining Myntra in 2016, two years prior to Walmart’s acquisition of Myntra’s parent Flipkart, to head its private label business.
“Manohar has been instrumental in bringing the brand-building DNA to Myntra,” said one of the sources quoted above. “It requires a certain level of patience and a different skill set compared to the skills to build a marketplace.”
ET could not ascertain Kamath’s next assignment. Internally, as well, there has been no communication yet on who will head the private label business.
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Kamath created a portfolio of brands for Myntra, which includes Mast and Harbour, Dressberry, Sangria, All About You, House of Pataudi, Invictus, Ether, Harvard, Kook N Keech, Modarapido, among others. In 2017, under the leadership of Narayanan, Myntra wanted private label brands to constitute 35-40% of Myntra’s overall gross merchandise value (GMV), and launch multiple offline stores.Launched in 2012, Roadster is Myntra’s biggest private label brand with its GMV crossing Rs 1,500 crore in 2022, followed by sportswear brands HRX and ethnic wear brand Anouk.
As Kamath leaves executives like CBO Sharon Pais, CFO Abhishek Gupta, CPTO Raghu Krishnanda, and CHRO Nupur Nagpal will be top leaders at Myntra, who all report to CEO Nandita Sinha. Pais took over the role following the departure of Ayyappan R, who took over as the CEO of Flipkart Group-owned travel booking portal Cleartrip. Sinha directly reports to Flipkart Group CEO Kalyan Krishnamurthy.
The exit of Kamath also comes following changes at the top leadership at Myntra in the fall of 2021. Sinha was made the CEO effective January 2022 after which senior executives left the firm.
In October 2021, then-CEO Amar Nagaram left the company. Subsequently, the company saw other high-profile exits, including chief financial officer Ramesh Bafna and chief of marketing Harish Narayanan. Bafna joined Singapore-based troubled fashion technology company Zilingo after his stint in Myntra and recently announced joining quick commerce company Zepto as CFO.