December 14, Amazon Fashion India: As Arun Sirdeshmukh discontinued working with the company, Amazon Fashion India announces the appointment of Saurabh Srivastava as head of the company. Amazon spokesperson confirmed in an email share with Economic Times saying that Sirdeshmukh has pulled off from his role in the company.
According to the people aware of the matter, Sirdeshmukh is currently serving his notice period. The latter would be working till February. Sirdeshmukh’s departure has put pressure on the company struggling to catch up with their competition with other e-commerce platforms like Flipkart and Myntra.
Some people also claim that for a few brands, even Ajio is now a bigger name than Amazon. The e-commerce industry has witnessed a wide gain as millions of consumers has shifted to online shopping given the pandemic scare.
Fashion is a widely boomed category that people shop for online and Amazon, in the first place has been lagging behind in the scenario as people prefer Myntra and Flipkart combination before Amazon. As claimed by Bain & Co. Indian e-retailing business is expected to rise 30% annually over the next 5-years.
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The amount will reach $100-120 Bn, however, this is amount is at $30 Bn at present. It is also assumed that fashion will lead to more online customer attention in India in the upcoming year. It also assumed the charted similar trajectories in China and the US.
Amid covid pandemic and the lockdown triggered due to it, the whole world has gone digital. From doing payment to grocery shopping, everything is online. This was a good time for Amazon to explore the market and bounce back at number one before Myntra and Flipkart. However, the company has to wait furthermore with Arun Sirdeshmukh quitting the company. The reason of his quit is yet not known.
