Fashion etailer Myntra has named Raghu Krishnananda has been named as its new Chief Technology Officer (CTO). Raghu was last serving as the head of service platforms at Samsung Research Institute in Bengaluru.
Amar Nagaram, head of Myntra stated, “Technology is the backbone of Myntra and plays an important role in shaping our proposition. Our company’s larger emphasis is on consumer engagement through content, with technology as the enabler. His experience in the domain will help us lead the industry.”
Raghu, an alumnus of the Stern School of Business, New York University, brings with him over two decades of experience as a tech expert and has led R&D teams in the US and India in companies such as Yahoo, Goldman Sachs, and Citibank.
Raghu’s appointment comes given that for the last one year, there was no designated CTO at Flipkart-owned Myntra. In January 2019, its former CEO Jeyandran Venugopal was moved to Flipkart where he was later made the chief product and technology officer. Nagaram was since then managing both the roles of the CTO and the head for the fashion marketplace.
Raghu’s appointment is significant given that fashion ecommerce penetration is expected to reach 15% of the total fashion spend in India this year. Flipkart and Myntra together control about 70% of the online fashion market share in the country and given that technology will continue to play an important role in providing an engaging experience to consumers in the online fashion sector, Raghu has his task cut out for the coming months.
Image credits: Expresscomputer.in