Home / Business and Economy / Flipkart Leadership Exodus Amidst Financial Woes
Flipkart Leadership Exodus Amidst Financial Woes
25 Oct
Summary
- Multiple VPs depart, impacting key business areas like smartphones.
- Former employees campaign for ESOP buyback access post-IPO delay.
- Flipkart faces significant losses and potential tax liabilities.
Flipkart is navigating a challenging period marked by significant leadership exits and internal pressures. Three vice-presidents, including Kanchan Mishra (smartphones) and Amit Sachan (product and technology), have recently departed. These exits follow a string of departures over the past year, impacting various departments and leadership roles across Flipkart and its subsidiaries like Myntra.
Adding to its troubles, Flipkart faces a concerted campaign from an estimated 20,000-30,000 former employees advocating for inclusion in employee stock ownership plan (ESOP) buybacks. These former employees expressed their disappointment after the company's IPO plans were deferred, with Walmart pushing for profitability by FY27 before any listing. The company also faces a potential tax liability of Rs 1,500 crore to Rs 2,000 crore related to GST on deliveries.
Financial disclosures reveal a challenging fiscal landscape. For FY26, Flipkart Group reported an 18% revenue increase to Rs 1,45,880 crore but incurred a consolidated loss of Rs 8,468 crore. Its marketplace entity, Flipkart Internet, saw revenue fall 19% to Rs 16,295 crore, with its loss tripling to Rs 5,498 crore. Even previously profitable units like Myntra swung to a loss of Rs 579.4 crore in FY26.
