Flipkart, an e-commerce company preparing for an IPO, made an announcement regarding the appointment of Gunjan Bhartia as the Senior Vice President of Business Finance. In this newly acquired position, Bhartia will be responsible for overseeing the financial operations of eKart across various sectors, with an emphasis on enhancing financial planning, performance management, and strategic development.

Bhartia possesses more than 28 years of extensive financial expertise spanning Asia and the Middle East. He has successfully assumed executive positions at prominent companies such as GE and the South Korea-based e-commerce giant, Coupang.

During his tenure, Bhartia has been instrumental in expanding businesses, implementing significant organizational changes, and overseeing multimillion-dollar initiatives within structured and regulated public company settings.

Ravi Iyer, the Chief Financial Officer of Flipkart, expressed that Bhartia's expertise in financial transformation, capital management, and governance would enhance eKart and contribute to the Group's strategic goal of long-term value creation.

“I am excited to join Flipkart and eKart at this pivotal stage of their journey,” Bhartia says.

“I look forward to building strong financial systems and partnerships that enable innovation, operational efficiency, and scalable growth, with a clear focus on predictability, controls, and long-term value creation.”

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Individually, the domestic e-commerce platform has granted a media mandate worth an estimated Rs 750 crore to Publicis Groupe's Starcom India. As per Storyboard18, this mandate pertains to the entire range of brands under the Flipkart Group, encompassing Myntra, Shopsy, Cleartrip, and Super.money, the financial technology venture.

Previously, this account was managed by EssenceMediacom, a division of WPP Media. The recent advancements occur as Flipkart readies itself for a potential initial public offering.

In December, the company owned by Walmart was granted authorization by the National Company Law Tribunal (NCLT) to relocate its headquarters from Singapore to India, overcoming a significant regulatory obstacle for its IPO aspirations.

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Flipkart has applied for government sanction in accordance with Press Note 3 regulations, which mandate authorization for investments from nations bordering India. A 5-6 percent share in Flipkart is held by the Chinese technology giant Tencent, thus necessitating approval as the company integrates its Singapore-rooted parent within the Indian corporate framework.

Following the finalization of the "flip-back" procedure, Flipkart's Indian entity will assume the role of the principal holding company. In the interim, the financial performance of Flipkart Group entities has shown signs of improvement due to cost rationalization efforts.

Flipkart Internet saw a decrease in losses by 37 percent to Rs 1,494 crore in FY25, while experiencing a revenue growth of Rs 20,493 crore within the same period.

 

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Similarly, Myntra, the fashion arm of Flipkart, reported an 18 percent increase in revenue amounting to Rs 6,042 crore, accompanied by a substantial rise in profit after tax from Rs 30.9 crore in FY24 to Rs 548.3 crore.