Meesho, a prominent e-commerce firm, is undergoing significant leadership changes as Utkrishta Kumar, Chief Experience Officer (CXO) for Business, departs after contributing over five years to the company’s growth. His departure follows the decision to establish his own fintech startup. This transition was confirmed in an email from Meesho’s co-founder and CEO, Vidit Aatrey, addressed to the company’s employees.
Aatrey acknowledged Kumar’s vital role in shaping Meesho and lauded his contributions to the company’s current success. The email stated, “He has played an extremely important role in making Meesho what it is today.” In light of Kumar’s exit, Megha Agarwal, the current CXO for growth at Meesho, will take on the role of CXO for business, leading various aspects such as user growth, product quality, and net merchandise value (NMV) retention. Additionally, Nilesh Gupta is set to assume the role of General Manager for User Growth while Agarwal continues to oversee product quality. Sourabh Pandey will head NMV-related responsibilities at Meesho.
A Meesho spokesperson commented on the changes, noting that Utkrishta Kumar played an instrumental role in shaping the business. In response to his departure, Megha Agarwal’s appointment as CXO for business and Nilesh Gupta’s role as General Manager for user growth were warmly welcomed. The spokesperson emphasized that with a robust leadership team in place, Meesho remains committed to its mission of democratizing internet commerce for everyone.
These leadership adjustments coincide with Meesho’s record achievement of 16 million new app installations during the ‘Meesho Mega Blockbuster Sale,’ which took place from October 6 to October 15. The sale event saw 1.2 billion customer visits, resulting in over 72 orders per second in categories like home and kitchen, fashion, beauty, and personal care. Small businesses partnering with Meesho witnessed remarkable growth during this festive sale, with nearly 30,000 sellers becoming ‘lakhpatis’ (millionaires) as a result of their participation.
Moreover, the e-tailing sector in India is poised for substantial growth, with projections indicating a fivefold increase from $59 billion in 2022 to an estimated $300 billion by 2030. This growth will be driven by value-seeking consumers in Tier-II and beyond cities, combined with the expansion of third-party logistics (3PL) services.
An increase in e-tailing activities during the festive season is expected, bringing 3PL services into the spotlight. A report by financial services firm JP Morgan highlighted Meesho’s significant role in e-commerce 3PL shipments in India, placing it as the leading contributor from January to August 2023.
In line with Meesho’s strategy, the company is diversifying its product mix, with an emphasis on home and kitchen care and baby care products. The report also noted Meesho’s reliance on third-party logistics, which, despite not being captive, offers cost-efficient and faster delivery options. It predicts a continuous decline in the cost of delivery as the share of cash on delivery orders decreases.
