Ex-Flipkart executives Mukesh Bansal and Ankit Nagori, who left the e-commerce major last month, are all set to launch their new venture in the healthcare and fitness space.
Bansal, who had sold Myntra to Flipkart in 2014, is a seasoned player in the online marketplace business.
According to Bansal, they are looking at launching two separate brands, one for fitness, other for healthcare. And both having a strong technology backed products. Initial investments are pegged at Rs 30 crore and the timeline for the launch is year-end, early 2017. The rationale for chosing healthcare and fitness is based on fast-gaining popularity of the two segments among urban population.
According to reports, the departure of Nagori and Mukesh Bansal had created a flutter in the startup ecosystem especially after it came on the back of a management rejig that saw Flipkart co-founder and COO Binny Bansal taking charge of CEO from the other co-founder Sachin Bansal. The two Bansals (who are not related) started Flipkart as an online bookstore based on the Amazon model in 2007 in Bengaluru.
Flipkart is fighting Amazon in a fierce battle for e-commerce supremacy in India. Flipkart also competes with Snapdeal and Paytm.
BW Reporters
Ashish Sinha is an experienced business journalist who has covered FMCG, auto, infrastructure, tourism, telecom among several other beats. Ashish has keen interest in the regulatory scenario impacting different sectors. He writes on aviation, railways, post and telegraph, infrastructure, defence, media & entertainment, among a wide variety of other subjects.
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