Paytm Mall, the e-commerce subsidiary of Paytm Group is performing substantial restructuring of its top and mid-level management. The move comes amid speculations that the enterprise now plans to enhance focus on its merchant ecosystem via B2B category as well as offline to online consumer business.
The company which is backed by VC giants including Alibaba Group and SoftBank has repositioned Sudhanshu Jain, chief financial officer of Paytm Bank, as the financial comptroller of the online business.
The company has roped in Bharti Balakrishnan who was serving as the senior director of Alibaba Group to spearhead the categories including kitchen and home, fashion etc. In another move, Varun Gupta who has been serving the company for more than three years has been promoted to lead the groceries segment.
The developments are being touted as a decision to scale down the consumer business by the company which at one point was preparing to compete with e-commerce giants like Amazon and Flipkart. In the coming times, Paytm Mall is expected to focus more on wholesale and Online to Offline(O2O) segments owing to soaring losses and losing out to competitors.
Paytm wholesale commerce was incepted in September 2018 with an initial capital of INR 20 crore.