India’s Swiggy said on Tuesday that it has appointed Nandita Sinha as its quick commerce arm Instamart’s chief executive, effective August 3, after Amitesh Kumar Jha resigned.
The leadership rejig comes as competition intensifies in India’s quick commerce sector, where companies are racing to expand dark store networks, improve delivery speeds, and capture the rapidly evolving $11.5-billion market.
Sinha is the former CEO of Indian fashion e-commerce firm Myntra and brings more than 20 years of leadership experience across companies such as Flipkart, Britannia and Hindustan Unilever.
Swiggy’s investors have raised concerns about the slowing growth in Instamart and intensifying competition from Eternal’s Blinkit and IPO-bound Zepto.
Amazon and Walmart’s IPO-bound Flipkart have also been speeding up expansion of their quick commerce businesses in India, with a focus on smaller cities, as the global giants compete in a sector dominated by domestic players.
Swiggy is set to report its first-quarter earnings on Thursday.
Reuters
