Tata Digital’s president Mukesh Bansal has decided to step away from the day-to-day operations at Tata Neu, the super-app under Tata’s digital business, sources have told the Economic Times.
Bansal, co-founder of fashion e-tailer Myntra, joined Tata Digital in June 2021.
He will no longer be involved in Tata Neu’s key businesses, but he might continue in an advisory role, the sources said. Tata Neu is trying to make its mark in the e-commerce space, competing against more established players like Amazon India and Walmart-owned Flipkart.
The super-app is deemed as a one-stop destination for all of Tata Digital’s e-commerce offerings. It includes products from other Tata-affiliated companies like Titan, Tanishq, Tata Cliq, Croma, AirAsia and 1mg.
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Prateek Pal, CEO of Tata Digital, oversees all major decisions at the firm, as per people presently and previously involved with the company.
The company seeks to simultaneously balance unit economics and growth, according to someone directly involved. “The difference in approach on how to scale a new internet business played a role in these internal changes,” ET was told.
Although Tata Digital has initiated talks with marquee investors, it is still largely funded by Tata Sons. Bansal was expected to play an important role in the raising of fresh capital.
Bansal had founded Cultfit in 2016 with former Flipkart executive Ankit Nagori. It was initially named Curefit, with the Tatas having a minority stake in it. Presently, Cultfit is largely managed by Naresh Krishnaswamy who was also previously associated with Myntra.
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Tata Group is presently in the process of consolidating all its e-commerce business under Tata Digital.
