MAM
Performics India appoints Suhael Choudhury as west – SVP
MUMBAI: In a significant development, digital and performance marketing firm Performics India has appointed Suhael Choudhury as Senior Vice President, Business Head –West. She will report in to Mayoori Kango, chief digital officer for Performics & Resultrix. Choudhury has fifteen years of experience across integrated marketing, account management and business development. Till recently, she was previously the Associate Director- Marketing & Campaign Management at Aimia Inc, which is a data-driven marketing and loyalty analytics company. Her experience spans key positions across companies such as Ignitee Digital Solutions, Ogilvy One Worldwide, Solutions Digitas, GroupM Interaction and Indigo Consulting. She has worked on brands such as Axis Bank, HDFC Bank, Hindustan Unilever, Lakme Salon, The Mobile Store and UTI Mutual Funds.
Her role is to strategically build and support business transformation for Performics and drive cutting edge solutions in media analytics, media technology and programmatic solutions. Mayoori Kango, Chief Digital Officer, Performics & Resultrix says, “Suhael Choudhury is a key hire for us and understands very well the interplay of Customer Communication, Technology, Data & Analytics. These are much sought after skills, not just in India but across the globe. She carries the responsibility of deepening and growing businesses across existing and new clientele. Our business is undergoing a transformation and the opportunities are huge. We are the undisputed leader in performance marketing and she will add visibly to our offering.”
Choudhury says, “In my fifteen years career in Integrated Marketing, I have constantly seen the next happening now. Technology has not only transformed brand communication, but also opened up multiple engagement points. Data is now the core of any business powered by technology enablers. I join Performics at a time when the group has embarked on its ‘Power of One’ vision with Publicis Media and hence I am even more excited about the tremendous possibilities that can create a deep impact on the business.”
Performics has always held leadership position in the market as a pure play performance player. It has consistently enhanced its digital offerings—be the set-up of mobile marketing unit Performics Mobile in 2014, the setup of a media technology division in Bangalore or the Center Of Excellence teams in Delhi and Mumbai. The group has seen significant increase in billings and revenues through new clients such as Airtel, Olx, Zopper to name a few. It and has also set up a ‘Communications Planning Team’ which uses data to map the consumer journey from awareness to buying.
Brands
Flipkart completes reverse flip to India ahead of IPO
Walmart-owned e-commerce giant shifts domicile from Singapore to Bengaluru
MUMBAI: Flipkart has completed its restructuring to move its parent company from Singapore back to India, marking a key milestone as the Walmart-owned marketplace prepares for a potential initial public offering on Indian stock exchanges, ET reported, citing people aware of the matter.
The move, often referred to as a “reverse flip”, relocates the company’s legal home to India and aligns its corporate structure more closely with its largest market. It also clears an important regulatory step for Flipkart as it explores listing plans.
As part of the restructuring, several Singapore-based entities have been merged into Flipkart Internet Private Limited, which will now serve as the main holding company for the entire group.
The consolidation brings a number of major businesses directly under the Indian parent company. These include fashion platform Myntra, logistics arm Ekart, travel booking platform Cleartrip, healthcare marketplace Flipkart Health, and fintech venture Super.money.
Under the new structure, global investors including Walmart, Microsoft, SoftBank, and the Canada Pension Plan Investment Board will hold their stakes directly in the Indian entity rather than through an overseas holding company.
The redomiciliation required approval from the Indian government because Chinese technology company Tencent owns around a 5 to 6 per cent stake in Flipkart. Under Press Note 3, investments from countries sharing a land border with India require prior government clearance.
Flipkart had already secured approval from the National Company Law Tribunal in December. With the latest clearance from the central government, the company has now obtained all the regulatory approvals needed to complete the relocation, ET reported earlier.
Flipkart had originally shifted its holding structure to Singapore in 2011 to tap global capital more easily. However, as India’s capital markets have matured, several start-ups have begun returning their domiciles to the country ahead of public listings. Companies such as Razorpay, Groww, and Meesho have taken similar steps.
The company is now expected to move ahead with its IPO preparations and has begun early discussions with merchant bankers. According to people familiar with the matter, Flipkart could file its draft prospectus later this year, setting the stage for what may become one of the most closely watched listings in India’s e-commerce sector.
Flipkart has been majority-owned by Walmart since 2018, when the US retail giant acquired a 77 per cent stake in the company for $16 billion in one of the largest e-commerce deals globally.
