MAM
Anil Nair joins VMLY&R as India CEO
MUMBAI: Global marketing agency VMLY&R today announced the appointment of Anil Nair as CEO, VMLY&R India. Based out of the Mumbai office, he will report to VMLY&R Asia co-CEO Tripti Lochan, who is based in Singapore. He will oversee VMLY&R’s India operation, driving growth and building on VMLY&R’s fully integrated service offering spanning creative, technology and data services.
An influential marketing industry leader, Nair brings with him more than 24 years of advertising and digital experience, most recently as CEO (digital) and managing partner for Law & Kenneth Saatchi & Saatchi India.
Nair was a part of the founding team at Law and Kenneth (L&K) Communications in 2002. He is recognised for his role in helping build Law & Kenneth Communications from the ground up into India’s largest independent agency, prior to its merger with Saatchi & Saatchi in 2014. Since that time, Anil has been responsible for growing the Saatchi & Saatchi business and integrated practice in India, with a focus on strategic planning, brand stewardship, and digital transformation.
Lochan said on his appointment, “We are committed to cultivating truly connected brands that generate real ROI for our clients and their clients. Anil comes to us with the right vision and experience to make this happen, marrying strategy with an understanding of the brand, digital, and commerce. He boasts an exemplary record for driving agency excellence and innovation while exhibiting a deep understanding of the Indian marketplace. This is an exciting time for VMLY&R as we continue to flourish in India, and I can think of no one better to lead the way.”
Commenting on his appointment, Nair said, “At a time when consumer behaviour and demand continues to evolve in line with advancing technology, VMLY&R. with its “marketing-company meets creative-agency” rigour, represents a breath of fresh air for its clients via a service offering which is arguably the most relevant, necessary, and contemporary in the market today. It’s an honour to join the VMLY&R family at such an exciting time, and I look forward to playing my part in VMLY&R’s continued success story in India.”
Nair joins the agency in the wake of a flurry of senior hires in recent months, following the appointment of Kevin Lobo as executive creative director, VMLY&R India, and Sujay Kar as commerce group lead, VMLY&R SEA & India.
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.
