Vikas Purohit Quits As Tata Cliq’s CEO
As per media reports, Purohit has signed on an offer from a leading MNC in a non-competing sector. Presently, Tata Cliq is run by Tata UniStore. Tata Industries and the group’s lifestyle retail venture Trent are joint owner of the same
Tata Cliq CEO Vikas Purohit has resigned from the company, reported a media house. It added that such announcement was made recently during the board meeting of the company.
According to the media report, Purohit has signed on an offer from a leading MNC in a non-competing sector. He would be heading its India business.
Presently, Tata Cliq is run by Tata UniStore. Tata Industries and the group’s lifestyle retail venture Trent are joint owner of the same. Tata Cliq is being unified with Tata Neu ‘super’ app, as a part of group strategy. It has has been made a Tata Digital subsidiary. The integration of the same is group’s decision with the aim of consolidating its major ecommerce ventures under this entity.
Purohit is an alumnus of the Indian Institute of Management, Bangalore, who comes with a vast experience in the ecommerce and fashion retail market. Back in November 2016 he had joined Tata Cliq. Prior to this, he has worked with Paytm, Amazon India, Tommy Hilfiger, Reliance Brands and Madura Garments.
In 2016, Tata Cliq too began its operations and despite facing net losses in 2021-22 to Rs 750.62 crore (Rs 361.72 crore in FY21) which was more-than-double, its revenue surged 137 per cent to Rs 844.6 crore. Tata Cliq took an exit from the electronics category after selling the inventory to group company, Infiniti Retail. The company owns electronics retailer Croma worth Rs 113 crore.