Speciality logistics firm GoJavas has named former executive of FMCG firm ITC Ltd Amitabh Coomar as its new chief executive officer after the departure of Vijay Ghadge, who was the company’s senior-most executive.
The reason behind the sudden departure of Ghadge is not known. He was the chief operating officer of the company.
GoJavas did not respond to Mint’s e-mail queries but it did confirm the news.
According to his LinkedIn profile, Coomar’s last position was that of divisional manager, brand marketing, at ITC, Kolkata. He has been associated with the company for close to eight years across different divisions.
He also served the Indian Army for almost 12 years before joining the corporate world.
Coomar has a post graduate diploma in business management from Indian Institute of Management, Ahmedabad.
Founded in 2013, GoJavas counts online retailers such as Jabong, Fabfurnish, Lenskart and Healthkart as clients.
Logistics and supply chain has always been the backbone of e-commerce companies as sound infrastructure helps in reducing delivery cost and ensuring faster delivery, which in turn helps e-commerce firms win over customers.
Alibaba-backed Snapdeal (Jasper Infotech Pvt. Ltd) pumped in Rs.117 crore in October into GoJavas, making the online marketplace the single largest shareholder in the company. It holds 42% stake in the company. Earlier, Snapdeal had bought a 20% stake in GoJavas for Rs.120 crore.
GoJavas primarily locks horns with eKart, Delhivery (SSN Logistics Pvt. Ltd), Ecom Express Pvt. Ltd and Dotzot, the e-commerce focused arm of DTDC Express Ltd.
In February, in its effort to tap the rising opportunity in the logistics space, Flipkart also threw open eKart to third-party e-commerce firms. eKart has already roped in Rocket Internet-backed Jabong and Paytm (One97 Communications Pvt. Ltd).
Online retail sales could touch between $48 billion and $60 billion by 2020 from $4.47 billion in 2014, according to a report by financial services firm UBS Group AG in April last year.
Looking at the rising opportunity in the e-commerce logistics space, traditional logistics companies such as Gati Ltd, Blue Dart Express Ltd, Safexpress Pvt. Ltd and Drive India Enterprise Solutions Ltd are all adding e-commerce verticals to their existing lines of businesses.
Even Amazon (Amazon Seller Services Pvt. Ltd) is not sitting idle.
The logistics footprint of Amazon India grew three times to more than 2,100 cities and towns in 2015 and the company added eight warehouses last year, increasing their count to 21.
This article was first published on Livemint.com