Zepto VP Jitendra Bagga Resigns Amidst Second High-Level Departure

Zepto’s vice president of central operations, Jitendra Bagga has recently announced his departure after nine months with the company. This high-level exit marks the second significant departure from the quick commerce unicorn in recent months. Bagga played a crucial role in overseeing key projects within the warehousing division, making his resignation a notable loss for Zepto.

Zepto's Expansion Drive

At the beginning of the year, Zepto had approximately 300 dark stores in operation. However, due to its aggressive expansion strategy, this number has increased to over 750 dark stores. It was a part of Zepto's ongoing efforts to outperform competitors like Swiggy Instamart, Blinkit, Flipkart Minutes, and Tata BigBasket in the quick commerce market. The mother hubs (MH) and line haul (LH) projects managed by Bagga were integral to this expansion drive.

Bagga's Career Background

Before Zepto, Bagga was in leading positions in the retail and supply chain sectors. With a career spanning over 27 years, including positions at Raymond Limited and Reliance Retail, Bagga brought a deep understanding of supply chain management to his role at Zepto. His expertise was instrumental in driving the company's warehousing operations forward.

Reasons for Departure

One of the primary reasons cited for Bagga's departure was the logistical challenge of relocating from Mumbai to Bengaluru, where Zepto is headquartered. This relocation posed a significant obstacle for Bagga, ultimately leading to his decision to step down from his role. While his replacement has not yet been announced, internal candidates are being considered to fill the vacancy. [Source: MoneyControl]

Other High-Level Exits

Bagga's departure follows the resignation of Martin Dinesh Gomez, Zepto's former chief human resource officer, in December. These exits come amidst a series of leadership changes at Zepto, with several other senior executives leaving the company in 2024. The turnover at the executive level has raised questions about the company's stability as it prepares for its upcoming public market debut in 2025.

Preparing for IPO

Zepto has been making strategic moves in anticipation of its IPO, including engaging top investment banks like Goldman Sachs, Morgan Stanley, and Axis Capital. The company's decision to increase domestic shareholding and reduce foreign investor stakes reflects its commitment to a successful public offering. These initiatives could be aimed at strengthening the company’s position in the market and attracting potential investors.

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