Alibaba, as part of its expansion planning for entry into India, has hired former McKinsey & Company consultant Madhur Deep. Entry into the market will be difficult, with Flipkart and Amazon already operating in the country. Deep will be tasked with prising market share from competitors and accessing the hundreds of millions of Indians that are turning to e-commerce as its internet landscape develops.
Alibaba has managed a phenomenal growth story in the Chinese market, its IPO raising one of the highest results in history. The company has, in recent years, sought to expand its empire of e-commerce and other services into the rapidly expanding Indian e-commerce market. The tech giant faces considerable barriers, however, in part from already established competitors like Flipkart and Amazon.
Like Flipkart before it, where a number of Banies have taken top management roles, Alibaba has hired a former consultant to develop a business strategy to grow its position in the Indian e-commerce market – the company currently has a 40% stake in Paytm which runs mobile payments and online commerce business.
Madhur Deep, who was formerly at McKinsey & Company, joins the company as a Senior Vice President, tasked with leading both B2B and consumer facing commerce businesses of Alibaba Group in terms of market entry, investments and partnerships.
Madhur Deep worked at McKinsey & Company as a Senior Engagement Manager for five years. The role saw him provide Technology, Digital, Media and IT industry CxOs with strategy, operations transformation and leadership development. Previously, he worked at Deloitte as a Senior Consultant for two years from 2009, as a Private Equity Analyst for Goldman Sachs from 2008, and as an Assistant Manager at ITC from 2005. Deep holds a Bachelor’s Degree in Computer Science Engineering from the National Institute of Technology Tiruchirappalli, Master’s degree in Business from HEC Paris and a Master of Business Administration in Finance & Strategy from the Indian Institute of Management, Bangalore.
Deep will work closely with Alibaba Group’s Global Managing Director K Guru Gowrappan regarding strategy to enter the Indian market, which includes the building out of its regional executive team, to compete with its established ecosystem.