BigBasket co-founder Hari Menon has stepped down as chief executive officer of the online grocery platform, the company announced on June 16, ending a nearly 15-year stint at the helm. Tata Digital-backed BigBasket has appointed Amit Nanda, formerly director of seller partner services at Amazon India, as the new CEO. Menon will continue to serve on the company's board along with co-founder Vipul Parekh.
“Having built BigBasket from its inception to its current position as one of India's most trusted consumer platforms, I am delighted to welcome Amit as CEO. His deep understanding of consumers, strong track record of building and scaling businesses, and extensive experience across e-commerce and consumer sectors make him uniquely positioned to lead BigBasket for its journey ahead,” Menon said.
Nanda spent more than 11 years at Amazon India and previously worked at Citi and Hindustan Unilever. He will lead the company's next phase of growth, with a focus on strengthening its quick commerce business and driving innovation.
“I am incredibly excited to join BigBasket and build upon the phenomenal trust it has established with millions of consumers across India. Combining BigBasket’s customer-first values with the trusted legacy of the Tata Group creates a strong foundation for the future,” Nanda said.
Founded in 2011, BigBasket initially focused on scheduled deliveries and was slow to adopt quick commerce because of concerns over its economics. However, growing competition from Blinkit, Swiggy Instamart and Zepto led the company to fully pivot to quick commerce in August 2024.
According to Tata Sons' FY25 annual report, BigBasket's B2C unit, Innovative Retail Concepts, reported a 3% decline in turnover to Rs 7,673 crore, while its B2B unit, Supermarket Grocery Supplies, recorded a 7% fall to Rs 2,227 crore. Losses at Innovative Retail Concepts widened to Rs 1,851 crore in FY25 from Rs 1,267 crore a year earlier.
