Evenflow Elevates Head Of Sourcing Shashank Ranjan As Cofounder

BW Online Bureau Aug 10, 2024

With Shashank on board, EvenFlow upped its sourcing game resulting in a 12.5 per cent increase in gross margins, thus driving the company toward profitability.

E-commerce roll-up startup Evenflow, on Thursday, said that it has appointed Shashank Ranjan as co-founder, who previously served as Head of Sourcing.

Shashank Ranjan, who joined EvenFlow in 2022, was the Head of Sourcing before being elevated to cofounder.
With over 15 years of experience in sourcing and supply chain, Shashank has worked with marquee brands like Udaan, Decathlon, and Tata Steel.

Utsav Agarwal, Founder of EvenFlow, said, “Shashank joined us on 4 November 2022 — at the darkest hour of the funding winter, and that’s when our wheels had started to come off. He took it as a challenge and has been instrumental in the turnaround story — through his relentless hard work, faith in a higher being & core belief, and contagious shield of positivity he always wears. I am confident that with Shashank as my cofounder, EvenFlow will be able to grow its revenues multifold this year and profitably.”

With Shashank on board, EvenFlow upped its sourcing game, which resulted in a 12.5 per cent increase in gross margins, thus driving the company toward profitability.

Make in India has inspired EvenFlow to shift procurement for key products to India from China. In mid-2022, EvenFlow’s sourcing from China was at over 30 per cent, which stands slightly under 6 per cent today.

Shashank has been a driving force in improving the efficiency of warehousing and logistics by 50 per cent by drastically improving per-unit storage units, quicker inventory rotation, direct shipments from manufacturing partners to customers, and building flexible processes to scale up operations.

“I am humbled to learn about my elevation to the position of a co-founder and accept the honor on behalf of my team that has always persisted with its goal to go above & beyond. Our biggest strength is the winner’s mindset, which I always try to embody with faith & patience. We go out on the playing field to compete at the highest levels with speed and agility. We are ambitious and vigilant, playing the long game, and I am excited to continue playing with our winning team,” Shashank Ranjan added.