Home interiors platform Livspace has witnessed another senior leadership departure, with Chief Business Officer Lalit Mittal exiting the company weeks after co-founder Saurabh Jain stepped down.
Mittal, who spent nearly six years at the company, has chosen to pursue his own entrepreneurial venture. According to a company statement, the transition took place over a month ago.
Leadership Transition Timeline
Mittal joined Livspace in November 2019 as Senior Director of Business Initiatives. Over the years, he rose through the ranks serving as AVP, leading Livspace Select as CEO, and eventually being appointed Chief Business Officer in January 2022. In his role as CBO, he was responsible for driving business growth, category expansion, and operational scale across markets.
His exit follows a period of structural recalibration at Livspace, which recently confirmed the departure of co-founder Saurabh Jain and implemented multiple rounds of layoffs impacting more than 1,000 employees.
AI-Led Operational Shift
The company has stated that it has deployed advanced AI agents to automate several functions previously handled manually. The restructuring and workforce reductions are part of a broader efficiency drive aimed at improving margins and optimising operating costs.
Founded in 2014 by Anuj Srivastava, Ramakant Sharma, and Saurabh Jain, Livspace operates in the home décor, renovation, and modular interiors segment. The company has expanded its footprint across India, Southeast Asia, and the Middle East.
Livspace has raised over $450 million from investors including KKR, Jungle Ventures, and Venturi Partners. It entered the unicorn club in 2022 following a funding round led by KKR.
Financial Performance
For the fiscal year ended March 2025, Livspace reported revenue of ₹1,460 crore while narrowing its losses by 42%, reflecting efforts toward operational efficiency.
The latest leadership exits come at a time when the company is balancing growth ambitions with profitability targets in a competitive and capital-intensive home interiors market.
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