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Myntra
Myntra is an Indian fashion e-commerce company headquartered in Bengaluru, Karnataka, India. The company was founded in 2007-2008 to sell personalized gift items. In May 2014, Myntra.com was acquired by Flipkart.
In May 2022, Myntra launched an express delivery service on its app to offer a one-of-a-kind experience on its fashion and beauty platform. This service allows shoppers to receive their orders for products marked with ‘M-express tag’ on the listing page within 24–48 hours of purchase.
Established by Mukesh Bansal along with Ashutosh Lawania and Vineet Saxena, Myntra sold on-demand personalized gift items. It mainly operated on the B2B (business-to-business) model during its initial years. Between 2007 and 2010, the site allowed customers to personalize products such as T-shirts, mugs, mouse pads, and others.
In 2011, Myntra began selling fashion and lifestyle products and moved away from personalisation. By 2012, Myntra offered products from 350 Indian and International brands. The website launched the brands Fastrack Watches and Being Human.
In 2014, Myntra was acquired by Flipkart in a deal valued at ₹2,000 crore (US$240 million). The purchase was influenced by two large common shareholders Tiger Global and Accel Partners. Myntra functions and operates independently. Myntra continues to operate as a standalone brand under Flipkart's ownership, focusing primarily on "fashion-conscious" consumers.
In 2014, Myntra's portfolio included about 1,50,000 products of over 1,000 brands, with a distribution area of around 9,000 pincodes in India. In 2015, Ananth Narayanan became the chief executive officer of Myntra.
On 10 May 2015, Myntra announced that it would shut down its website, and serve customers exclusively through its mobile app beginning 15 May. The service had already discontinued its mobile website in favour of the app. Myntra justified its decision by stating that 95% of traffic on its website came via mobile devices, and that 70% of its purchases were performed on smartphones. The move received mixed reception, and resulted in a 10% decline in sales. In February 2016, acknowledging the failure of the "app-only" model, Myntra announced that it would revive its website.
In September 2017, Myntra negotiated the rights to manage Esprit Holdings's 15 offline stores in India. Myntra reported a net loss of ₹151.20 crore in the financial year 2017–2018.
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Myntra
Myntra is an Indian fashion e-commerce company headquartered in Bengaluru, Karnataka, India. The company was founded in 2007-2008 to sell personalized gift items. In May 2014, Myntra.com was acquired by Flipkart.
In May 2022, Myntra launched an express delivery service on its app to offer a one-of-a-kind experience on its fashion and beauty platform. This service allows shoppers to receive their orders for products marked with ‘M-express tag’ on the listing page within 24–48 hours of purchase.
Established by Mukesh Bansal along with Ashutosh Lawania and Vineet Saxena, Myntra sold on-demand personalized gift items. It mainly operated on the B2B (business-to-business) model during its initial years. Between 2007 and 2010, the site allowed customers to personalize products such as T-shirts, mugs, mouse pads, and others.
In 2011, Myntra began selling fashion and lifestyle products and moved away from personalisation. By 2012, Myntra offered products from 350 Indian and International brands. The website launched the brands Fastrack Watches and Being Human.
In 2014, Myntra was acquired by Flipkart in a deal valued at ₹2,000 crore (US$240 million). The purchase was influenced by two large common shareholders Tiger Global and Accel Partners. Myntra functions and operates independently. Myntra continues to operate as a standalone brand under Flipkart's ownership, focusing primarily on "fashion-conscious" consumers.
In 2014, Myntra's portfolio included about 1,50,000 products of over 1,000 brands, with a distribution area of around 9,000 pincodes in India. In 2015, Ananth Narayanan became the chief executive officer of Myntra.
On 10 May 2015, Myntra announced that it would shut down its website, and serve customers exclusively through its mobile app beginning 15 May. The service had already discontinued its mobile website in favour of the app. Myntra justified its decision by stating that 95% of traffic on its website came via mobile devices, and that 70% of its purchases were performed on smartphones. The move received mixed reception, and resulted in a 10% decline in sales. In February 2016, acknowledging the failure of the "app-only" model, Myntra announced that it would revive its website.
In September 2017, Myntra negotiated the rights to manage Esprit Holdings's 15 offline stores in India. Myntra reported a net loss of ₹151.20 crore in the financial year 2017–2018.
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