My incredible journey with Myntra and Flipkart comes to an end. It has been amazing 9 years filled with lot of learning, privilege to work with outstanding people and chance to participate in building future industry.
Despite heavy losses, 2015 moved upward in terms of sales revenue and customer acquisition in both the formats of retail. But it's high time for the retail landscape to tighten the shackles as a company can't run unprofitably for long.
India is no doubt a price sensitive market with a belief that 'the more you discount the more we buy'. But from a business standpoint, a company can't run unprofitably for long. One has to earn profit to be sustainable.
In a first of its kind partnership, Flipkart has inked a deal with Viacom18 for licensing three major international brands in India. Also, the eCommerce giant is looking to become a viable licensing platform for the international brands by connecting them
Myntra has clocked a 20X hike in its revenue during the two-day 'End of Reason Sale'. More than 1.5 million units were sold in mere 2 days of sale and the fashion eRetailer acquired 200,000 new customers.
Former Myntra COO, Ganesh Subramanian has now planned to come up with his own venture called 'Stylumia Intelligence Technology'. This is a data-driven technology to analyse various fashion trends in the retail and eRetail space.
Mobile application only fashion retailer Myntra has tentative plans to roll out offline experience zones in the next 12-18 months, its chief executive Ananth Narayanan said. "We don't have any immediate plans, but I think next year we will do it. This is
India's top online fashion retailer Myntra has signed an exclusive deal with Forever 21 to sell the American fashion retailer's products on its app-only platform. The collection will be launched on Thursday.