Myntra.com is an Indian ecommerce company specializing in fashion and apparel sales, casual lifestyle products.
Image: company logo
Myntra was established in 2007 by Mukesh Bansal, Ashutosh Lawania and Vineet Saxena in Bangalore. The company has been merged with Flipkart.com in 2014 to counter rival Amazon and other online retailers, and it one of the most powerful online brands.
Myntra’s portfolio includes 150,000 products with over 1000 brands and being delivered to more than 9000 locations across India. Myntra’s investors portfolio includes Accel Partners, NEA-IndoUS Ventures, IDG Ventures.
The company first started off with a B2B business model. During 2007, the portal also allowed customers to personalize products like mugs, T-shirts, mouse pads, watches, calendars, teddy bears. However, it moved away from personalization in 2011 and started focusing on apparel and lifestyle products. By 2012, it was offering 350 brand of apparels from Indian as well as established international brands. In 2014, the company was merged with Flipkart.com for a reported 300 million dollars. Taking insights from the user traffic on its app which had reportedly reached around 95% of its customer base, Myntra decided to switch to an app only model in 2015. However, the strategy of the company turned out be negative for the company which saw a dip in its revenue to the tune of 10%. In 2016, the company has detracted its app only strategy and has switched back again to both website and app based business model. Myntra currently operates in a complex business model wherein Myntra designs Pvt. Ltd designs apparel for Flipkart.com. The company has partnered with Vector Ecommerce Pvt. Limited for the app. The partnership has led to products in Myntra that are served directly by the company as well by Vector.