Udayavni Special

Story of Myntra, the biggest fashion e-commerce platform in India


Team Udayavani, Apr 18, 2021, 3:56 PM IST

Myntra, the biggest fashion e-commerce platform in India serves millions of Indians with more than 2,00,00 of the world’s fashion brands on the platform.

Myntra sells more than 200,000 items on the app on any given day and has achieved approximately $500M Gross Merchandise Volume in FY 2015-2016.

Myntra’s main goal is to give everyone in India access to great brands and fashion, regardless of where they are.

Launched in the year 2007, Myntra started out as an online seller of personalized merchandise and even invested in kiosks selling key chains and t-shirts. The company started to conglomerate bigger known brands with its popularity and added profit.

Initially, there weren’t many people on board at the time but the hiring bar increased with the increase in the workforce. Myntra from the very beginning had a vigilant eye on the consumer experience front than having a technology background for sales performance. The company looked upon the vision of the company and its clarity in terms of goals and metrics.

In order to quench customers’ satisfaction, logistics became a huge hurdle as it is an important aspect of any e-commerce company. Myntra’s success is based on breakthrough technologies, an innovative business model, and amazing customer service. Myntra allows payment on delivery and has a 30-day free return policy and as most of Myntra’s customers shop on mobile phones, the company invests heavily on their mobile platform to provide an unparalleled mobile shopping experience.

The main driving force behind Myntra’s success is to infuse an idea that whenever people wish to buy apparel, footwear, or any other fashion and lifestyle item, Myntra should be on their mind first. Myntra even has tie-ups with celebrities through associations with movies and events as they represent fashion sense and it also is a marketing strategy that they employ more often.

Mukesh Bansal founded Myntra with INR 30lakhs of personal investment in 2007 but by the end of 2012, Myntra was eyeing a growth of Rs 500 crores.

Myntra’s a logo change

Myntra changed its logo earlier this year, following a complaint by a Mumbai-based activist who alleged that the brand’s signage was offensive towards women.

 

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