Myntra
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A screenshot of the site
A screenshot of myntra.com as on 4 June 2016
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Type of site
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E-commerce (Online shopping) |
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| Available in | English |
| Owner | Flipkart |
| Website | www |
| Alexa rank | 846 (Jan 2017[update]) |
| Commercial | Yes |
| Registration | Required |
| Launched | 2009 |
| Current status | Online |
Myntra is an Indian fashion e-commerce marketplace company headquartered in Bengaluru, Karnataka, India. The company was founded in 2007 by Indian Institute of Technology graduates with a focus on personalisation of gift items. By 2010, Myntra shifted its focus to the online retailing of branded apparel.
In May 2014, Myntra.com merged with Flipkart to compete against Amazon which entered the Indian market in June 2013 and other established offline retailers like Future Group, Aditya Birla Group and Reliance Retail.
Established by Mukesh Bansal along with Ashutosh Lawania and Vineet Saxena, Myntra was in the business of on-demand personalisation of gift items. It mainly operated on the B2B (business-to-business) model during its initial years. Between 2007 and 2010, the online portal allowed customers to personalize products such as T-shirts, mugs, mouse pads, calendars, watches, teddy bears, pendants, wine glasses and jigsaw puzzles.
In 2011, Myntra expanded its catalogue to include fashion and lifestyle products and moved away from personalisation. Myntra tied up with various popular brands to retail a wide range of latest merchandise from these brands. Myntra offered products from 350 Indian and International brands by 2012. Myntra also had casual wear for men and women from brands. The website saw the launch of Fastrack watches and of Being Human, the brand.
2014 saw the merging of Myntra with another Indian e-commerce giant Flipkart.com in an estimated deal of ₹2,000 crore (US$310 million), though nothing in terms of value was officially disclosed by any of the company. Merger was majorly influenced by two large common shareholders, Tiger Global and Accel Partners. Myntra still continues to function and operate independently to increase its market share from 50 to 70 per cent of the market share. In 2014, Myntra's portfolio included about 1,50,000 products of over 1000 brands ranging from international brands to designer brands and distribution area of around 9000 pincodes in India.
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