Myntra.com Logo Essay

Myntra was established by Mukesh Bansal and Sankar Bora in February 2007. The other key members ar Ashutosh Lawania, and Vineet Saxena. all in all of them atomic number 18 IIT/IIM alumni, and shed worked for several(prenominal) start-ups. Myntra is headquartered in Bangalore and has been funded by Venture working capital coin like IndoUS, IDG & Accel Partners.5 The order started off in the trading of privateization of products, and soon expanded to cook up regional abilitys in sassyly Delhi,Mumbai and Chennai. It began its operations in the B2B ( parentage to business organisation) seg custodyt with the personalization of gifts, which include T-shirts, mugs and caps to bring in a few. However, in 2010, the company shifted its strategy to becoming a B2C (business to customer) orient firm, expanding its catalogueue to manner and invigorationstyle products.From 2007 to declination 2010, Myntra.com was in the business of online demand personalization. 6 The products ra nged from T-shirts, mugs, recognize cards, calendars, key chains, diaries, wine glasses, coasters and many such(prenominal)(prenominal) products with photographs, one-liners and slogans. In three years, Myntra became one of the Indias largest on-demand personalization platform for products and gifts with over a 50% market share 7 Myntra 8 offered personalized jerseys of several cricket and football teams such as Team India, IPL teams, theme football teams, and post-mortem League football teams. New business focus and productsMyntra has tied up with overtake sort and life-style marques in India, suchas Nike, Inc., Reebok, Puma, Adidas, Asics, Lee, Lotto, Decathlon, FILA, John Miller, Indigo dry land etc. to offer a blanket(a) range of current season sell from these brands 9 Myntra currently offers products from more than than 350 Indian and foreign brands. 10 These include shoes for unscramblening, tennis, football, basketball game and fitness, on with casual footwear from world-re todayned exertion leading like Nike, Puma, Converse, Adidas, Decathlon, Reebok, Lee Cooper, Numero Uno, Skechers, Crocks, Asics, Fila, Lotto, ID and many more. in that respect are also casual and dressy footwear for women from Catwalk, Carlton London and Red tapeline to name a few. Myntra also stocks T-shirts for men and women from popular brands like Jealous 21, continuously New, Classic Polo, Inkfruit, Lee, Nike, Inc., Probase, Puma, Adidas, Reebok, Ed Hardy, Decathlon, Lotto, Ediots, Mr. Men, Tantra and Guerilla. The website has also deputeed cosmos Human and Fastrack watches. 11 12 13In July 31, 2012 Bollywood actorKalki Koechlin launches Myntras Star N Style feature.14 -Business modelMyntra.com is an gatherer of many brands. Its business model is base on procuring current season trade from various brands and fashioning them available on the portal at the same conviction as in respective sell brand step to the forelets. All these products are offered to customers on MRP. 15 In October 2007, Myntra received a germ support from Accel Partners (formerly Erasmic Venture Fund), Sasha Mirchandani from Mumbai Angels and another holy man set upor. In November 2008, Myntra elevated with its A funding of $5 gazillion from NEA-IndoUS Ventures, IDG Ventures and Accel Partners. 16 In the second round of funding conduct by Tiger Global and participated by existing investors IDG Ventures and Indo-US Venture Partners, Myntra raised $14 million.Towards the end of 2011, Myntra.com raised $20 million in its third round of funding led by Tiger Global.17 Myntra launched a brand campaign with its first TVC in July 2011. The commercial juxtaposes pertly-age fashion with old-world keystone and positions Myntra as a fashionable new age brand. 18 19 20 21 Myntras second campaign, with the tagline behave It Up, was launched in October 2011 with a TVC. The new ad scored high on fashion quotient and the core message was to communicate the launch o f theAutumn Winter 2011 collection on Myntra.com.22 In February 2012, Myntra also rolled out an OOH (out of home) campaign across Tier 2 cities, to to build brand awareness and prove online obtain. 23 In June 2012, Myntra launched its third campaign. Created by Taproot, the communion emphasises the benefits of obtaining online, and is titled Real life mein aisa hota hai kya.in which they offer free shipping,cash on deli rattling,30 mean solar twenty-four hours return & 24 hours dispatch 24 Myntra move the Real life mein aisa hota hai kya theme in its next campaign in October 2012 and all-inclusive it to showcase its ample catalog and hassle-free Returns Policy.25 tax incomeIn the destination round (Nov 2010), Myntra raised $14mn and in 2008, raised $5mn from NEA-IUV, IDG Ventures and Accel. Myntra started as a custom gifting servicing and later morphed into an online investment company fashion store selling life style products. The latest round of $20mn funding (Series C) bequeath be used to build its logisticals service (they have already started their own logistic service) and expansion into new categories. Myntra.com targets Rs euchre crores taxation for the next fiscal Myntra.com, the largest online retailer of fashion and modus vivendi products in India, is aiming revenues of Rs 500 crores in the financial year 2012- 2013. The company which entered the lifestyle and fashion retailing segment in December 2010 has registered a 10 occlude growth in 2011 and is relatively, the fastest ripening company in the e-commerce position in India.Mr. Mukesh Bansal (Founder & CEO) said, Myntra has undergone phenomenal growth in the last 12 months and has emerged as the clear draw in Fashion/Lifestyle space. We have been consistently doubling every 4 months and have now reached a outgo where we ship up to 10,000 products every day. We are planning to cross revenue of Rs 500 crores in FY 12-13 which will further establish Myntras leadership positi on in the lifestyle grade.This is an exciting category with the come in market size projected to be over $100 billion in 5 years with mid single(a) digit portion world online, making this, possibly the largest online category in India. He further added, We have built the largest catalog in fashion & lifestyle category with over 200 brands, have very extensive supply-chain capabilities including world-class warehouse in multiple cities and our own logistics network in large cities. We will continue to investaggressively in our technology platform, supply-chain and the Myntra brand to rapidly scale the business.historyMyntra.com is bedded among the leading e-commerce companies in India and is the largest online retailer of lifestyle and fashion products. The company was started by a group of IIT/IIM graduates in 2007 and is headquartered in Bangalore. Funded by exceed tier Venture Capital Funds, Myntra is among the best funded e-commerce companies in the country today. Myntra, w hich started as an online destination for personalized products back in 2007, has expanded into broader lifestyle and fashion retailing.Today, Myntra is the largest online lifestyle retailer with over 200 national and international brands under its banner. Myntra has brought in a new level of professionalism and technology enablement to the e-commerce space in India. For consumers, this translates to superior experience, broader product survival and unmatched efficiency, thus adding to a cave in purchasing decision. The companys eccentric offerings include the largest in-season product catalogue, 100% veritable products, cash on delivery, and 30 day return policy, making Myntra the preferred online take a crapping destination in the country.Products* There are also casual and dressy footwear for women from Catwalk, Carlton London and Red Tape to name a few. To offer a wide range of current season merchandise from these brands. Myntra currently offers products from more than 200 Indian and international brands. These include shoes for running, tennis, football, basketball and fitness, along with casual footwear from world-renowned industry leaders likeMyntra has tied up with top fashion and lifestyle brands in India, such as Nike, Reebok, Puma, Adidas, Asics, Lee, Lotto, Decathlon, FIFA, John Miller, Indigo estate etc.* Inkfruit.com. dilsebol.com, Blue Bus Tees, Scopial.com, Myntra doubtless enjoyed the first mover advantage in the online retailing business. But Myntras conquest has been replicated by other companies that have now become competitors for Myntra. Some of them are Diff in the midst of tradional bssness n e bussnessTraditional businesses and e-businesses both require you to have a businesslicense. Registering your business name with the state registrar, acquiring a federal tax ID number, researching local zoning and licensing regulations, purchasing insurance disposed(p) to your needs and establishing banking relationships are critical s tairs in setting up discover in either venue. While telecommunications equipment, office supplies and a marketing/advertising figure are necessary expenses in both conventional and electronic commerce, a traditional business model has the added overhead of a monthly lease, utilities, staff salaries and benefits, exterior/inside maintenance be and security systems. An e-business run from a home office utilizes resources that already exist and which are then prorated as deductionCustomer ConvenienceIf the wear is bad, the parking is a challenge or the hour is late when inspiration strikes to buy something, an e-business that is open 24/7 oft meters has more appeal to customers than a brick-and-mortar shop located across town and alone open five days a week from 10 to 4. Shopping for goods electronically doesnt just salve customers time and energy it can also save them from paying sales taxes, provide them with more outlets to comparison-shop and eliminate the feeling of being p ressured or followed around by a salesperson. Many customers, however, prefer the ability to in person inspect the merchandise, ask for advice and assistance and be able to take their purchases home promptly rather than having to pay shipping costs and wait for delivery. A traditional business satisfies those needs in addition to raising an environment of trust through personal conversation and face-time. ns for tax purposes.