Online shopping has outgrown enormously in a way one can imagine of. The ecommerce platform has spread its wings in marketing, sales, and business. With the introduction of the biggest online shopping platforms like Amazon, Flipkart, etc., which provided everything a person needs, a few online retailers came that, specifically and exclusively, focused on one thing. This online shopping site is one of the retailers, that sells fashion and lifestyle.
|Official Name||Myntra Designs Private Limited|
|Founder||Ashutosh Lawania, Mukesh Bansal, Raveen Sastry, Sankar Bora and Vineet Saxena|
|Revenue||₹ 3,501 crores|
|Net Worth||₹ 3,610 crores|
|No. of employees||100001 ≈|
|Category||Lifestyle, fashion and apparel|
|Available as||Website, Android and iOS|
|Social platforms||Facebook, Instagram, Twitter and YouTube|
It was founded in the year 2007 by Mukesh Bansal. Its headquarters is located in Bangalore, Karnataka, India. Mukesh before starting the company was a product manager for four different start-up companies. Experience along with a team of Vineet Saxena and Ashutosh Lawania established the company which has software and marketing together.
It is the first ecommerce marketing platform that provides business-to-business sales. It was merged with Flipkart, to establish its firm in fashion. And it become successful. The business started as a personalized gifting store, like mugs and t-shirts, and by 2011 it evolved its services into lifestyle and fashion.
The company grew its services as it inculcated various brands into its platform like Fastrack, Being Human, etc., And had around three hundred and fifty (350) brands. It is the first online shopping that exclusively sold all international brands. Year by year, the company set its rank, by expanding and including vital brands and products. Hence as of now, there are around one lakh fifty thousand brands available on the page. By the year 20015. It had around 1000 brands and was delivering around 9000 pin codes.
The company provides fashion and style products to women, men, kids, homes, living and beauty. You can search the products, according to your need and likeness, filter out the unnecessary things and buy the products.
You can enjoy shopping on their website, and also on mobile phones, as they have launched their mobile application and which is available since 2016. Get the app for your Android and iOS mobile phones, and have a happy shopping.
Founders and CEO
The founders of Myntra are Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena. All three did their studies together at IIT Kanpur. Mukesh Bansal founded this in 2007 and he left the company when it was given to Flipkart. Later he founded Curefit in 2016 and is now a co-founder of it. Ashutosh Lawania is the investor and co-founder of the firm. And he too had left the company when it was given to Flipkart entrepreneur skills paved the way for the company in its early stage. Now he is a co-founder of Bytedge Solutions and MFine.
Vineet Saxena, a software engineer has prior experience in Tech Mahindra, Pramati Technologies, and Tavant Technologies. he is also a co-founder and he too left the company. Now he is acting as a co-founder for Card91.
Sankar Bora, a software engineer, co-founder and acted as Vice president of sales and operations. He too left the company in 2010.
Raveen Sastry, one of the co-founders in this. After leaving the company he founded NudgeSpot, and after that, he acted as General Manager for Boomtrain and strategic advisor and vice president for Zeta Global. Currently, in Multiply Ventures he is the founding partner.
Amar Nagaram, the CEO joined in 2019 and left the company in 2021. The reason for leaving the company was known to be, as he sought out growth for himself
Nandita Sinha, the current CEO of Myntra, has run the company since January 2022. She has a vast experience in fashion, style, and personal care and she was working with Flipkart in the same stream. And before Flipkart, she was working at Hindustan Unilever Ltd and Britannia Industries Ltd. She has around 17 years of experience in the stream of consumer and goods. She is also a co-founder of MyBabyCart.com. She manages around 1000 plus employees in this company. She is a capable businesswoman with vast experience and knowledge.
Let us look at the growth of this fashionista over the years.
|2007 – 2010||Personalized gift items|
|2012||360 International Brands|
|2014||Acquired by Flipkart|
|2015||Shutdown of website|
|2016||Revival of the website|
|2017-2018||Heavy loss of around ₹150 crores|
|2020||300% growth in innerwear during the pandemic|
|2021||Change of logo|
It is now one of India’s largest online shopping, mainly focusing on fashion and lifestyle. They have over 2 lakh products from various brands around the world. They have a wide variety of footwear collections starting from sports shoes, daily wear, official wear, wedges, heels and much more from globalised brands like Adidas, Reebok, Crocks, Skechers, Catwalk, Nike, Puma and much more.
Vision & Mission
The company’s vision and mission are to give a service of “a hassle-free and enjoyable shopping experience to shoppers across the country with the widest range of brands and products on its portal.”
Revenue and Funds
The company gets its revenue from the commission it gets from the brands they sell.
The company so far has set around 13 rounds of funds raised over around and above 300 million US dollars.
Merges done by the Myntra designs
|2016||Jabong and Cubeit|
|2018||Witworks and Preter Online Services Ltd|
These are the merges done by the apparel over the years to expand its mobile, technology and ecommerce business.
Let us look at the partnerships that the company had over the years.
|2017||Ministry of Textiles|
|November 2021||Aditya Birla Fashion Retail Ltds|
The company had partnered with all these brands to set up “Myntra-Mall” which will be the best of collections from all these brands.
Let us look at the awards received by the company in the following years, which shows the achievement of the firm in the apparel industry.
|2011-2012||Best E-commerce Partner of the year|
|2012||Images Most Admired Retailer of the Year|
|2012||Best E-commerce Website|
|2013||Fashion e-retailer of the Year|
|2016||India’s Most Admired & Valuable Power Brand Award|
|2016||7th Annual India Leadership Conclave & Indian Affairs Business Leadership Awards|
These are the awards received by Myntra over the years. All these show the success of the company.
Create an account on this fashion site just in simple steps. Click on the login or signup on the top right side of their website page. Then give your mobile number, and you will receive an OTP your phone number. If you are already a member just give the password. If not, click on “Create an account” and then give the details.
First create a password minimum of 8 characters, 1 special character, 1 numeric and 1 uppercase. Then fill in your full name and email as an optional one, then your gender and then an alternative phone number. That’s all you have created an account on Myntra.
You can easily track your orders by just giving the tracking number and then clicking on Track Package. This helps you to track the orders which you have placed on the website and can see when the parcel is arriving.
Myntra Sale and Coupons
They have sales and offers for all women’s dresses, salwars, Kurtis, party wear gowns, saree, lehenga, silk saree, men’s dresses like t-shirts, shoes, handbags and much more. You can grab their sales and coupons all through the year. Use this coupon to get INR 200 offer and free shipping for your orders.
Myntra has grown its space as a fashion and lifestyle ecommerce shopping platform. Though the company faced lots of struggles from the startup they had unbeatable perseverance. The company is now able to offer its wide range of services to its customers regardless of its achievements and acquisitions. Despite many problems, the company kept moving forward, and that is something we need in life as well.
If you find this article interesting like it and share it with your friends who might find this article helpful. And don’t forget to subscribe and follow Ecom News for getting more details on ecommerce.
Who is the current CEO of Myntra?
Nandita Sinha is the current CEO of the company.
Who are the competitors to Myntra?
Naaptol, Amazon, Ajio, LimeRoad, Snapdeal and much more are the competitors.
When was Myntra founded?
It was founded in the year 2007 with the aim to sell personalized gifts.
What is the customer care number of Myntra?
080 6156 1999 is the customer care number of Myntra.