E Commerce Platform For Fashion And Lifestyle Products

Introduction: Myntra.com is a one of the leading e-commerce platform for fashion and lifestyle products. It was founded in 2007 by three IIT/IIM graduates. Its headquarters is in Bengaluru, India. It raised an investment of $158.67million in 9 rounds from 8 investors. Its products profile includes more than 500 lifestyle brands such as Nike, Adidas, reebok, jealous 21, U.S. polo, etc. It provides ease and power to the consumer to purchase lifestyle products online. It offers authentic products, ease of payment, 30-day return policy and shipping to most of the cities in India. [1] In May 2014, Myntra was acquired by Flipkart, also one of the leading e-commerce in India. After the acquisition Flipkart decided to shut down the web and mobile†¦show more content†¦[2] According to Myntra, 80% of its traffic and 60% of its sale come from its mobile application. Myntra’s 50% mobile traffic comes from Tier II and III cities. Mukesh Bansal, CMO and co-founder at Flipkart said â€Å"Mobile as medium has grown rapidly for all e-commerce players but more so for the fashion e-tailers. Shopping for fashion is largely impulse-driven and that’s why the vertical has done so well on the mobile. We are 100% focused on mobile and making all our investments on the platform going forward.† [3] Prasad Kompalli, Head of ecommerce platform Myntra said, â€Å"Mobile for us is more than just another channel. We believe our value proposition is best delivered and experienced through our mobile app. This medium allows us to redefine fashion shopping by offering deep personalised experiences in discovery, content consumption and transactions. In India, mobile is fast becoming the default device for accessing internet across geographies and demographies. This is why, in a short span, we are witnessing such a surge in business from mobile platform.† [4] According to Tarun Davda, director of Matrix Partners a large number of Indian e-commerce companies are seeing contribution of more than 50% from their mobile platforms and the mobile users are three times more engaged and likely to buy as compared to the desktop users. [3] After its launch of app-only platform, Myntra’s mobile application hasShow MoreRelatedGfgdfg1674 Words   |  7 PagesMyntra.com logo. | Screenshot  [show] | URL | www.myntra.com | Commercial? | Yes | Type of site | Online shopping (E-commerce) | Registration | Required | Availablelanguage(s) | hindi | Owner | Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena | Launched | 2007 | Alexa  rank |   1,481 (August 2012)[1] | Current status | Online | History Myntra was established by Mukesh Bansal and Sankar Bora in February 2007. The other key members are Ashutosh Lawania, and Vineet Saxena. 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