Startup Story of Myntra

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Startup Story of Myntra

Startup Story of Myntra –The biggest fashion e commerce brand of India, Myntra is the name of the most visited fashion buying platform. Myntra has changed the way online business retails in India. Before Myntra, India did not have a website that focused on selling fashion staples primarily.

Myntra started out as the first ever fashion selling platform that considered selling only fashion staples and accessories. Mukesh Bansal is the owner and founder of Myntra. He has worked in various multiple Silicon Valley startups before starting Myntra.

Startup Story of Myntra

Startup Story of Myntra
Startup Story of Myntra

Myntra was founded in 2007. He is an IIT Kanpur alumni. Myntra can be said as the brand or the startup that changed the fashion scenario of the country and made people move from off-line shopping to online shopping. 

Myntra is the only fashion brand in the country that excels in selling the top rated high street fashion brands, in house brands, and some luxury brands too. A lot of home grown fashion brands have partnered with Myntra to establish their online presence.

There are hundreds of fashion brands on Myntra today. From western fashion to the ethnic wear, Myntra has it all. Today, along with fashion, Myntra also deals in lifestyle products like home decor stuff and more. 

Startup Story of Myntra

The founder says that along with the best team, best technology, best infrastructure, and best round of funding, Myntra has set itself up as the most successful Indian startup. The CEO of the startup gives advice to the young entrepreneurs that it is very important to keep a strong room for the entry of the employees.

In the starting, Myntra had a very small team because of which it tool a lot of time for them to grow in the country as a business. This is something not everyone should do is what the owner says. 

One of the distinct things about Myntra is that their logistics is quite different from the other brands. They have a Hybrid logistics model wherein they distribute their stuff through their personal logistics.

And in some of the cities they have partnered with the third party logistics company to do it. The CEO says “It’s primarily because we couldn’t find the reliable third party service providers who could provide world class delivery experience for our customers. So almost out of necessity we had to build that infrastructure.” 

Startup Story of Myntra

Startup Story of Myntra
Startup Story of Myntra

They started from a house with a very small team and interviewed people in that house itself. They faced problem in 2008 because of the economic shutdown. In 2014, Myntra was acquired by Flipkart and presently, they both work as a team.

Flipkart acquired Myntra for $375 million. Hence, the parent organisation of Myntra is Flipkart as of now, which is the Amazon equivalent of the country to which people also refer it to as the Amazon of India.

As the owner of Myntra says, he wanted to make Myntra as the ultimate choice of fashion and lifestyle products and he has succeeded doing that. Myntra is one of the most profitable startups of the country. 

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