Companies

Myntra.com to expand operations

Myntra.com, an online retailer, offering 100 brands in apparel, accessories and footwear in the fashion and lifestyle category, plans to expand its product category and warehousing facilities in India.

Addressing presspersons here, Mukesh Bansal, CEO and Founder, said the company haD now tied up with top premium lifestyle brands such as Nike, Puma, Lee, Wrangler, Benetton, Jealous 21, and Scullers and had forged strategic partnership with leading retail ventures such as Future group and Reliance, to expand its range in the mid-premium to premium segment.

The portal is getting about 2,000 transactions a day.

The online shopping offers immense potential because of its convenience and over 70 per cent of Myntra sales come from the men's category.

The top 10 cities across the country contributed nearly 60 per cent to the sales while the balance came from Tier-2 and Tier-3 cities, Mr. Bansal said. The company has warehousing facilities in Bangalore and plans to create warehouses in Chennai, Mumbai and New Delhi.

Tamil Nadu contributes 11 per cent to overall transactions to the site and nine percent to visits.Chennai contributes 9 per cent and is ranked seventh city on the basis of revenue contribution to the website. Bangalore and Hyderabad contributes about 15 per cent and 5 per cent respectively.Myntra's delivery network extends to over 9,000 serviceable cities in India and over 40 countries across the world, he said. The company has received $19 million funding from Accel and Tilger Global group.



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Printable version | Apr 20, 2021 4:44:39 AM | https://www.thehindu.com/business/companies/myntracom-to-expand-operations/article2433066.ece

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