With a view to have its presence outside India and to explore business opportunities abroad, the company had strategically invested in Myntra Inc., USA.
Online fashion retailer Myntra Designs saw its loss widening to Rs 744.4 crore for the financial year ended March 2020, according to regulatory documents.
The Walmart-owned firm is geared to handle 900,000 concurrent users and 20,000 orders per minute at peak and expects to cater to over 4 million unique customers
Grofers, which has a strong play in the private labels segment across categories, is likely to follow this strategy in the fashion segment
Walmart-owned firm integrated 1,200 physical stores during pandemic, is taking brands like Mango, Puma, Movado and ELLE jewellery across the country including tier-2 and tier-3 towns
The Walmart-owned firm is in a race with rivals Amazon and Reliance's JioMart, who are also following a similar strategy
Myntra said that 51 per cent of shoppers on its platform were women
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The Walmart-owned company has built an omnichannel network where it has partnered with several brands to have their products delivered directly from their offline-stores
Flipkart was second in both general retail and fashion retail segments after Amazon
The deal is one of the most significant celebrity brand acquisitions in recent times
The Flipkart-owned company announced its foray into the Middle East market with its partnerships with e-commerce platforms, noon.com and namshi.com
Myntra's research identified high levels of potential channels across the globe offering significant opportunities in the online fashion segment
Pricing - a prime complaint of domestic retailers - is set to be the focus, with the government considering an annual review of discounts given by e-marketplaces.
Shoppers across the country placed about 4 million orders; 700,000 were first-timers, 56 per cent of who are from tier-2 cities and beyond
The idea of working from home, once derided in India owing to the widely held belief that one "worked" only if one went to an "office", is now no longer an incentive but a necessity.
Myntra said it had sold over 1.5 million products during the first 12 hours of EORS this year which runs from June 19-22