Instead of worrying about the competition in the horizon, following Amazon’s aggressive expansion into the fashion segment, Myntra seems to have taken it in its stride. A number of changes are being incorporated in terms of functioning as well as infrastructure to ensure it can keep up with customer demands and requirements.
Myntra has put these robust expansion plans into action in light of the $50 million funding it received from Premji and other group of investors in February and acquisition by Flipkart recently (valued at $350-370 million). Additionally, Flipkart is expected to pump close to $100 million in the next few quarters.
Amazon is opening two new fulfilment centres in Karnataka to match its growth and demand from customers.
It expects to participate in B2C e-commerce and hold own inventory, due to the speculations about the government easing up on the FDI regulations.
Its increasing foothold in the fashion segment with recently launched women’s wear, men’s apparel, fashion jewellery and lingerie.
Myntra has established its dominance in the fashion industry as a niche marketplace leader. Although it has been acquired by Flipkart per se, it will continue to operate as a separate identity, hence its expansion plans will definitely help to sustain its market leadership or in the least give stiff competition to Amazon.
Take advantage of the improvements that Myntra is putting together, especially on the technology front. With new features and new services, existing customers can be retained while new customers can be gained with the added benefits and value-add features.
After dwindling with her family business, into travel and hospitality, for more than 3 years, Pooja Vishant found her true love in writing. Happy-go-lucky and cheerful, she loves pink; so pink is the way to go if you want to get into her good books. The Associate Editor keeps track of even a leaf that has moved in the ecommerce world!
Leave a Comment