Flipkart owned fashion retailer Myntra is expanding its e-commerce business into home furnishing, personal care, and more offerings under its jewelry category, reports Livemint. A spokesperson told Livemint that the new move is aimed “at increasing focus on women customers as many of them were searching for home and furnishing products on Myntra.”
MediaNama has written to Myntra seeking clarifications and more information regarding the development, we will update story as soon as we hear from them.
App only approach, website launch: Myntra closed down its mobile website in March 2015 only to re-launch it 8 months later in November 2015. It still places a banner asking users to get the mobile app ‘used by over 15 million shoppers’ in its mobile website. In April 2015, Myntra shut down its desktop site, but re-launched it within a month; the desktop site does not list items or products anymore.
Myntra was acquired by Flipkart in May 2014.
Funding: Last month, Flipkart invested Rs 338 crore (~$50.44 million) in Myntra. At that time, the company said it is targeting operating profitability by March next year, with plans to increase sales of higher-priced products and charging for certain deliveries.
Native5 acquisition: In May 2015, Myntra acqui-hired the Bangalore-based mobile application development platform Native5 for an undisclosed amount. The terms and size of the deal have not been disclosed.
Appointments at Myntra
– Mukesh Bansal, Myntra’s co-founder and head of commerce quit in February. According to a statement from Flipkart, Bansal would take up “an active role to be an advisor to the company”.
-In October 2015, Myntra had appointed Gunjan Soni as its chief marketing officer and head of International brands business. Prior to Myntra, Soni was the executive vice president for strategy and CEO office with Star India.
-In July, Myntra appointed Ananth Narayanan as its new chief executive officer. He was to start reporting from Myntra’s Bangalore headquarters starting the 1st of October 2015.
-In the same month, Myntra appointed Ambrish Kenghe as senior VP and head of products. In his new role, he will be responsible for product innovation for the company’s mobile products.
Other developments in fashion e-commerce
-This month, Mukesh Ambani owned Reliance Industries launched its fashion ecommerce portal called Ajio.com under its Jio brand, It currently lists women’s clothing like western wear, fusion wear, lingerie, ethnic clothing, etc.
-In October 2015, Aditya Birla launched an online fashion portal called abof.com that lists clothing and accessories for men and women, both from Aditya Birla’s brands as well as curated clothing from other brands.
– In the same month, Mahindra Group acquired baby products focused e-commerce venture Babyoye.com.
-In June 2014, textile manufacturer and retailer Arvind Ltd launched its own an e-commerce service called ‘The Arvind Store’ that sells custom-tailored, and ready-made garments.