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- 1. Myntra.com Get the best of style
- 2. Background The company was founded in 2007 to sell personalized gift items. Established by Mukesh Bansal along with Ashutosh Lawania and Vineet Saxena. Headquartered in Bangalore, Karnataka, India. In May 2014, Myntra.com was acquired by Flipkart. Being India's largest e-commerce store for fashion and lifestyle products, Myntra aims at providing a hassle free and enjoyable shopping experience shoppers across the country with the widest range of brands and products on its portal.
- 3. Value Proposition Myntra value proposition revolves around giving consumers the power and ease of purchasing fashion and lifestyle products online. Offerings such as the largest in-season product catalogue, 100% authentic products, cash on delivery and 30 day return policy make Myntra, the preferred shopping destination in the country. To make online shopping easier for you, a dedicated customer connect team is on standby to answer your queries 24x7.
- 4. Brands Myntra understands its shoppers‘ needs and caters to them with choice of apparel, accessories, cosmetics and footwear from over 500 leading Indian and international brands.
- 5. Acquisitions and Investments 2011- Tie up with brands, like Being Human, Fastrack, started 2014- Converged with Flipkart to give competition to Amazon. 2016- Myntra acquired Jabong.com 2017- Acquired InLogg, a logistics Company. 2019- Launched first Digital Reality Show about fashion.
- 6. Business Model •Myntra has tied up with 3000 brands and offers a high-quality product. •It also focuses on marketing and sale management. Key Activities • Website • AppKey Channels • Customer Service • Customer Support Customer Relationship • Fashion Enthusiast • Discount lovers Customer Segmentation
- 7. Marketing Strategy • Myntra uses both traditional and digital medial to promote itself in its promotional activities. • From full page End of Reason Sale ads in newspapers to celebrities doing their Diwali shopping on Myntra in the TV commercials, it has leveraged the traditional channels in a creative and effective way. • Apart from this, the company also keeps launching various promotional offers regularly on its website. • Customers are sent promotional emails and notified through customised in-app notifications about the exclusive offers they can avail on Myntra.
- 8. Digital Reality Show Myntra also ropes in celebrities, like Sonakshi Sinha to promote the brand. It started a show called "Myntra Fashion Superstar“ which was based on the fashion influencer talent hunt on Myntra app on 17 September 2019 in association with Zoom Studios to market the brand more extensively.
- 9. Other than that, Myntra also uses social media platforms, like Facebook and Instagram, to promote its sale season. In its End of Reason Sale (EORS) 2019, Myntra sold 1.77 lakh items within the first 10 minutes of the sale going live. Over 3.3 million products were sold on day one.
- 10. Myntra has recently launched a new service wherein the user can try clothes before buying them. Apart from providing e-tailing services and selling products for other brands online, Myntra also has a varied line of in-house branded products. The company is making fashion accessible to youth at affordable prices and fulfilling its key service proposition of “Convenient shopping experience at an affordable price”. Marketing Strategy
- 11. Marketing Strategy Myntra also collaborates with celebrities to come up with fashion labels inspired by them, for e.g. Deepika Padukone’s All About You in women ethnic and western wear and Hritik Roshan’s brand in sportswear.
- 12. SWOT Analysis Strengths: • Merger with Flipkart has increased its strength and capacity • Offering of more than 1.5 lakh products with over 1000 brands • Efficient supply chain and delivery capability helps it to cater to 90,000+ locations. • Good advertising and marketing campaigns on TV, internet and print Weakness: • Intense competition means limited market share growth
- 13. Opportunity: • Partnership with celebrity designers, Bollywood movies can increase its fashion appeal. • Expansion into global markets can boost business • Bridal collection to tap the big wedding market in India Threats: • Global competitors like Amazon slowly making its foray • Fashion segment is becoming popular leading to increased competition. • Economic fluctuations and unfavourable govt policies
- 14. Conclusion • Myntra has become a worth competing fashion e-commerce company because of its unique` business model and attractive discount offers. • Myntra also keeps on revising its marketing strategies with exigencies of time. • Therefore, Myntra is offering a good competition to e-commerce companies, especially in the apparels sector.