Final myntra
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The document discusses the objectives, vision, founder, and operations of Myntra, an Indian online fashion retailer. It aims to develop entrepreneurship among students and study Myntra's business model and consumer perception. Founded in 2007 by Mukesh Bansal, Myntra offers 50,000 products from 600 brands and has over 1,000 employees. It has received multiple rounds of funding and was acquired by Flipkart in 2014.
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![MADE BY: VINEET KUMAR [12MEU093]
VISHNU DUA [12MEU095]](https://image.slidesharecdn.com/finalmyntra-150423104154-conversion-gate01/75/Final-myntra-1-2048.jpg)
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Final myntra
- 1. MADE BY: VINEET KUMAR [12MEU093] VISHNU DUA [12MEU095]
- 2. OBJECTIVE The main objective is to develop entrepreneurial spirits among the students and make them understand what is entrepreneurship all about. To study the business models of Myntra. To study the consumer perception of Myntra. To study the future of Indian e-commerce Industry.
- 3. VISION To be the largest fashion and lifestyle retail in India, and whenever someone thinks of buying apparel, footwear or any other fashion and lifestyle item they should think of Myntra first. Even if they’re buying offline, they should check it out online on Myntra first and then buy it. Myntra also has planned tie ups with celebrities through associations with movies and events as they represent fashion sense.
- 4. MUKESH BANSAL Mukesh Bansal grew up in Haridwar. He is a graduate in computer science from IIT Kanpur. He spent 10 years in the US, working with start-ups such as Nextag and eWanted. He then moved to India in 2007 to start Myntra. His family used to be in apparel trade, before his father got a job with
- 5. PANEL WINDOW
- 6. ABOUT MYNTRA It is an Indian online shopping retailer headquartered in Bangalore. Established in 2007 by Mukesh Bansal along with Ashutosh Lawania and Vineet Saxena. It currently offers close to 50,000 products from more than 600 Indian and international brands. Employee count of myntra is over a thousand people.
- 7. In 2011, Myntra tied up with various popular brands to retail a wide range of latest merchandise from these brands. Myntra offered products from 350 Indian and International brands by 2012. Brands like Nike, Puma, Converse, Adidas,Reebok, Lee Cooper, Numero Uno, Sketchers, Fila, Lotto, ID, Catwalk, Carlton London and Red Tape found the perfect online retail platform. Myntra currently has more than 1000 brands with over 1,50,000 products that are delivered almost everywhere in India using its vast and efficient delivery networks.
- 8. STATISTICS It has turnover of Rs.500cr. in 2013-2014. Google page rank 5/10. Total estimated website traffic net worth $9.5 million USD. It has been receiving a daily page views of 4.3 millions hits. It should generate an estimated daily advertisement revenue of $12,992 USD and monthly advertisement revenue of $389,764 USD. The average page load 1.48 seconds which is 55% faster than other websites around the world.Source:freewebsitereport
- 9. Myntra set to become ‘mobile- only’ by 2015 “Growth in mobile commerce continues to beat our expectations month-on-month, and we will close this financial year ending March 31, 2015 with 75 per cent of our revenue coming from mobile. Of this, 60 per cent of mobile traffic will come through our Myntra app and the rest through the mobile web browser. This is because navigation is faster and more intuitive on the Myntra mobile app compared to the mobile web browser which is slower” - Prasad Kompalli Head of Sales & Marketing, Myntra Source:Thehindubusinessli
- 11. Fitiquette a developer of virtual fitting room technology has been acquired by Myntra. Fitiquette is a virtual fitting room. Shoppers can create a virtual imitation of themselves in order to try-on and buy their clothing offering online. What is unique about it is that the clothing we select is represented true to size based on a series of measurements. (ex. S, M, L, XL)
- 12. BUSINESS MODEL
- 13. SHAREHOLDERS Flipkart has almost 50% of the shares of Myntra. Bansal and Lawania, both IIT-Kanpur alumnus, owns about 20% of Myntra.com, will continue to run the company even after Flipkart.com takes it over. Their individual shareholdings were not available. Two other co-promoters have left the company. Accel Partners, owns 10% in each of the companies Flipkart and Myntra. Wipro chairman Azim Premji, who recently bought a 10% stake in Myntra for Rs 150 crore.
- 14. MARKETING Myntra has successfully used social networking websites Facebook and Twitter to expand its customer base. Myntra positions itself as a fashionable new age brand. It launches major marketing campaigns every year. Myntra has used mostly viral marketing and internet for its popularity coupled with occasional discounts and referral discounts. Myntra left its mark of innovation through online coupons. Offical team India jersey.
- 15. FUNDINGS In October 2007, Myntra received its initial funding from Erasmic Venture Fund now known as Accel Partners, Sasha Mirchandani from Mumbai Angels and a few other investors. In November 2008, Myntra raised almost $5 million from NEA-IndoUS Ventures, IDG Ventures and Accel Partners. Myntra raised $14 million in a Series B round of funding. This round of investment was led by Tiger Global, a private equity firm; the existing investors IDG Ventures and Indo-US Venture Partners also put in substantial amount towards funding Myntra. Towards the end of 2011, Myntra.com raised $20 million in its third round of funding, again led by Tiger Global. In February 2014, Myntra raised additional $50 Million (Rs.310 crore) funding from Premji Invest and few
- 16. REVENUE MODEL Myntra.com is an aggregator of many brands. Its business model is based on procuring current season merchandise from various brands and making them available on the portal at the same time as in respective retail brand outlets. It is a Business to Customer (B to C) revenue model.
- 18. SWOT ANALYSIS OF MYNTRA • Strong funding • Delivery And Support • Variety of products • Innovative Services Strength • Lack Of Infrastructure • Inter State Movement of Products • Consumer Mindset Weakness • Market Segment • Growth in Internet Traffic • New technologies • Change in Mindset of the youth Opportunity • Competition in the market • Successful competitors • Consumer Mindset • Government regulation • Product Retailers Threat
- 19. Flipkart's Myntra merger can't stop Amazon Amazon has already come up as a true innovator for the 'hungry-for-more' Indian consumer. Mobile apps, same-day delivery, superb brand and the ability to deliver goods to the last man standing. It covers more than 20,000 PIN codes. Its pace of growth in such a short time is no magic. Amazon has been the top player across the world, and the size of its pocket, coupled with no investor-driven hurry will speak for itself in the Indian market soon enough.
- 20. FINE FOR TAX EVASION The Kerala state department has slapped a fine of up to Rs 54 crore on a slew of e-retail players for evasion of sales tax in 2012-13 and 2013-14. Source:http://trak.in/
- 21. CHALLENGES Logistics is an important aspect of any ecommerce company and Myntra’s model for success is its Hybrid logistics models. They have distributed the operational logistics between themselves and third party service providers on the basis of geography. In the early days, hiring was one of the biggest challenges that we faced. We worked from a home and people who came for interviews saw this, they used to leave at the doorstep, without even coming in. So in the beginning, we had really focused on people who wanted to be entrepreneurs. With time we have overcome this challenge. Myntra today is in creating a balance between profitability and growth; the balance between investing to grow and staying profitable. “Cost is a function of the capacity that you want to build in your brand; the more capacity that you want to build the more cost that you spend on it. It is also a function of how long before you need it, you’re building your capacity, for example are you building capacity 3 or 6 months in advance to the time of need. We can use lean principles to keep the costs down; doing things just in time also helps.”
- 22. RECOGNITIONS Awarded 'Fashion eRetailer of the Year 2013' by Franchise India – Indian eRetail Awards Awarded 'Best E-commerce Website for 2012' by IAMAI – India Digital Awards Awarded 'Images Most Admired Retailer of the Year: Non–Store Retail' for 2012 by Images Group Awarded 'Best E-commerce Partner of the year 2011-12' by Puma India
- 23. CONCLUSION Marketing and Sales is a core activity of Myntra. By looking at the popularity of Myntra we can conclude that Myntra is doing a much better job in Marketing & providing its services to customer. From the above findings we can easily conclude that Myntra has more competitive advantage, not only with price and quality but with the perception of the consumer as well. People had a better shopping experience with Myntra.com.
- 24. THANK YOU “Without the help of the best team, the best technology and the best infrastructure, it is impossible to set up a successful ecommerce business in India” -Mukesh Bansal