Register in Myntra Site. Visit the following link myntra/register.php?ref=kumar.abhinay2@gmail About Myntra Myntra is an Indian e-commerce company of fashion and casual lifestyle products, headquartered in Bangalore, Karnataka The company was founded in 2007 by IITians Mukesh Bansal, Ashutosh Lawania and Vineet Saxena with a focus on personalization of gift items. By 2010, Myntra shifted its focus to the online retailing of branded apparel. Established in 2007 by Mukesh Bansal along with Ashutosh Lawania and Vineet Saxena, Myntra was in the business of on-demand personalization of gift items. It mainly operated on the B2B (business to business) model during its initial years. Between 2007 and 2010, the online portal allowed customers to personalize 15 products such as t-shirts, mugs, mouse pads, calendars, watches, teddy bears, pendants, wine glasses and jigsaw puzzles. Customers could order for these online and these would be home delivered in 3 days’ time. Within the initial 3 years, Myntra became India’s largest personalization platform with more than 50% of the market share. It also offered the personalization of jerseys of various cricket and football teams including the Indian cricket team, the IPL teams and the Premier League football teams. In 2010, it expanded its catalogue to include fashion and lifestyle products. 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 2011. Brands like Nike, Puma, Converse, Adidas, Decathlon, Reebok, Lee Cooper, Numero Uno, Sketchers, Crocs, Fila, Lotto, ID, Catwalk, Carlton London and Red Tape found the perfect online retail platform. Myntra also had casual wear for men and women from brands like Jealous 21, Forever New, Classic Polo, Inkfruit, Lee, Nike, Inc., Probase, Puma, Adidas, Reebok, Ed Hardy, Decathlon, Lotto, Mr. Men, Tantra and Guerilla. The website saw the launch of Fastrack watches and of Being Human, the brand. Myntra currently has more than 500 brands with over 60,000 products that are delivered almost everywhere in India using its delivery networks. 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 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 other Private Investors. 2014 also saw the merging of Myntra with another e-commerce giant Flipkart. Myntra continues to function and operate independently to increase its market share from 50 to 70 per cent of the market share.
Posted on: Fri, 05 Sep 2014 11:15:54 +0000
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