Myntra Start-ups case study.

About :

Myntra is an e-commerce fashion website where fashionable clothes are sold on it. It connects all the fashionable clothes of different cultures and spreads throughout the country to make it more beautiful.

• Area served: India
• Founder(s): Mukesh Bansal, Vineet Saxena, Ashutosh Lawania
• CEO: Amar Nagaram.
• Parent: Flipkart.

Funding and investors:

In such a Series B funding round Myntra raised $14 million. Tiger Global, a private equity firm, led this investment round; the existing investors IDG Ventures and Indo-US Venture Partners also put vast quantities towards Myntra funding.

Business model:

Myntra fashionable clothes are sold with the help of mobile apps and websites. People place their orders directly on the app or on the website. In this way, companies register their order and start packing, and with the help of delivery customers get their order. Even they give coupes to the sellers to make their sales ongoing.

Marketing Strategies:

• Fast product delivery services attract more customers
• Myntra unique selling proposition
• Myntra segmentation targeting and positioning
• Myntra Good Marketing Communication.
• Myntra websites connect so many customers all over the country.

Challenges faced by:

• Packaging the cloths at the distribution
• Huge transportation costs with very low margins on orders to run
• Prior distribution date,
• Keeps reliable backups and is fast and efficient.
• There is already a very strong competition on the market, which has defined customer criteria to succeed.
• Good fiber for the use in clothes
• Sometimes people get bad clothes fiber exchanging again take too much time and customers get disappointed
• Maintaining their trust is no easy task.

Successive factor :

• Low prices
• Fast delivery speed
• Vast selection
• Convenience experience
• Good product services
• Good fiber cloths

Result:

In FY 2018, the sales of Myntra Designs, a seller of online apparel, dropped 80 percent over March 2018 and saw revenues fall by $60.6 Mn (INR 427 Cr). The firm was liable for the year ended March 2018.

The e-tailer trend had reported losses in the last year, according to Tofler, of Rs 151.22 crore, documents from the business intelligence site. But in the previous fiscal year, business operating sales more than doubled to Rs 1.041.10 crore from Rs 398.33 in FY 19.

I hope you like this startup.