Myntra: The rising Sun in the eCommerce Industry

Myntra which started out in 2007 has become a rising sun in the world of eCommerce. The company has become one of the very few companies to register massive growth within just a few years of its coming into existence. Moreover, the company’s extensive tie-ups with brands means that they have cemented their reign in this sector and are likely to grow at a steady pace.

Throwing a Stiff Challenge

Myntra has been throwing a stiff challenge at its competitors by bringing in the best of clothing and apparels to India. The company has been instrumental in providing branded clothing at affordable rates and have caught the pulse of the urban professional specially the college going kids. This has also been the USP of the company which believes in offering the best at the most unbelievable prices.

Myntra’s Business Model

Myntra believes in getting the latest in fashionwear and making it available for purchase to buyers; however, they ensure that the products are available at a reasonable rate to maintain its appeal among the masses. This has gone down pretty well with the buyers and that has resulted in the mass appeal of Myntra as a brand.

Tieups with couponing websites

Myntra ties up with premium couponing websites and offers various types of discount coupons for products available at Myntra, this has proved to be a great marketing strategy and has helped the company tap into the Indian consumers mindset, who craves premium products at reasonable rates.

Focus of Business and Products

Myntra main focus has always been to bring the best products to the Indian consumer and it offers close to 50,000 products from around 600 national and international brands. Apart from shoes and western wear, Myntra also stocks up on ethnic Indian wear, which makes Myntra a complete online portal for clothing and apparels– if you have something in mind, Myntra probably has that in store.

Awards and Recognition

Myntra has received critical acclaim for its service and has been felicitated with multiple awards such as:•Myntra.com was announced as a winner of the Red Herring Global 100 award. Red Herring announced its Global 100 awards in recognition of leading private companies from North America, Europe, and Asia, celebrating these startups' innovations and technologies across their respective industries.

•Myntra.com won IAMAI's Best Ecommerce Website of the year award for 2012 at the 7th India Digital Summit, 2013.

•Myntra.com also won the Fashion eRetailer of the Year Award at the Indian eRetail Awards 2013 organised by Franchise India in Delhi.