Latest Pretr News
Mar 18, 2021
Myntra—Business Plan Myntra earns by following an aggregator model. The main business plan of Myntra is buying latest merchandise and selling it to the customers. Buying current season merchandise from several popular and quality brands, and making the product/item available on its website. The main earning of Myntra comes from the commission. The revenue model of Myntra is that of B2C (Business to customer) Before discussing its subsidiaries and acquisitions we need to understand two basic things. What is a SUBSIDIARY? A subsidiary, subsidiary company, or daughter company is a company that is owned or controlled by another company, which is called the Parent company, Parent, or Holding company. The subsidiary can be a company, corporation, or limited liability company. So basically speaking, when a particular company A owns/ acquires more than fifty percent of the voting stock of another company B, then in such circumstances company B becomes the subsidiary of Company A and obtaining control of its operations. The Owner of Myntra- Mukesh Bansal Myntra—Its Subsidiaries In 2014, Myntra was acquired by Flipkart during a deal valued at ₹2,000 Cr. In 2014, Myntra included about 1,50,000 products of over 1000 brands, catering to over 9000 pin codes in India. In 2015, Ananth Narayanan became the Chief Executive Officer of Myntra. On 10 May 2015, Myntra announced that it might pack up its website, and serve customers exclusively through its mobile app beginning 15 May 2015. But it was a failure. In February 2016, acknowledging the failure of the "app-only" model, Myntra announced that it might revive its website. In 2014 Myntra was acquired by Flipkart during a deal valued at ₹2,000 crores (US$280 million). Myntra functions and operates independently. Myntra continues to work as a standalone brand under Flipkart ownership, focusing totally on "fashion-conscious" consumers. Indian E-Commerce Market Share Myntra—Its Acquisitions In April 2015, Myntra acquired Mobile app development company Native5, to strengthen and expand Myntra’s mobile technology team. In July 2016, Acquired mobile-based content aggregation platform Cubeit, for strengthening its technology team. In July 2016 Myntra acquired their rival Jabong.com to become India’s largest fashion platform. In October 2017, Myntra went partnership with the Ministry of Textiles to promote the handloom industry. April 2017, Acquired In Logg, a city-based technology platform that provides end-to-end logistics solutions for the e-commerce sector. In April 2018, Myntra bought Bengaluru-based start-up Witworks, a maker of wearable devices to strengthen its technology team. Myntra—Its Major Investors 1. Fitiquette It is based in Sans Francisco. It is globally the first virtual dressing room platform enabling online shoppers to virtually ‘try before they buy, providing an online shopping experience that is very similar to the offline model. FITIQUETTE’s innovation generates a virtual mannequin based on various body types to which users can further adjust each specific measurement according to their body until it closely mirrors their own. What is unique about it is that the clothing we select is represented true to size based on a series of measurements. (Example. S, M, L, XL). Thus enabling to offer a true-to-size, visual fitting experience. Fitiquette utilizes a patent-pending technology that gives users a 360-degree view of the fit and drape of a garment on their own customized models. 2. Roadster Myntra Designs Pvt. Ltd, a wholly-owned subsidiary of Flipkart owns the fashion brand Roadster. Roadster, which was launched in December 2012, constitutes close to 7% of the e-tailer's sales. Vanni Lenci is Myntra's lead designer for the Roadster brand. Roadster, Myntra's outdoor lifestyle brand, has launched an all-new licensed Roadster MotoGP collection, becoming the first Indian brand to enter into an exclusive collaboration with the world's premier motorcycling championship. Aug 18, 2016. So it is not surprising that, in spite of having Deepika Padukone’s "All About you" and Hrithik Roshan’s "HRX" brands in its pocket, Roadster is the biggest moneymaker for Myntra. 3. XS Brands Consultancy Private Limited It is categorized under Company limited by Shares and Private offering Business Services as its principal business activity. The company is headed by VISHWANATH SHIDRAMAPPA KOLHAR, PRAVEEN KUMAR SRIVASTAVA, AFSAR ZAIDI, KAMAL INDUR PUNWANI, and PARUL GUPTA and it was incorporated on Dec 28, 2010. Its legalized share capital is 10,00,000 and its paid-up capital is 4,16,670. 4. Pretr Online Services Private Limited Pretr was launched in 2016 by Bhavik Jhaveri and Ankur Joshi, two technology executives. Pretr is currently operational in Mumbai. Pretr Online Services Private Limited is a Private incorporated on 17 November 2015. It is classified as a Non-govt company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 1,000,000 and its paid-up capital is Rs. 757,520. It is involved in Legal, accounting, book-keeping and Pretr Online Services Private Limited is a Private incorporated on 17 November 2015. It is classified as a Non-govt company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 1,000,000 and its paid-up capital is Rs. 757,520. It is involved in Legal, accounting, book-keeping, and auditing activities; tax consultancy; market research and public opinion polling; business and management consultancy activities; tax consultancy; market research and public opinion polling; business and management consultancy on 17 November 2015. It is classified as a Non-govt company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 1,000,000 and its paid-up capital is Rs. 757,520. It is involved in Legal, accounting, book-keeping, and auditing activities; tax consultancy; market research and public opinion polling; business and management consultancy. Myntra will use Pretr’s technology, which includes order management and store analytics, on its platform and also offer it to its partner brands which include Esprit and Mango as well as its own private labels such as HRX and Moda Rapido. 5. Xerion Retail Private Limited Overview: Xerion Retail Private Limited, also popularly known as Jabong, is an unlisted private company. It was incorporated on 23 September 2011 and is located in Gurgaon, Haryana. It is classified as a private limited company. Description: Xerion Retail Private Limited operates an online fashion and lifestyle store Products & Services: clothing, bags, shoes, sunglasses, jewelry, watches 6. Grid Ant Technologies Private Limited It is a Private incorporated on 06 August 2012. It is classified as a Non-govt company and is registered at Registrar of Companies, Ahmedabad. Its authorized share capital is Rs. 200,000 and its paid-up capital is Rs. 125,000. It is involved in Software publishing, consultancy, and supply [Software publishing includes production, supply, and documentation of ready-made (non-customized) software, operating systems software, business & other applications software, computer games software for all platforms. Consultancy includes providing the best solution in the form of custom software after analyzing the user's needs and problems. Custom software also includes made-to-order software based on orders from specific users. Also, included are writing of software of any kind following directives of the users; software maintenance, web-page design]. Grid Ant Technologies Private Limited's Annual General Meeting (AGM) was last held on 28 September 2018 and as per records from the Ministry of Corporate Affairs (MCA), its balance sheet was last filed on 31 March 2018. Directors of Grid Ant Technologies Private Limited are Nithin Kumar Gadiparthi, Prathamesh Arvind Juvatkar, Sarthak Jain Ashok 7. Witworks Consumer Technologies Private Limited Witworks Consumer Technologies Private Limited operates as a consumer technology company. The Company manufactures wearable products such as smart shoes, connected smartwatches, and intelligent clothing with biosensors. Witworks Consumer Technologies serves customers in India. Over the year Myntra has kept up to its image and thrived. It has never compromised with its quality and has kept a steady customer service. Its business is well-maintained leading in the first click to online fashion. FAQ's 1. Does Myntra sell fake products? Ans- No, Myntra does not sell counterfeit products at all. If someone gets a bit downgraded product from any of the leading brands, consider it as the brand's product only (Myntra is an aggregator and seller of the products). 2. Is Myntra good for clothes? Ans- If you are the one who wants to explore more before buying then Myntra is the best option for you. Myntra has a huge variety of brands. 3. Why Myntra is expensive? Ans- The one things great about Myntra is - the variety and size availability. They are also the market leaders and that's perhaps the only reason for the pricing. People do buy at Myntra without even looking at other Portals. 4. Is Myntra profitable? Ans- Myntra Designs revenue up 58% to Rs 1,719 crore, losses increase by 38% Walmart-owned online fashion retailer Myntra Designs Private Limited reported its revenues for the financial year 2019-20 as Rs 1,719 crore, a 58 per cent jump since the last financial year.