Moneycontrol
Last Updated : Aug 22, 2014 10:40 PM IST | Source: CNBC-TV18

Myntra enters new spaces post merger with Flipkart

The next one and a half yrs will be crucial for Myntra as it gears up to grab a bigger chunk of the fashion retail pie... especially with competition heating up from the other biggie Arvind, which is getting into the personalised styling space as well.


Apparel e-commerce Myntra has been on a roll post its collaboration with Flipkart. The ecommerce fashion retailer has now entered personalised online style service post launching more brands under private labels and foraying into premium designer collection.


Mukesh Bansal, CEO, Myntra, Head-Fashion, Flipkart says, “We've got great chemistry between Flipkart management team and Myntra management team. We operate the biz independently while we are strategizing at the group level.”


It is this strategising that Myntra is banking on to take its market share in the fashion retail space from the current 50 percent, to 70 percent. However, there are numerous threads that, if pulled, could unravel the fabric of its growth. Case in point: the Rs 1,000 crore fine imposed on Flipkart by the Enforecment Directorsate on allegations of FEMA violations. But Myntra refuses to be needled.


“We are in compliance with the law of the land and we have not violated anything. This is not something we spend time discussing. We have been collaborating with authorities and will continue doing that,” Bansal adds.

The next one and a half yrs will be crucial for Myntra as it gears up to grab a bigger chunk of the fashion retail pie... especially with competition heating up from the other biggie Arvind, which is getting into the personalised styling space as well.

First Published on Aug 21, 2014 10:16 pm
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