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  • News:Myntra counts on offline retailers to push profits with its in-house brands

    Myntra offline @LogicserveDigi

    To push its profits, Myntra, an app-based fashion retailer, is counting on its in-house brands at the time when local e-tailers are under stress to chop off their cash burns and earn some profits.

    Among more than dozen of Myntra’s own labels, Roadster, one of the top selling brand, in this year, clocked sales of Rs. 320 Crore and eyes to become Rs. 650 Crore ( $100 million) brand by 2016. After Roadster, brands such as Dressberry, All About You, and HRX are the highest grossing in-house labels.

    Acquired by Flipkart last year, Myntra clocks more than Rs. 700 Crore in sales from all its in-house brands and is geared up to end the year at $550 million in GMV (Gross Merchandise Value).

    Focussing on in-house labels online, Myntra has put its labels in direct competition with brick and mortar stores such as Lifestyle, Shoppers Stop, Spencers and Future Group.

    According to Anant Narayanan, Myntra’s CEO, by 2016 the firm expects to collect in around Rs. 2000 Crore from its in-house brands, a timeline when it plans to strike Rs. 6500 Crore ($1 Bn) in GMV.

    Considering the leadership position Myntra enjoys in the fashion and lifestyle market, experts said that a successful private label strategy will allow the e-tailer to benefit from the margins in the range of 40-50%.

    Reference: https://goo.gl/dhomLL

  • News: Myntra Wants Margins Up to 38 – 40% from its E-retailers

    Myntra wants margins @LogicserveDigi

    Currently, enjoying a Numero Uno position in the fashion e-space, Myntra is seeking out more margins from its e-retailers. Myntra is known to have demanded margins of up to 36 – 40% from the previous margins of 28– 32% from e-retailers and thus making them feel uncomfortable.

    Several e-retailers selling fashion accessories, apparel, footwear and lifestyle products to Myntra have been approached by them with similar demands. Most of these e-retailers are solely dependent on online volume sales for their existence. On the other hand, brick and mortar franchises operate at margins in the range of 30-35%.

    Also, since these ecommerce giants need to earn decent profits for sustenance whilst offering attractive discounts to their shoppers, it is these vendors who have to cough up decent margins for continuing their business. Most vendors are in a tight spot and wary of the usual sales pressure tactics undertaken by these ecommerce giants.

    LogicSpeak:

    With fashion e-retail going big ways, it is time ecommerce giants work on ways to generate profits by setting in place a cost effective supply chain and reducing marketing and staff expenses rather than hiking margins from their vendors. Ecommerce giants and vendors need to work towards evolving a mutually beneficial work relationship for each other’s sustenance in the future.

    Source – https://goo.gl/zZophq

  • News: Flipkart closes deal for office campus and Myntra to open a London office.

    Flipkart and Myntra LogicserveDIgi

    Flipkart closes deal for 3 million sq ft campus

    Flipkart has closed the highest deal for custom built office campus with local builder in Banglaore named Embassy group for three million sq ft in Bangalore.

    The first phase of the new campus is said to be delivered by the group early next year with an incubation facility of 2,400. One million sq ft of office space will space seats between 10,000- 12,000 people.

    An Embassy official confirmed the deal and Flipkart couldn’t be reached for a comment.

    LogicSpeak:

    With the improvement in economy, top cities are seeing a spike in office spaces. Many large companies such as Deloitte and Tata Consultancy Services have already added to this trend.

    Source: https://goo.gl/6n0Ca8

     

     

    Myntra plans to open a London Office for European Foray

    Banglore based fashion retailer Myntra is in the process of setting up an office in London and plans to expand to New York in another year.

    The company has appointed Mark Sebba, who retired as the Chief Executive of Neta-Porter earlier this year as an advisor.

    As fashion and lifestyle are becoming a growing category portals like Myntra and Jabong are looking to scale further. According to retail company Technopak fashion accounts to 25% of the online retail industry’s sales. It is expected to reach 30% by 2019.

    Source: https://goo.gl/d6kehJ

  • News : Flipkart may announce Myntra buyout today!

    News : Flipkart may announce Myntra buyout today!

    Flipkart and Myntra @LogicserveDigi

    If we go by the news reported in ET Retail then one can believe that Flipkart may announce Myntra buyout today.

    Flipkart is likely to acquire a majority stake in online fashion retailer Myntra. It could turn out to be one of the biggest consolidations in India’s e-commerce sector.

    As per the sources mentioned in ET Retail, the deal could be worth around Rs. 2,000 crore. It is said that Myntra has sent out invitations to press for a conference in Bangalore tomorrow. So, they might share the transaction details then.

    LogicSpeak:

    India’s E-commerce market has seen a tremendous growth over the past few years. There are many trends that have come up and this deal might take the industry to the next level. One has to wait and watch how this will pan out for the e-commerce space.

    Link: https://bit.ly/1m7EWCu

  • News : E-commerce site Myntra to launch its own marketplace in April

    News : E-commerce site Myntra to launch its own marketplace in April

    LogicNews @LogicserveDigi

    The market place will enable local merchants to sell their products through this platform. The move is aimed at market penetration in smaller towns and cities. The company is looking forward to sign up to 500 vendors within the first year of operations. The co-founder shares that, they will continue selling branded products through its inventory model and give space for the local marketers to sell via the marketplace.

    LogicSpeak     :

    E-commerce players like Flipkart and Snapdeal already follow the marketplace format. It was just about time that other famous portals join the bandwagon. This highlights the trend of integrating local markets with online ones. In all a move beneficial for both the consumers as well as e-commerce portals.

    You can know more about the latest development in the e-commerce space at https://bit.ly/1aBJTBh

    Link : https://bit.ly/1e5UFLa

  • News: India’s first shoppable hangout with Myntra and Hrithik Roshan and more

    In what can be considered as an effort for Google’s move in Indian e-commerce, it has come up with the country’s first shoppable hangout. It has roped in online retail shop Myntra and Bollywood actor Hrithik Roshan for hosting the first event.

    Hrithik Roshan, launched HRX, a private label will hangout in the air at Myntra’s Youtube channel. Fans will be able to interact with the star. Myntra is running a contest to select a winner for the Hangout.

    LogicSpeak :

    A unique initiative, this is a good start on seeing the integration of customer service and social media to the next level. The popularity of the hangout will pave ways for coming up with innovative ideas in the e-commerce space.

    Source: https://bit.ly/1aaBhf9

     

    Other news:

    With Personalisation Suite, Targeting Mantra Ups Conversion Rates for Ecommerce Stores
    While working in the core personalization team at Amazon, Saurabh Nangia realised that most online businesses and small businesses lacked user personalization and targeting.

    Link: https://www.nextbigwhat.com/personalisation-tools-for-ecommerce-targeting-mantra-297/

     

    Vodafone India Opens Up App Developer Platform With API Access
    Vodafone India has launched Vodafone Developer Platform for app developers and content service providers, both local and international, to connect with Vodafone in order to offer operator billing.

    Link: https://www.nextbigwhat.com/vodafone-india-developer-platform-297/

     

     

    Groupon Beefs up its team; hires top Indian exc from Walmart Labs.
    Groupon Inc. has beefed up its executive team with two hires, including a vice president from the Silicon Valley e-commerce research unit of Wal-Mart Stores Inc.

    Link: https://www.etailingindia.com/groupon-beefs-its-team-hires-top-indian-exec-walmart-labsetailingindia

     

     

    The year in e-commerce in investments and mergers
    Investors and buyers put $19.67 billion into digital media and commerce firms in 2013, according to Petsky Prunier, an investment bank that tracks the number of transactions and the reported value of those transactions

    Link    : https://www.etailingindia.com/year-e-commerce-investments-and-mergersetailingindia

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