The online retailer had nurtured about a dozen startups in 2014 as part of a programme then known as the Myntra Fashion Incubator.
Myntra had acquired rival Jabong earlier this year, beating Future Group and Snapdeal to the punch, to bolster its position in India’s online fashion retail business.
Started by husband-and-wife duo Vivek Prabhakar and Shubhra Chadda, the company initially supplied to multi-brand stores and today operates 18 Chumbak-branded stores in various popular malls and high streets.
Myntra is technologically bringing stores and warehouses of 10 major brands on its platform to give real-time access to consumers to merchandise that are closer to them for faster delivery from nearby outlets or distribution centres.
Ikea is readying its “temporary” corporate office in Manyata Embassy Business Park in Bengaluru, which will house about 300 staff.
Myntra is now trying to bring Jabong back to financial health after the Gurgaon-based company lost sheen over the years as costs rose and losses spiralled.
Flipkart may soon offer discounts on multiple products delivered in a single box, a service modelled on US ecomm startup’s Smart Cart.
Cash-and-carry is currently a Rs 6,800-crore market in India, and has been growing at an annual rate of 13%, faster than modern trade but on a lower base.
Ecommerce companies’ cash-on-delivery (COD) option was immediately impacted after November 8 when India announced scrapping of old high-denomination notes.
The All India Online Vendor Association (AIOVA) has since tweeted its way to prominence, landing meetings with ministers and top government officials.
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