Ananth Narayanan | Pixr8 News

15Jun By Gauri SinghNo Comments

BUSINESS

Myntra Plans to Expand Offline Business Aiming 100 Stores

The popular Indian e-commerce company Myntra is now on board to accelerate its growth by increasing the number of its offline stores from 12 to 100 in the coming two years’ time with the aim to make its private label business stronger. According to the reports, the fashion etailer will open 50 stores featuring its most selling and popular brand Roadster. Apart from this, the stores will also come up with brands like HRX and Mango, among others. Myntra already operates the franchise of the Mango label in India. The main purpose of expanding the offline presence is to strengthen the customer base for its brands. Ananth Narayanan, CEO of Myntra said, “We are not opening stores because we want them to be big sales centers. It is a great way to do branding for us and to provide the touch-an...

Myntra’s losses reduced by 25%, Aims to Track Profits for FY18

21May By Gauri SinghNo Comments

BUSINESS

Myntra’s losses reduced by 25%, Aims to Track Profits for FY18

Myntra’s marketing strategies and intelligence have lately given a boost to the fashion and lifestyle business of its parent company Flipkart. The losses for the FY17 have reduced by 25% to Rs. 655 crore as against Rs. 823 crore in the previous year. The major strategy adopted by the fashion and lifestyle etailer has been the focus on umbrella branding of its private labels, which means the ability of a single brand to reach across categories. The increase in the reach of private brands to the masses led to the decrease in losses for the company. The documents show that the losses presently stand at Rs 627 crore, lessening 23% on a standalone basis. The company’s three-year-old private label business has grown tremendously and accounts for about 25% of the overall revenue. In Septemb...

Mithun Sundar Joins Myntra to Grow Company

4Apr By Sheldan RungasamyNo Comments

News

Mithun Sundar Joins Myntra to Grow Company

Mithun Sundar, former PepsiCo Senior Director will now be taking over Myntra’s Naresh Krishnaswamy position as Chief Revenue Officer and assist Myntra in its journey in growing its operations and the business as well. Mithun will be heavily relied on in proposing and implementing strategies in the firm’s near and long-term future. Mithun, graduated his Bachelor Degree in Engineering at the IIT, Madras and his MBA at the Northwestern University – Kellogg School of Management. He was previously working for PepsiCo, where he operated as Senior Directo of Strategy for two and a half years is hugely praised for his role in driving sales, marketing and strategy for the leading international brand. Additionally, prior to joining PepsiCo, Mithun Sundar operated as Associate Partner for McKinsey...

Myntra-Jabong CEO Ananth Narayanan Joins Marico’s board

29Jun By Press Trust of IndiaNo Comments

News

Myntra-Jabong CEO Ananth Narayanan Joins Marico’s board

FMCG firm Marico has appointed Myntra-Jabong CEO Ananth Narayanan on its board as an additional (Independent) Director. Narayanan's appointment is for a five year time and is subject to the approval of the shareholders at the upcoming annual general meeting. With Narayanan's appointment, Marico's board now has six independent directors besides chairman and non-executive director Harsh Mariwala, MD & CEO Saugata Gupta and two non- executive directors. Narayanan, a Masters from the University of Michigan in Industrial Engineering and Operations Research, is also on the Industry Advisory Board of the university's Tauber Institute. He started his career with Mckinsey & Company where he worked for 15 years. Narayanan joined Myntra as CEO in July 2015 and has led multiple strate...

Will Achieve $1 Bn-GMV Figure This Fiscal, Says Myntra

23Aug By AnkitaNo Comments

News

Will Achieve $1 Bn-GMV Figure This Fiscal, Says Myntra

Flipkart-owned online fashion retailer Myntra today said it is on track to touch the USD 1 billion Gross Merchandise Value (GMV) mark this fiscal. Myntra also said it has become the first ever Indian fashion e-commerce platform to clock the USD 1 billion run rate in annualised average GMV (post discounts) in July. "We have now surpassed our January benchmark (USD 800 million) to make July 2016 the biggest month ever for Myntra. The annualised GMV run rate of USD 1 billion puts us on the path to touching the USD 1 billion GMV mark in a fiscal," Myntra CEO Ananth Narayanan told reporters here. He said in the past month, the company had taken some market transforming steps, and "our focus is to continue to transform fashion and lifestyle in India through technology." The reason why ...