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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...

SpaceX launches Falcon Heavy with Elon Musk’s Tesla Car in it

7Feb By Sabhyata AgarwalNo Comments

News

SpaceX launches Falcon Heavy with Elon Musk’s Tesla Car in it

SpaceX launched its most powerful rocket, Falcon Heavy on Tuesday around 3:45 pm ET, from Kennedy Space Center in Florida. Thousands of witnesses were heard cheering on the company's live stream in Florida, which was viewed by 3 million people from all around the world. More photos from Falcon Heavy's first flight → https://t.co/095WHX44BX pic.twitter.com/6vlXJoYif0 — SpaceX (@SpaceX) 7 February 2018 Although it wasn't clear up to the launch that the rocket would work or not. The rocket's smooth take-off stunned everyone. However, the most magnificent thing about the Falcon Heavy wasn't only its convincing muscular body but also a fact that it carried Elon Musk's personal Tesla (TSLA)roadster along with three hefty telecommunications satellites into orbit. "Pe...

SpaceX’s Falcon Heavy Will Take Tesla’s Roadster To Mars

2Dec By RishabhNo Comments

News, Tech

SpaceX’s Falcon Heavy Will Take Tesla’s Roadster To Mars

SpaceX CEO Elon Musk has up the stakes of an already difficult situation by today tweeting that the SpaceX's most powerful reusable rocket Falcon Heavy will launch next month from Apollo 11 pad. It was originally scheduled for November but the time was up for the launch. But, Elon Musk has seemingly confirmed the launch in the month of December. Falcon Heavy to launch next month from Apollo 11 pad at the Cape. Will have double thrust of next largest rocket. Guaranteed to be exciting, one way or another. — Elon Musk (@elonmusk) December 2, 2017 Not only that, Falcon Heavy will be carrying Elon Musk's Tesla Roadster into the space. Musk first tweeted the idea on Friday evening. Payload will be my midnight cherry Tesla Roadster playing Space Oddity. Destination...

Tesla’s Unfettered Ambition Will Drain Finances: Analysts

18Nov By reutersNo Comments

ANALYSIS

Tesla’s Unfettered Ambition Will Drain Finances: Analysts

Tesla Inc may have to ask creditors and shareholders for more capital to fund development of an electric semi truck, a new roadster and accelerated production of a high-volume electric sedan, analysts said on Friday. Musk unveiled one flashy strategy for generating cash during the launch event Thursday for the Semi truck, surprising the audience with a prototype of a new generation of the Tesla Roadster. Musk promised the Roadster will be the fastest production car available. The first 1,000 cars will cost $250,000 each, paid in full upfront, with later models starting at $200,000. Those deposits would put $250 million into Tesla’s cash drawer today for a car that is likely to go into production in 2020. Musk did not offer details about how Tesla would generate additional funds to...