Latest news with #FlipkartGroup
Mint
04-07-2025
- Business
- Mint
Myntra aims to stream glamour through stories, stars and songs
Online fashion portal Myntra, part of Walmart-backed Flipkart Group, is sharpening its content-led commerce game with the launch of Glamstream, a shoppable lifestyle content destination that brings together music videos, podcasts and bite-sized stories featuring celebrities and influencers. The company, which has onboarded film stars such as Zeenat Aman, Vijay Deverakonda, Raveena Tandon, and Tabu and rapper Badshah to feature in lifestyle content spanning fiction and songs, will allow users to shop products displayed or used in the content. Glamstream was rolled out on Friday with over 4,000 content episodes spanning 500-plus hours. 'We've noticed that over 70% of shoppers rely on influencer content to make purchases and are looking for relatability in what they buy. While we've been putting out content featuring influencers on our app for a year-and-a-half, we are adding celebrity videos now,'Sunder Balasubramanian,chief marketing officer, Myntra, said in an interview. The company has onboarded over 100 celebrities for this initiative that will include everything from styling shows to podcasts and music videos, he added. To be sure, Myntra isn't new to the social commerce game. In 2021, it had announced the launch of M-Live, a live video streaming and live commerce section, on its app that built on its existing plank of content-led commerce initiatives such as Myntra Studio and Myntra Fashion Superstar. The former is a personalised content destination and provides users access to over 20,000 fashion, beauty, and lifestyle tips and ideas. Myntra Fashion Superstar is an online reality show that works as a talent platform to identify emerging fashion and beauty influencers. Content-led commerce is booming in India, with platforms and brands leveraging stories, songs, and music by digital creators and influencers to drive product discovery and social commerce platforms like Trell and Roposo lead the surge, while some other brands have integrated content and commerce through acquisitions and in-house content creation. Roposo, for example, focuses on creator-led live commerce, where creators can host their own pop-up stores and engage with users through live streams. Short video platform Moj has partnered with Flipkart, allowing users to purchase Flipkart-tagged products directly from within the videos. Similarly, social commerce platform Meesho focuses on an assisted shopping model, empowering women entrepreneurs to resell products, particularly in tier-2 and tier-3 experts point out that innovations in video marketing—both through short-video apps and social commerce apps, have aided the surge that took place in online shopping during the pandemic. They allow for a click on products for purchase, often with the video being played on the side. According to a Bain& Company report in 2020, social commerce in India (in terms of gross merchandise value) is projected to reach $16-20 billion by 2025 and $60-70 billion by 2030. In the Ficci-EY media and entertainment report 2025, Anupriya Acharya, chief executive officer of Publicis Groupe South Asia, had said that the media and entertainment sector is evolving with consolidation, quick commerce, and niche influencers. 'AI, data, and tech-driven storytelling will deepen content, commerce, and community convergence, making 2025 a pivotal year for interactive, shoppable experiences,' she had added. Balasubramanian said the idea of the latest initiative is to marry inspiration and shopping at a unique scale, given the company's 70 million monthly active user base. 'The future of shopping is content-led commerce,' he added.
Fashion Network
12-06-2025
- Business
- Fashion Network
Flipkart Group CEO Kalyan Krishnamurthy meets with farmers in Malur
Flipkart Group CEO Kalyan Krishnamurthy visited Malur to meet farmers supplying fresh produce to the e-commerce company's hyperlocal service Flipkart Minutes, as part of its focus on inclusive growth through direct sourcing. Krishnamurthy was joined by Flipkart Minutes vice president Kabeer Biswas at a Flipkart Minutes fulfilment store, where they interacted with several small-scale farmers, the business announced in a press release. Among them was Krishnappa, who grows capsicum, cucumber, and chillies across four acres of land, and Padma, who has cultivated coriander, methi, and palak on her three-acre farm for over a decade. The visit highlighted Flipkart's direct sourcing model, which is designed to connect local farmers with urban consumers through a streamlined supply chain. Produce is delivered fresh to Flipkart's fulfilment centres every morning before reaching customers within minutes through Flipkart Minutes. Later in the day, Krishnamurthy and Biswas surprised customers in parts of Bengaluru including Boganahalli and Bellandur by personally delivering orders as Flipkart Wishmasters. The initiative forms part of Flipkart's ongoing efforts to strengthen its fresh food supply chain while fostering sustainable, long-term partnerships with farming communities across India.
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Business Standard
30-05-2025
- Business
- Business Standard
Myntra adds 20,000 jobs for EORS, expands workforce across India
Myntra, the online fashion retailer owned by Walmart-backed Flipkart Group, has facilitated the creation of over 20,000 temporary employment opportunities through its partner network. This is in preparation for the 22nd edition of its flagship End of Reason Sale, which begins on 31 May. The additional workforce is being deployed to bolster logistics, customer support, and last-mile delivery operations. Roughly 22 per cent of the newly recruited personnel at Myntra 's warehouses are women, assigned to roles such as sorting, grading, and packing across fulfilment centres in major hubs including Bengaluru, Mumbai, Kolkata, and Delhi. The company highlighted the geographic diversity of the expanded workforce, which includes recruits from across the country, spanning states such as Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Jharkhand, Mizoram, Odisha, Tripura, West Bengal, Himachal Pradesh, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand. The move highlights Myntra's operational ramp-up ahead of one of its biggest annual sales events, as it looks to meet surging customer demand while emphasising inclusive hiring and regional representation. 'The creation of over 20,000 employment opportunities for the 22nd edition of EORS to meet the expected surge in demand is a testament to our 'Customer First' commitment,' said Govindraj M K, Chief Human Resources Officer, Myntra. 'It is great to see a strong representation of women and the inclusion of people from diverse regions.' Myntra's latest hiring push is expected to play a critical role in supporting seamless deliveries during the EORS. The sale will feature an expansive line-up of more than 10,000 brands and over four million product styles, aimed at catering to the platform's 70 million monthly active users. The Bengaluru-based fashion e-commerce company said the upcoming edition will also mark the debut of over 300,000 new styles. The sale will serve as a launchpad for fresh collections across multiple categories from leading domestic and international brands.
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Business Standard
28-05-2025
- Business
- Business Standard
Myntra raises ₹1,062 cr from parent firm in fresh capital infusion
The Flipkart-owned platform eyes growth in Singapore and beyond, posts Rs 30.9 crore profit in FY24, and readies for its flagship sale event starting May 31 Peerzada Abrar Listen to This Article Myntra, the online fashion platform owned by Walmart-backed Flipkart Group, has secured Rs 1,062.5 crore in fresh funding from its Singapore-based parent entity, FK Myntra Holdings Pvt Ltd, according to regulatory filings reviewed by business intelligence platform Tofler. As part of the capital infusion, Myntra issued approximately 1.94 million shares, each with a face value of Rs 1 and a premium of Rs 5,465.23 per share. The development comes at a time when the company is scaling up its operations in India and overseas. Myntra recently forayed into the international market with the launch of Myntra Global, marking its first
Mint
28-05-2025
- Business
- Mint
Myntra secures over ₹1,062 crore funding from FK Myntra Holdings
New Delhi: Online commerce platform Myntra, part of Walmart-backed Flipkart Group, has raised ₹ 1,062.50 crore from parent FK Myntra Holdings Pvt Ltd (Singapore), according to financial data accessed by business intelligence platform Tofler. This investment involved the issuance of 1.94 million shares to the parent. Each share had a nominal amount of ₹ 1 with a significant premium of ₹ 5,465.23 per share. The move comes as Myntra has been expanding the scope of its business both in India and overseas. Earlier this month Myntra announced its entry into international shipping, starting with Singapore, to cater to the substantial Indian diaspora overseas with subsequent plans to expand in other markets. Myntra, started in 2007, has 70 million monthly active users and sells a range of international as well as homegrown apparel , beauty and home goods. In 2024 the company had received $81 million in funding from parent Flipkart, per news reports. Flipkart had acquired Myntra in 2014. Last year, the retailer piloted a quick delivery service in November and subsequently scaled up its 30-minute delivery in Bengaluru. More markets like Delhi now receive faster deliveries. Additonally, Myntra has been expanding its brand partnerships in the face of a greater competition at home. Myntra competes with Ajio, Meesho and Nykaa Fasion among others. Last year, Myntra announced a multi-year franchise partnership with NYSE-listed Abercrombie & Fitch Co. paving the way for the launch of Abercrombie & Fitch and Hollister stores in India. Facilitated through Myntra's business-to-business wholesale entity, this collaboration will see Myntra Jabong establish brick-and-mortar stores, regional e-commerce sites, and branded digital storefronts in India, leveraging a network of licensed and independent third-party operators. It has similar partnerships with Mango, Nautica, and British retailer Next. Last fiscal year, Myntra's revenue from operations grew 14.7% to ₹ 5,121.8 crore, per regulatory filings.
