What is Brand Auditing?

A company uses a brand audit to evaluate how its brands or products

are positioned in its markets. Performing a brand audit allows you to
take a step back and look at the overall picture, which can inform a
longer-term strategy. The audit reviews data to identify areas where
your company can improve its brand's positioning and overall
performance.

What is Brand Tracking?

Brand tracking is the ongoing measurement of your brand-building
efforts against key metrics, such as brand awareness and perception.
Trackers help brand owners to understand brand health and make
informed decisions to increase sales, deliver greater return on
marketing investment, and win market share.

ABOUT MYNTRA
Myntra was founded by Mukesh Bansal, Ashutosh Lawania,
Vineet Saxena back in 2007. Myntra witnessed quite a successful
run before it was acquired by Flipkart in May 2014 for Rs 2000 crore,
cash and stock deal to help the latter tap into the fashion space.
Today, we can sit in one space and browse through the top
international fashion brands and get our favourite products delivered
right to our doorsteps. Thanks to the evolution of eCommerce and
online shopping trends. One of the most prominent names in the
eCommerce industry of India, as we all know, is Myntra.

The parent organization of Myntra is Flipkart. It is an Indian online

shopping website that brings premium brands under its umbrella and
provides its consumers with the most effortless shopping experience.

Total Funding $399.8 mn (2021)

Revenue $333.38 mn (Rs 2466 crore in FY21)
Valuation $1.2 bn (November 2021)
Website myntra.com
CEO Amar Nagaram

The founders of Myntra were Mukesh Bansal, Vineet Saxena, and

Ashutosh Lawania. In 2007, Myntra was launched as something
different from what it is today. The focus of Myntra was to sell
personalized gifts. Back then, it was a B2B business model. But in
2010, Myntra made a shift from personalizing gifts to online retailing
of branded apparel.

Myntra made tie-ups with various famous brands and retailed the
latest merchandise of these brands. Soon it Myntra started selling
international and high-end brands and also entered the lifestyle
section.

Today Myntra is selling over 500 Indian and international

brands, from Nike, Adidas, Biba, Dressberry, Mango, Only, and
so much more. Delivering across 9000 pin codes, Myntra is the
most favorite online shopping platform and is loved by fashionistas.
Myntra - Startup Story

Mukesh Bansal, one of the founders of Myntra served as a Product

manager in 4 different startups and had already developed a good
understanding of how the market works when he decided to launch
his own venture with the help of the other co-founders, who had a
background in software engineering. Myntra was the result of their
combined entrepreneurial dreams.

Myntra initially started selling on-demand personalized gift

items and focused to serve the B2B model during its initial years.
Myntra established its website, which offered its customers a range of
personalized products like T-shirts, mugs, mousepads, and others
between 2007 and 2010.

the company gradually started cementing its position in fashion and

lifestyle and expanded from selling only personalized products to
businesses to serving other individuals.

By 2012, the story of Myntra took a turn as it began offering products

from 360 Indian and International brands. Furthermore, the transition
from being a B2B brand to emerging as India's largest B2C fashion
eCommerce marketplace is a matchless feat indeed!

Myntra was a growing revolution in the Indian fashion industry,

which is why in 2014, Myntra was acquired by the online e-
commerce giant Flipkart in a deal valued at ₹2,000 crores
(US$280 million). The takeover was influenced by Tiger Global and
Accel Partners.

Despite this deal, Myntra continues to operate as an autonomous

entity under Flipkart’s ownership and focuses primarily on "fashion-
conscious" consumers. In the same year, this Indian online shopping
website included about 1,50,000 products of over 1000 brands with a
distribution area of around 9000 pin codes in India.
On 10th May 2015, Myntra came up with a surprise and announced
the shutdown of its website. Further added that it would serve the
customer mainly through mobile applications beginning 15th May.
However, the "app-only" model witnessed a decline in its
sales. Myntra supported its decision by stating that 95% of traffic on
its website came via mobile devices and that 70% of its purchases
were performed on smartphones. However, seeing the negative
impact of the app-only model, Myntra decided to revive its website
again.

Myntra - Mission and Vision

"a hassle free and enjoyable shopping experience to shoppers

across the country with the widest range of brands and products
on its portal."
Myntra - Logo

Myntra - Business & Revenue Model

Myntra operates on an aggregator business model (B2C) of

premium brands. Myntra earlier operated on a B2B business
model prior to switching its business model to B2C. The business
model of Myntra is primarily based on procuring current season
merchandise from all its associate brands and making them available
on its eCommerce portal as soon as they are available in the
respective retail brand outlets.

The major source of revenue for Myntra is commission. It generates

income from a fixed commission of 4% - 5% which it charges
depending on the category and the brand of the product.

Myntra - Funding & Investors

Myntra has raised over $399.8M in funding over 13 rounds. The

latest funding was raised on September 24, 2021, led by its parent
organization, Flipkart.

The fresh infusion came at a crucial juncture when the fashion giant
was looking forward to starting the Big Fashion Sale from October
7th onwards, which continued till October 13, 2021.

Date Stage Amount Investors

September 24, Funding ₹4.9
FK Myntra Holdings
2021 Round Billion
October 9, Funding $103
FK Myntra Holdings
2020 Round Million
March 6, Funding $63.7
FK Myntra Holdings
2018 Round Million
October 18, Debt ₹500
Kotak Mahindra Bank
2017 Financing Million
January 31, Venture $50
-
2014 Round Million
Venture $25
May 31, 2013 -
Round Million
February 1,
Series E $8 Million -
2013
 Date Stage Amount Investors
$25
May 1, 2012 Series D -
Million
August 1, $20.8
Series C -
2011 Million
March 4, $14
Series B Tiger Global Management
2011 Million
$11
July 1, 2010 Series B -
Million
November NEA-Indo-US Ventures, IDG
Series A $5 Million
2008 Ventures and Accel Partners
Seed Accel Partners, Sasha
October 2007 -
Funding Mirchandani and others

Myntra investor, Jabong India Private Limited has decided to allot

7,08,025 equity shares to its Singapore-based parent company, FK
Myntra Holdings for Rs 455 crores, as per the regulatory filings of the
company. Furthermore, it has also allotted 58,195 equity shares to
Quickroutes International Private Limited for Rs 37.40 crores, which
has taken the total infusion to Rs 492 crores.

Myntra - Growth and Revenue

Myntra has become India's fashion expert that serves millions of

customers, with 2000+ world's top fashion brands on the platform.
They sell more than 200,000 items on the app on any given day and
have achieved approximately $500M Gross Merchandise Volume
in FY 2015 - 2016. The company has recorded a Gross Merchandise
Volume (GMV) of $800 million in January 2016, which is just a
notch below its target $1 billion mark by FY16.

If we consider the footwear category only, we would have a wide

array of varieties like shoes for running, tennis, football, basketball,
and fitness, along with casual footwear from world-renowned industry
leaders like Nike, Puma, Converse, Adidas, Decathlon, Reebok, Lee
Cooper, Numero Uno, Skechers, Crocks, Asics, Fila, Lotto, ID and
many more. The other fashion brands of Myntra are casual and
include dressy footwear for women are Catwalk, Carlton London,
Steve Madden, and RedTape.

Mergers

 Myntra, a Flipkart Group company had acquired Jabong in July

2016 for $70 million in cash.
 In April 2015, Native5, a Bengaluru-based mobile app
development company was acquired by Myntra. The goal of this
acquisition was to strengthen and expand Myntra’s mobile
technology team.
 In July 2016, Myntra business acquired a mobile-based content
aggregation platform named Cubeit, to strengthen and expand
its technology team.
 In April 2017, Myntra company acquired InLogg. This was a
city-based technology platform that provides end-to-end
logistical solutions for the smooth functioning of e-commerce
businesses.
 In April 2018, Myntra India bought a Bengaluru-based startup
named Witworks, a maker of wearable devices.
 In August 2018, Myntra acquired Mumbai-based startup Pretr
Online Services Pvt. Ltd., an end-to-end omnichannel platform
for retail.

Acquistions

The company has seen 10 major acquisitions to date.

Acquired Date Price

Pretr Online Services Pvt Ltd August 1, 2018 -
Blink (formerly Witworks) April 16, 2018 -
20Dresses November 29, 2017-
InLogg April 19, 2017 -
 Acquired Date Price

Jabong.com July 26, 2016 $70 mn

HRX July 20, 2016 -
Cubeit July 12, 2016 -
Native5 May 7, 2015 -
Fitiquette April 4, 2013 -
Exclusively November 9, 2012 -

Startup Challenges

Logistics was a big challenge for Myntra in order to meet the

customer's demands. Needless to say, it is also one of the important
aspects of an e-commerce company. Myntra’s success is duly
credited to its hybrid logistics model. To solve their problem
of logistics and supply chain in the initial years, they devised this
solution and distributed the logistics between themselves and third-
party service providers solely on demographics.

This again posed a major challenge for Myntra because finding

reliable third-party service providers who could provide a world-class
delivery experience to the firm and the consumers is quite a job. To
counter this, Myntra took utmost care of its supply chain
management, and hired delivery agents with high and deep quality
delivery experience.

Myntra, as a venture and as a team has always believed that the

greatest contributions happen when the larger picture is kept in mind.
Also, what the brand stands for and how it is conveyed to society
through the time of making short-term progress plays a very
important role.
Recognitions

Myntra has bagged quite a few titles under its name.

 Myntra was acknowledged as India’s Most Admired &

Valuable Power Brand Award 2016 at the 7th Annual India
Leadership Conclave & Indian Affairs Business Leadership
Awards 2016.
 Myntra.com was announced as a winner of the Red Herring
Global 100 award.
 CNBC - TV18 recognized Myntra's website as one of
the Hottest Internet Companies of the Year.
 It has also been awarded 'Fashion eRetailer of the Year
2013' by Franchise India's eRetail Awards.
 Myntra online app and website also bagged the title of 'Best E-
commerce Website for 2012' by IAMAI – India Digital
Awards.
 The venture was also awarded 'Images Most Admired Retailer
of the Year: Non–Store Retail' for 2012 by Images Group.
 Puma India awarded Myntra with the 'Best E-commerce
Partner of the year 2011-12'.