When we talk about fashion and online-shopping, the first thing that comes to our mind is Myntra. Which started from selling personalized gift products to the largest fashion site in India. Along the journey Myntra acquired a lot of subsidiaries that helped in growing it's business.
Myntra- An overview
- Myntra is an Indian fashion e-commerce company headquartered at Bengaluru,India. The company was founded in 2007 to sell personalized gift items.
- Established by Mukesh Bansal along with Ashutosh Lawania and Vineet Saxena; Myntra sold on-demand personalized gift items.
- It mainly operated on the business-to-business model during its initial years between 2007 and 2010.
- In 2011, Myntra began selling fashion and lifestyle products and moved away from personalisation.
- But, by 2012 Myntra offering products from 350 Indian and International brands.
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The Business
Before discussing about it's subsidiaries we need to understand two basic things.
- What is a SUBSIDIARY and
- The Gradual business plan of Myntra.
List of Myntra's Subsidiaries
A subsidiary, subsidiary company or daughter company is a company that is owned or controlled by another company, which is called the Parent company, Parent, or Holding company.
The subsidiary can be a company, corporation, or limited liability company.
So basically speaking, when a particular company A owns/ acquires more than fifty per cent of voting stock of another company B, then in such circumstances company B becomes the subsidiary of Company A, and obtainins the control of its operations.
- In 2014 Myntra was acquired by Flipkart in a deal valued at ₹2,000 Cr.
- In 2014, Myntra included about 1,50,000 products of over 1000 brands, catering to over 9000 pin codes in India.
- In 2015, Ananth Narayanan became the Chief Executive Officer of Myntra.
- On 10 May 2015, Myntra announced that it would shut down its website, and serve customers exclusively through its mobile app beginning 15 May 2015.But it was failure.
- In February 2016, acknowledging the failure of the "app-only" model, Myntra announced that it would revive its website.
- In 2014 Myntra was acquired by Flipkart in a deal valued at ₹2,000 crore (US$280 million). ... Myntra functions and operates independently. Myntra continues to operate as a standalone brand under Flipkart ownership, focusing primarily on "fashion-conscious" consumers.
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The two main subsidiaries under Myntra are:
- Fitiquette (April 04, 2013)
- Roadster
| Company Name | Deal Date |
|---|---|
| Online Services Pvt. Ltd. | August 01, 2018 |
| Withdraw | April 16, 2018 |
| 20Dresses | November 29, 2017 |
| InLogg | April 19, 2017 |
| Jabong | July 26, 2016 |
| HRX | July 20, 2016 |
| Cubeit | July 12, 2016 |
| Fitiquette | April 04, 2013 |
| Exclusively | November 09, 2012 |
Myntra acquisitions
- April 2015, Myntra acquired Mobile app development company Native5, to strengthen and expand Myntra’s mobile technology team.
- July 2016, Acquired mobile-based content aggregation platform Cubeit, for strengthening its technology team.
- July, 2016 Myntra acquired their rival Jabong.com to become India’s largest fashion platform.
- October 2017, Myntra went partnership with Ministry of Textiles to promote handloom industry.
- April 2017, Acquired In Logg, a city-based technology platform that provides end-to-end logistics solutions for the e-commerce sector.
- April 2018, Myntra bought Bengaluru-based start-up Witworks, a maker of wearable devices to strengthen its technology team.
Major Investors are :
- Accel Partners,
- New Enterprise Associates,
- Tiger Global Management,
- Sofina, Kalaari Capital,
- IDG Ventures India,
- PremjiInvest
Fitiquette
It is based at Sans Francisco. Is Globally the first virtual dressing room platform enabling online shoppers to virtually ‘try before they buy’, providing an online shopping experience which is very similar to the offline model.
FITIQUETTE’s innovation generates a virtual mannequin based on various body types to which users can further adjust each specific measurement according to their body until it closely mirrors their own. What is unique about it is that the clothing we select is represented true to size based on a series of measurements. (Example. S, M, L, XL).
Thus enabling to offer a true-to-size, visual fitting experience. Fitiquette utilizes a patent-pending technology that gives users a 360-degree view of the fit and drape of a garment on their own customized models.
Roadster
Myntra Designs Pvt. Ltd, a wholly owned subsidiary of Flipkart owns the fashion brand Roadster. Roadster, which was launched in December 2012, constitutes close to 7% of the e-tailer's sales.
Vanni Lenci is Myntra's lead designer for the Roadster brand.
Roadster, Myntra's outdoor lifestyle brand, has launched an all-new licensed Roadster MotoGP collection, becoming the first Indian brand to enter into an exclusive collaboration with the world's premier motorcycling championship.Aug 18, 2016.
So it is not surprising that, inspite of having Deepika Padukone’s "All About you"
and Hrithik Roshan’s "HRX" brands in its pocket, Roadster is the biggest money maker for Myntra.
XS Brands Consultancy Private Limited
It is categorized under Company limited by Shares and Private offering Business Services as its principal business activity.
The company is headed by VISHWANATH SHIDRAMAPPA KOLHAR, PRAVEEN KUMAR SRIVASTAVA, AFSAR ZAIDI, KAMAL INDUR PUNWANI and PARUL GUPTA and it was incorporated on Dec 28, 2010.
Its legalized share capital is 10,00,000 and its paid-up capital is 4,16,670.
Pretr Online Services Private Limited
Pretr was launched in 2016 by Bhavik Jhaveri and Ankur Joshi, two technology executives. Pretr is currently operational in Mumbai.
Pretr Online Services Private Limited is a Private incorporated on 17 November 2015. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 1,000,000 and its paid up capital is Rs. 757,520. It is involved in Legal, accounting, book-keeping and Pretr Online Services Private Limited is a Private incorporated on 17 November 2015.
It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 1,000,000 and its paid up capital is Rs. 757,520. It is involved in Legal, accounting, book-keeping and auditing activities; tax consultancy; market research and public opinion polling; business and management consultancy activities; tax consultancy; market research and public opinion polling; business and management consultancy on 17 November 2015.
It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 1,000,000 and its paid up capital is Rs. 757,520. It is involved in Legal, accounting, book-keeping and auditing activities; tax consultancy; market research and public opinion polling; business and management consultancy.
Myntra will use Pretr’s technology, which includes order management and store analytics, on its platform and also offer it to its partner brands which include Esprit and Mango as well as its own private labels such as HRX and Moda Rapido.
Xerion Retail Private Limited
Overview: Xerion Retail Private Limited, also popularly known as Jabong, is an unlisted private company. It was incorporated on 23 September, 2011 and is located in Gurgaon, Haryana. It is classified as a private limited company.
Description: Xerion Retail Private Limited operates an online fashion and lifestyle store
Products & Services: clothing, bags, shoes, sunglasses, jewelry, watches
Grid Ant Technologies Private Limited
It is a Private incorporated on 06 August 2012. It is classified as Non-govt company and is registered at Registrar of Companies, Ahmedabad. Its authorized share capital is Rs. 200,000 and its paid up capital is Rs. 125,000. It is inolved in Software publishing, consultancy and supply [Software publishing includes production, supply and documentation of ready-made (non-customized) software, operating systems software, business & other applications software, computer games software for all platforms.
Consultancy includes providing the best solution in the form of custom software after analyzing the user?s needs and problems. Custom software also includes made-to-order software based on orders from specific users. Also, included are writing of software of any kind following directives of the users; software maintenance, web-page design].
Grid Ant Technologies Private Limited's Annual General Meeting (AGM) was last held on 28 September 2018 and as per records from Ministry of Corporate Affairs (MCA), its balance sheet was last filed on 31 March 2018.
Directors of Grid Ant Technologies Private Limited are Nithin Kumar Gadiparthi, Prathamesh Arvind Juvatkar, Sarthak Jain Ashok
Witworks Consumer Technologies Private Limited
Witworks Consumer Technologies Private Limited operates as a consumer technology company. The Company manufactures wearable products such as smart shoes, connected smart watches, and intelligent clothing with biosensors. Witworks Consumer Technologies serves customers in India.
Over the year Myntra has kept up ti its image and thrived. It has never compromised with it's quality and has kept a steady customer service. Its business well-maintained leading in the first click to online fashion.
Author: Meghashree Das
Source : https://startuptalky.com/myntra-subsidiaries-companies/
Date : 2020-08-25T13:00:46.000Z