Mukesh Bansal | Myntra Founder|Success Story of Myntra-getinstartup

Greetings to all! We all love shopping online, whether it’s for daily needs, occasional days, or as a stress buster for some people, we can’t deny that online shopping is our helping hand in all our urgent wishes. In this quarantine time where we can’t go and shop, online shopping provides us the benefit of shopping online and delivering the products at our doorsteps. As the trend in fashion e-commerce always been fluctuating day by day, but it was Myntra which the fashion e-commerce in the country. Myntra! Ever visited Myntra for shopping? No, well, you should give it a shot. As we all are chit-chatting about the growing love of online fashion stories, let’s have a look at the success story of Myntra and also about the Myntra Founder which is none other than Mukesh Bansal.

Let’s Appreciate Mukesh Bansal

Mukesh Bansal is an Indian businessman who is known for founding the Indian fashion e-commerce company Myntra. He has also been shortlisted under the Best 40 Entrepreneurs by Fortune magazine. Currently, Mukesh Bansal serves as the CEO of cure.fit.

The Success Story of Myntra

Establishment of Myntra

Mukesh Bansal started as a product manager for four different startups. He started to gain experience in how the market works. So, he decided to establish his own e-commerce company. A man with a software background, along with Vineet Saxena and Ashutosh Lawania launched a hub for online shopping named Myntra in 2007.

Mukesh Bansal | Myntra Founder|Success Story of Myntra-1-getinstartup

Well, software and business are not a rare combination to come across, yet there was a unique idea that brought Myntra an immense success. Myntra comes out to be the first B2B online fashion store in the country. In few years, Myntra was recognized as the biggest fashion e-commerce platform in India.

Rise of Myntra

The steps taken by Myntra showed a rigid establishment of Myntra in the online fashion community. With more than 360 brands, Myntra was the first corporation to get its hands on international brands on a large scale.

In the year 2011, Myntra started to sell the brands like Being Human and Fastrack. It was growing day by day, the company was able to involve more than 1 lakh products from various brands in its portfolio. By the end of 2015, Myntra was able to collaborate with more than 1000 brands as working partners.

In the following year, Myntra founder launched its mobile application in the market and started to expands its business around the globe. Everything was going great for Myntra until the entry of Jabong.com in the market in 2016. But still, the cooperation was on top as the biggest fashion e-commerce company in the market.

In 2017, Myntra started to expand its business by collaborating with the Ministry of Textiles to promote the handloom industry of India.

More from Myntra

Myntra started to gain popularity and was considered to be an equal competitor with Flipkart and Amazon. It started to get success from day one and also changed its business model from B2B to B2C, which expanded its operation to its peak. The approach of the hybrid logistic model helped Myntra to achieve immense success in the past few years.

Improving their business model, having a clear thought regarding business and very well knitted strategies helped Myntra to be recognized as an icon in the fashion e-commerce industry.

Closure

After the acquisition of Myntra with Flipkart, Myntra Founder – Mukesh Bansal joined Flipkart as the head of the Commerce and Advertising Business. Under his guidance, Flipkart was able to achieve $5 billion as annual revenue.

From the beginning to the rise of Myntra, the journey was really inspiring and fascinating. Becoming an icon in the industry really motivates us to achieve our dreams too.

Well, that was all about the Success Story of Myntra. I guess we covered all the valid points. If no, then do let me know in the feedback section.

Happy Shopping:)

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