Myntra Challenges Reliance-Owned Fynd With Its Latest Hyperlocal Play

Myntra Challenges Reliance-Owned Fynd With Its Latest Hyperlocal Play

SUMMARY

Myntra claims it has been working on this model before the pandemic

It aims to launch over 150 brands from more than 3000 high street and mall stores in six months

It estimates 20-30% sales for brand stores will come from this channel in the next 6-12 months

In an attempt to scale its business impacted by the Covid-19 pandemic, Walmart-owned fashion ecommerce platform Myntra has been experimenting with a hyperlocal model of fashion retail by partnering with several brands to facilitate the same day or next day delivery.

This model will allow Myntra to build an omnichannel network, enabling it to directly deliver orders placed online by sourcing the product from the nearest offline stores. The company has also run a pilot with several high street and mall stores including Arvind and Aditya Birla Fashion Retail, Fossil, Anita Dongre, Mango, Charles and Keith, Globus, Iconic and Red Tape. Each of these brands have anywhere between 20 to 200 stores each.

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