FASHION E-RETAILING PLATFORM Myntra ended FY24 in style by posting a profit of ₹31 crore and swinging into the black from a staggering loss of ₹782 crore in the previous year. With the launch of M-Now, a quick-commerce service that promises delivery in 30 minutes to two hours, the fashion e-tailer is cashing in on a new trend.
M-Now is probably more a need than a choice. The fact is q-comm players are widening their assortments to include not just innerwear and athleisure but also top and bottom wear and kidswear. In fact, Blinkit, Zepto and Instamart are offering ethnic wear in alliance with AbIndia and Manyavar. That puts the fashion e-tailers in a bit of a spot.
But Myntra is in a good place. As Kruthya Madappa, Partner, 3One4 Capital observes, scaling D2C and international brands on the platform has helped it gain market share in the last 12-18 months. Their contribution has grown from low single-digit percentages in H1 of 2022 to about 10-15% in 2024.
"Myntra Beauty, in particular, has reported about a 3x growth," Madappa points out. That would help in the q-commerce space too.
In general, as Anand Ramanathan, partner consumer products and retail sector leader, Deloitte, says q-commerce is becoming crucial for fashion retailers as consumer expectations are evolving as are market dynamics. "Modern shoppers demand fast and convenient shopping experiences," he observes.
Denne historien er fra December 16, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 16, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
IIT-Madras to offer fine arts, culture courses
IN A FIRST for Indian Institutes of Technology (IITs), IIT-Madras on Tuesday said it would offer two supernumerary seats in each undergraduate programme to students who have achieved excellence in fine arts and culture, starting from the upcoming academic session.
The world's busiest airline routes in 2024 are largely in Asia
Leisure continues to outshine corporate trips
Panel suggests LS elections template for entrance tests
DRAWING PARALLELS WITH the conduct of general elections, a high-level committee—set up by the Education ministry and chaired by former ISRO chief K Radhakrishnan—has proposed a similar framework for holding important national entrance tests to ensure transparency.
DPIIT inks pact with HDFC Bank
THE DEPARTMENT FOR Promotion of Industry and Internal Trade (DPIIT) on Tuesday said it has inked pacts with HDFC Bank and Tally Solutions to help startups grow.
Siddique murder: Court sends accused to police custody till Dec 20
A SPECIAL COURT in Mumbai on Tuesday remanded five accused arrested in NCP leader Baba Siddique's murder case to police custody till December 20 after investigators said they need to interrogate them about an absconding accused and the weapons used in the crime.
PM: Cong fanned water disputes among states
FIRST ANNIVERSARY OF BJP GOVT IN RAJASTHAN
SME IPOs fetch rich returns in Dec
THE SME IPO market continues to see heightened interest and is delivering multibagger returns despite being under the lens of the markets regulator.
KYC masking to go live on Jan 20
IN A MOVE that provides relief to financial institutions, the Central KYC Records Registry has extended the deadline for masking Know Your Customer (KYC) documents to January 20 next year.
Trudeau govt adrift after FM quits, Trump tariffs loom
The abrupt resignation of Canada's finance minister leaves the government adrift less than a month before the inauguration of a new US administration that could impose crippling sanctions on Canadian exports.
Broadcom's 'Nvidia moment' has arrived. Now it needs to deliver
Broadcom's massive rally after last week's earnings report is reminiscent of when Nvidia Corp. shares first started to take off back in 2023.
