Flipkart-owned e-commerce Stage Myntra that saw 80 per cent revenue fall in FY2018 has doubled down on last-mile delivery, tapping over 9,000 kirana stores across 50 cities to Quickly deliver Bundles.
Now, almost 60 percent of Myntra’s product pick-ups and deliveries happen by its”Kirana Delivery Programme” – helping the organization reduce delivery costs, the business told IANS on Tuesday.
“Myntra’s’Kirana Delivery Programme’ is a thriving model introduced by the enterprise to accelerate order delivery at the most efficient way possible, while ensuring we provide a fantastic partnership chance to our kirana partners,” a company spokesperson told IANS.
“We will continue to innovate, expand and aspire to register more kirana partners later on as well,” the spokesperson added.
The”Kirana Delivery Programme” is an ingenious model introduced by the enterprise to accelerate purchase delivery, while developing a platform for kirana stores to have an extra source of income.
“A mutually beneficial version, it’s helped Myntra achieve greater consumer satisfaction and is enhancing the standard of living of the owners of many’mom & pop’ shops across the nation,” said the business.
A number of and beauty parlour owners, amongst others, also have signed up with Myntra for its programme.
The internet fashion retailer narrowed its combined losses to Rs. 178.7 crore for 2017-18, in comparison to a reduction of Rs 655.8 crore in the last fiscal.
In accordance with company intelligence platform Tofler, the business saw its income growing almost threefold to Rs. 427.4 crore in 2017-18 according to Rs. 155.6 crore in the last year.
Ananth Narayanan, Chief Executive of e-tail portals Myntra and Jabong, resigned from the post on January 14″to pursue external chances”.
The 11-year-old Flipkart Group, owned by US retail giant Walmart, comprises e-tail sites Flipkart, Myntra, Jabong and electronic payment platform PhonePe.
In May last year, Walmart bought a 77 per cent equity stake in the business for a whopping $16 billion.