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Myntra End of Reason Sale Starts From 3rd to 5th January

Myntra End of Reason Sale

There is no excellent way to begin the New Year than the shopping. Flipkart-owned fashion retailer, Myntra announced its latest sale offer. The company introduced End of Reason Sale which held from 3rd January to 5th January 2017.

Users who are eagerly waiting for the sales in this New Year can visit the Myntra website and know all the discounted prices on provided products. This followed by the Amazon India’s End of Season Sale scheduled from 28th December to 30th December 2016.

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Currently for this End of Reason Sale, the company offering 50 to 80% discounts under the promotional scheme. Myntra also announced about the additional 10 percent cash back on purchases made through Citi Credit or debit cards.

Other e-commerce fashion retailer, Jabong is also offering huge discounts on lifestyle products. Both the fashion websites, Jabong and Myntra owned by the Flipkart. Myntra’s growth fell to 60 percent post demonetisation and is expected to pick up over few months.

“It would be the largest fashion sale post demonetisation. We expect to register twice the sales of our last EORS event held in July 2016,” said Ananth Narayanan, CEO of Myntra.

The company was also expecting that its sales will increase during its End of Reason Sale. This event also helps Myntra to recover from the impact of demonetisation which faces the loss of 50 percent.

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As per the reports, about 1,500 brands are part of this End of Reason Sale. It’s shopping, ladies! Grab the products with rock bottom prices and with great discounts. It’s time to take out your shopping wish-list and mark everything you wanted.

The E-commerce company had tweeted about the sale using the official twitter handle with a tag #MyntraEndOfReasonSale

Myntra Offends Itself from Spoofing Draupadi in the Ad

Myntra Ad Draupadi

A picture on social networking site made a way to a controversy as it apparently expressed retailer Myntra making gentle of disrobing of Draupadi. The picture shows Lord Krishna is placing an order of extra length sarees on Myntra.

In the middle, the brand Myntra took note and the most efficient to disclaim its connection with the Advertisement. However, the picture left the people a jaw drop. Initially, the ad created back in February and all of sudden the ad appeared again online this Thursday.

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Myntra Ad Draupadi

This spoofing of Draupadi’s disrobing in the epic Mahabharata was gone viral on Krishnashtami day. The act claimed that might be a work of a digital marketing agency. However, the company confirmed that Myntra doesn’t take any of the blame behind this ad.

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“It wasn’t us. This creative was done and posted by a third party ScrollDroll, ( #BoycottMyntra ) without our knowledge or approval. They have already pulled down the illustration and apologized publicly for the same. Myntra does not endorse it. We will be pursuing legal action against them for using our brand” said Myntra.

Sources say Scroll droll, a Delhi-based Digital marketing agency and artwork for Myntra had done without authorization is responsible for the act.

Flipkart Acquired Jabong, India’s Fashion and Lifestyle E-Portal

Flipkart acquires Jabong

Leading E-commerce giant, Flipkart acquires online fashion portal Jabong with its unit Myntra from Global Fashion Group, with the main focus on becoming India’s biggest fashion shopping stop.Flipkart acquires Jabong to strengthen their base in the field of E-Business.

Jabong.com is one of the top Indian fashion and lifestyle e-commerce portals, which sells footwear, beauty products, fashion accessories, fragrances, home accessories and other products. Global Fashion Group has been looking forward to the buyers more than a year. Most of the firms viz., Aditya Birla Group, Future Group, Snapdeal and Amazon, come forward as potential buyers, but Myntra lead on this acquisition.

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In 2014, Flipkart acquired Myntra in an estimated ₹20 billion deal. Currently, Flipkart’s Myntra acquires Jabong portal. Sachin Bansal, Co-founder and Executive Chairman tweeted about Jabong on 25th July 2016.

“Fashion and lifestyle are one of the biggest drivers of e-commerce growth in India. We have always believed in the fashion and lifestyle segment and Myntra’s high performance has reinforced this faith”. CEO and Co-Founder of Flipkart Binny Bansal said in a emailed statement.

There is no news about the financial terms yet. Nevertheless the previous report, the price far less than what Jabong expected. The report suggested that Jabong site was sold out for less than $50 million.

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According to the Myntra CEO, Ananth Narayanan, “Jabong has built a strong brand that is synonymous with fashion, a loyal customer base and a unique selection of global exclusive brands. The acquisition of Jabong is a natural step in our journey to be India’s largest fashion platform. We see significant synergies between the two companies especially on brand relationships and consumer experience. We look forward to working with the talented Jabong team to shape the future of fashion and lifestyle e-commerce in India.”

At late May, Jabong Reported a 14% increase in Revenue to €32.6 million for the March quarter. The Gurgaon-based firm’s adjusted Ebitda loss narrowed to €11.9 million from €16.3 million in the same quarter a year earlier.”

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