Myntra planning Offline Expansion, Jabong for Premium Brands
Tech News Today – In 2016 in the time of Jabong acquisition, Flipkart owned the Fashion Portal of India – Myntra. This is done for the reason of doubling their profitability by combining Myntra- Jabong. Now Myntra planning offline expansion for making the good bond with their customers.
While Myntra planning a big step expanding its Online business offline. In this big change in their business, it also plans, Jabong will be positioned as a premium.
Myntra Known as the India’s largest Online Fashion Store-
Planning Offline Expansion
The CEO of Myntra and Jabong Ananth Narayanan said “a bridge-to-luxury online destination with three new labels to be launched on the portal”.
“When we acquired Jabong in July 2016, the net promoter score (a metric which gauges customer satisfaction and ranges from -100 to 100) was in the teens to 20, they were degrowing at 16%. At present, the NPS at Jabong is at 46 and it is likely to grow by 30% this year,” Narayanan told ET.
Taking up the initiative of its plan Myntra shows a 3-minute video which is featured with the customer very first time.
Titled ‘MyntraUnforgettables With Novi’, the video tells about Novi,who is passionate about shopping and shop from the different platforms. how has she shopped for herself and her family and even purchased the first dress of her daughter from Myntra only. In the video, Novi talks about her experience as a homemaker and a fashion forward individual from Mizoram.
Myntra is not planning to close Jabong in the future. So they exactly planned to make Jobong a premium brand. “Jabong is perceived as a premium destination due to its long association with international brands,” said Narayanan.
These to fashion portals together gives the Flipkart good amount of profit. These two brands together grew the Flipkart dominance in the Fashion category, commanding 55-60% of the online fashion market share according to RedSeer Consulting.
Having integrated the logistics and technology back ends of the two portals, the goal is to take both the brands to profitability, said Narayanan.