Myntra was established by three IIT alumni Mukesh Bansal, Vineet Saxena and Ashutosh Lawania in February 2007. It has its headquarters in Bangalore and has three regional offices in New Delhi, Mumbai and Chennai. It began its operations in the B2B (business to business) segment with the personalization of gifts, which included mugs, caps and t-shirts.
In 2010, the company shifted its strategy from being a B2B to becoming a B2C (business to customer) oriented firm. Myntra.com is ranked among the top ten e-commerce firms in India. In the last 3 years, Myntra has become the most popular destination for personalized products in the country. Myntra is known for its innovative and out-of-the-box marketing. It involves being the first one to start online coupons, promotion coupons, and tying up with top fashion and lifestyle brands in India like Reebok, Puma, Nike Inc., etc. so as to offer a wide range of current seasonal merchandise. Undoubtedly it enjoyed the first-mover advantage in the e-tailing business.
Political: High government investment in National IT infrastructure leads to faster, better and more reliable Internet access for all users. It is the key to the e-commerce industry. Another aspect is 100 % FDI in retail. This will allow retailers like Wal-Mart to enter the Indian market. This could be considered a threat from substitutes.
Economic: With a rise in PPP, more people are getting Internet connections with the growing economy. This would imply more online buyers. Another factor is that the e-commerce industry thrives on giving promotional offers to attract customers. It might be beneficial only if there are economies of scale. Logistics cost is one of the vital factors which determines the profitability of the e-commerce industry.
Title – A project On Cloud Computing Strategy Design for Myntra.com>
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