New Delhi, Jan 22 (IANS): Flipkart-owned ecommerce platform Myntra that saw 80 per cent revenue fall in FY2018 has doubled down on last-mile delivery, tapping into over 9,000 kirana stores across 50 cities to fast deliver packages.
Today, nearly 60 per cent of all Myntra's product pick-ups and deliveries happen through its "Kirana Delivery Programme" -- helping the company reduce delivery costs, the company told IANS on Tuesday.
"Myntra's 'Kirana Delivery Programme' is a successful model introduced by the company to accelerate order delivery in the most efficient way possible, while ensuring we provide a good partnership opportunity to our kirana partners," a company spokesperson told IANS.
"We will continue to innovate, expand and hope to register more kirana partners in the future as well," the spokesperson added.
The "Kirana Delivery Programme" is an ingenious model introduced by the company to accelerate order delivery, while creating a platform for kirana stores to have an additional source of income.
"A mutually beneficial model, it has helped Myntra achieve greater consumer satisfaction and is enhancing the standard of living of the owners of several 'mom & pop' stores across the country," said the company.
Several tailors and beauty parlour owners, among others, have also signed up with Myntra for the programme.
The online fashion retailer narrowed its consolidated losses to Rs 178.7 crore for 2017-18, compared with a loss of Rs 655.8 crore in the previous fiscal.
According to business intelligence platform Tofler, the company saw its income growing nearly threefold to Rs 427.4 crore in 2017-18 as against Rs 155.6 crore in the previous financial year.
Ananth Narayanan, Chief Executive of e-tail portals Myntra and Jabong, stepped down from the post on January 14 "to pursue external opportunities".
The 11-year-old Flipkart Group, owned by US retail giant Walmart, includes e-tail sites Flipkart, Myntra, Jabong and digital payment platform PhonePe.
In May last year, Walmart bought a 77 per cent equity stake in the company for a whopping $16 billion.