Myntra yet again proves that it is a fashion destination with a difference. The approach is simple, a customer-first approach and technology is at the heart of everything Myntra does. Myntra has been working towards bringing private brands under its umbrella for a while now, and these have now come to deliver about 23% of the total business at Myntra, and is growing rapidly. Myntra recently disclosed that the MFB performance is estimated to be at a double-digit EBITDA profitability in the next 18-24 months.
It was a day when another feather was added to Myntra’s cap. Ananth Narayanan, the CEO of Myntra and Jabong, was invited to speak during the Champions of Change Programme initiated by NITI Aayog. And the audience included the Prime Minister of the county, who was all ears. The Programme was put together by the Government of India to bring all the entrepreneurial thinking caps together in a room, and listen to and learn from their ideas on the growth and development of the country. This is seen as an excellent step towards institutionalizing the developmental sector in the country.
The Myntra and Jabong CEO spoke about “A New India by 2022”, covering not only technological and corporate solutions for Economic Growth, but also Skilled Workforce, Agricultural Transformation, Poverty Eradication, Social Capital and Gender Parity. The focus of his presentation was on “Inclusive and Innovative India”, so that the ideas could be applied to all of India, making it inclusive, and underlined the need for innovation, for making it happen.
The Programme was put together by the Government of India to bring all the entrepreneurial thinking caps together in a room, and listen to and learn from their ideas on the growth and development of the country. This is seen as an excellent step towards institutionalizing the developmental sector in the country.
The ideas presented to the Prime Minister by Ananth were not just technologically and economically informed, but also had progressive Developmental and Social components. The set of four ideas that were unfolded, raised the need to bring farmers, women, people with disabilities and transgender into the developmental mainstream. It comes as a very welcome move when a leader of young India, like Ananth Narayanan taken to a platform like this. He was expected to give technical solution and ideas to revamp the economy of the country. A one-dimensional approach to this would not have faced any criticism or felt lacking to anybody. But Ananth took a 360 degrees view on the matter of the countries development, specially the section that need it the most. He talked about the inclusion and democracy as way to go about the technological and economic development of the country.
This fresh approach is nothing short of being the beginning of a new phase in the business industry where like Fashion, everything comes together to make something beautiful. The mixing and matching of varied and different types of garments is what results in the perfectly balanced and show stopping outfit. We are very proud of our CEO.