Adgully Exclusive | Customer satisfaction has always been our focus: Myntra.com's Bansal

Myntra.com, an online retailer, which offers about 100 brands in apparel, accessories and footwear in the fashion and lifestyle category, is growing and expanding its range and warehousing facilities in India. It is among the top e-commerce companies in India and is scaling rapidly. Myntra's vision is to be the largest online retailer of fashion and lifestyle products. It is the first brand to pioneer into personalization of sports jerseys of cricket and soccer teams, such as IPL, Team India, EPL, and FIFA. The portal has largest and latest product catalogue, 24 X 7 customer support and favorable return policies; all this make Myntra the preferred online shopping portal across the country.

In an exclusive conversation with Adgully, Mukesh Bansal, CEO, Myntra.com shared some insights about his portal.

Telling about Myntra, Bansal said, "We are an online e-commerce portal, which deals in fashion lifestyle retailing. We initiated the business as personalization portal and had a catalog of products which could be customized such as T-shirts, mugs, jersey. We also have our sports lifestyle catalog for our consumers. We are associated with companies like with Nike, Reebok, Adidas etc and gradually we are developing the lifestyle fashion category. We are also focusing towards Youth wear, Sports-wear, Casual wear, footwear etc."

Adding further he said, "The journey till now has been amazing. We have been growing at a faster rate. We are among the top e-commerce companies in the world. E-commerce is taking a rapid toll. Earlier this field was static but now due to competition it is gearing up."

Speaking about the challenges that were faced by the company, Bansal opined that, "Challenges have always been evolving. Since we are fashion retailer company, it was really difficult to stand out in a different way. When we started this company, the e-commerce platform was not that sufficient and also another major challenge for a company like ours is to work without funds."

"Now we are a little comfortable as our business model is settled and the company is gearing up. We always wanted to be among the top list", he added.

The most visited age group on the portal is in the range of 21-25 years, usually young bachelors or students; the others are from 30-35 years who may be young working professional having a small family as well. With evolving mindset of Indian consumers, the company plans to expand its portfolio in an innovative manner, to meet new needs and demands of these consumers. "These days, people want to customize the name of their family members especially on mugs, t-shirts etc; so the company is trying its best to meet the needs of their customers", he added.

Highlighting some key strategies that Myntra follows, Bansal said, "Customer satisfaction has always been our strategy in terms of growth and marketing. We always want our customer to be happy and satisfied. Also, we want to reach out to large number of people; hence in terms of marketing strategies, we have brought out our television campaign which got a phenomenal response. We are advertising in print also."

Since this is a web portal and people are making most out of the social media platform, Myntra is also walking in that league."Yes we are very active on social media platform. We keep posting about our new collections on our Facebook page. We constantly engage with our followers and customers there", Bansal remarked.

Speaking about the benefits and the future of online shopping portal, Bansal believes that, "It is 24 X 7 shopping place, you find everything under one roof, no parking tensions, no shopping malls, no traffic, it is just about one click! If you see how e-commerce platform has taken toll over the past few years, we see that people, in a way are accepting this trend."

"Earlier people were a little skeptical about the concept of online shopping portals and choosing products online, but now days they are finding it as the best and convenient way. It is expected that in coming future everything will be 'online'", opined Bansal.

Myntra was started by a group of IIT / IIM graduates in 2007. Myntra is headquartered in Bangalore and has been funded by top tier Venture Capital funds like Tiger global, IndoUS, IDG & Accel Partners. | By Aanchal Kohli [aanchal(at)adgully.com]