E-commerce platform Myntra has doubled up on last-mile delivery, tapping over 9,000 kirana stores across 50 cities to deliver packages faster. The Flipkart-owned online firm saw 80 percent revenue fall in FY 2018.
Presently, Myntra delivers and picks up nearly 60 percent of its orders through its ‘Kirana Delivery Programme’, thereby helping the company reduce delivery costs.
Myntra has introduced this model to accelerate order delivery in the most efficient way possible, while ensuring to provide a good partnership opportunity to its kirana partners.
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. Several tailors and beauty parlour owners, among others, have also signed up with Myntra for the programme.
“We will continue to innovate, expand and hope to register more kirana partners in the future as well. 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.” – Myntra Spokesperson
Myntra 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.
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 percent equity stake in the company for a whopping US $ 16 billion.
