Myntra.com ties up with Ibibo, HolidayIQ, and Chakpak and Many More
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Myntra.com was on of the companies that was presenting at Proto.in when we were in Chennai. Myntra is basically a company that allows consumers to create their own merchandise. Myntra.com is also a marketplace for designers where creative people can simply upload their designs and earn a royalty every time their design sells. In addition to that they have a few innovative contests with catchy names such as “Public ka Picasso”.
While many were impressed with Myntra’s business model a few questions were asked about the uniqueness of the model (there are many companies in the US and other countries such as CustomerInk and RivalArt who provide similar services) and how it will look to maintain leadership and continue revenue generation once International players and Indian “Me too” players enter the market.
I guess the answer lies with:
a) Positioning
b) Distribution
Positioning is a long term game. With respect to distribution, Myntra is working quickly. It has recently tied up with 10 partners through whom users can print custom merchandise. The partners include Ibibo, HolidayIQ, and Chakpak
While this move is laudable and will generate a lot of traffic for Myntra, i think they also need to carefully build a steady designer community in India. The other good thing about this move is that user generated designs go beyond ‘within Myntra’ and thus they are looking to build an eco system.
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