Myntra Unpacks Its Global Dreams, Shiprocket's INR 2,500 Cr IPO & More

Myntra Unpacks Its Global Dreams

Marking its first international foray, the fashion ecommerce marketplace has launched its operations in Singapore. The move is aimed at capitalising on the growing number of Indian diaspora living in the island country.

Why Singapore? Myntra CEO Nandita Sinha believes that with a sizeable number of Indians and a “highly concentrated and relevant audience, Singapore could serve as a good jumping board to kickstart the company’s international expansion. With this, Myntra aims to convert 12% to 15% of the 6.5 Lakh Indians residing in Singapore into its customers.

Myntra’s Singapore Strategy: At the outset, Myntra will ship the products from India in partnership with a third-party provider. With over 100 Indian brands and around 35,000 products under its belt in Singapore currently, Myntra plans to expand the number of SKUs to 1 Lakh. It will initially offer Indian wear and will eventually expand to other categories based on demand.

Why Now? This Singapore foray comes at a time when Myntra is racing against time to tap into newer revenue streams as quick commerce platforms, emboldened by their success with groceries and essentials, look to move into the fashion segment.

Opportunities & Threats: What would work in favour of Myntra and help it bolster its revenue stream is its strong brand identity and parent Walmart’s deep presence globally. Notably, the fashion ecommerce platform clocked a consolidated net profit of INR 30.9 Cr in FY24 against an operating revenue of INR 5,121.8 Cr, up 14% YoY.

However, delivery time and costs may become a major headache for the platform, which expects the shipping time to exceed four to seven days. Similarly, prices of its products are expected to swell due to cross-border duties and logistics costs.

As parent Flipkart gears up for an IPO, .

From The Editor’s Desk

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: The Delhi High Court has set aside the 2021 arbitral award against OYO, stating it violated public policy as it was based on a non-binding term sheet. The award entitled Zostel to claim up to a 7% stake in OYO’s parent company.

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: The ride-hailing major Uber has partnered with the ONDC to offer a metro ticketing facility through its app. Starting from the Delhi metro, the company aims to expand this service to three more cities by 2025 end.

Inc42 Startup Spotlight Can AllMaster.ai Disrupt India’s Groupage Industry With AI?

In India, less than container load (LCL) shipping remains a logistical nightmare. Merchants, with smaller cargo volumes, struggle to get reasonable rates while freight forwarders face the challenge of optimising container space and cost distribution. That’s where AllMasters.ai steps in to streamline this process.

The Solution: Founded in 2023, AllMasters.ai’s primary game changer is its patented AI-powered smart price comparison tool for shipping. The tool offers the best prices to merchants for their exports and simplifies the LCL shipping for freighters with its digital-first approach.

The Next Leap: Going forward, AllMasters plans to introduce a range of new offerings, including air freight services, a solution for exporting cold chain LCL cargo, less than truck load (LTL) options and a consolidation service for hazardous cargo or dangerous goods.

Backed by industry expertise of the founders, and a $545 Bn market on the horizon, .

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