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<keyword id="450141" type="ORGANIZATION" weightage="20" keywordseo="Mynta">Mynta</keyword> is about to get into an agreement with <keyword id="64373" type="CITY" weightage="20" keywordseo="Shoppers-Stop">Shoppers Stop</keyword> so as to sell its owned private label brands in the India’s largest retail store chain. This will give Mynta’s owned private labels like Roadster and HRX a physical presence in stores. 
 According to a report, both the companies are in the last stage of the agreement and this agreement will also get Shoppers Stop, a chance to sell its own private labels on <keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword>. 
 Two Shoppers Stop’s ex-employs are now in Mynta and have been an important reason for the agreement. They include including Bindu Mendonca, former head of merchandising at Shoppers Stop and currently heading women's and kids fashion at Myntra, and <keyword id="1240851" type="UNKNOWN" weightage="20" keywordseo="Manohar-Kamath">Manohar Kamath</keyword>, former chief operating officer at Shoppers Stop. 
 Both Myntra and <keyword id="37701" type="PERSON" weightage="20" keywordseo="Shopper-Stop">Shopper Stop</keyword> have declined to comment on the proposed alliance. 
 
“Private labels are such a thing now; everybody is looking for more places where they can sell their products because volumes are an issue. One option is you increase your own sales and companies like Shoppers Stop has limitation on that because they have to open more stores,” Harminder Sahni, founder of retail consultancy Wazir Advisors told ET.

Myntra-owned private labels coming soon at Shoppers Stop stores

February 2016, <keyword id="705865" type="PERSON" weightage="100" keywordseo="Mukesh-Bansal">Mukesh Bansal</keyword> left <keyword id="319719" type="COMPANY" weightage="60" keywordseo="Myntra">Myntra</keyword> (and <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword>). His departure was touted as one of the most high-profile exits in the industry. 
 
A Computer Science graduate from IIT-Kanpur, Bansal founded Myntra in 2007. He sold his company to Flipkart in one of the largest M&amp;A deals in Indian e-commerce history. The deal was estimated to be worth around $330 million. 
 A week later, Myntra's Head of Finance <keyword id="3261177" type="UNKNOWN" weightage="100" keywordseo="Prabhakar-Sunder">Prabhakar Sunder</keyword> also put in his papers, marking another top level departure within India's most valuable startup. 
 5 months on, Prabhakar has joined as the finance head at e-commerce marketplace <keyword id="2253218" type="UNKNOWN" weightage="60" keywordseo="Voonik">Voonik</keyword>. Business Insider asked him why he left the company he and Mukesh toiled so hard to build from scratch. “It had become a ‘large’ company. I wanted to stay in a business-focused role. Didn’t see that happening (post the acquisition), so I left.” 
 
Post the acquisition, Myntra was supposed to continue to operate as a separate entity with its co-founder and CEO Mukesh Bansal joining Flipkart board and heading the fashion business. 
 
“I love taking risks. Myntra was one, and it paid off. As a company grows, the amount of risks one can take diminishes. You get worried about what investors might think. Myntra wasn’t an independent company anymore”, Sunder sighs. 
 
He explains how Myntra’s company culture changed post Flipkart’s acquisition. In his words, Myntra became more of a ‘corporate setup’ than a ‘startup setup’. “We’d need Flipkart‘s approvals. That really changed the company’s approach. Flipkart has ambitions of listing at some point. There’s a lot of groundwork being done for that. Myntra started getting into too many processes. We had to follow many rules, and I didn’t want to be tied down by too many rules”, Sunder smiles. 
 
Sunder had been a seven-year veteran at Myntra. He worked closely with Mukesh Bansal. Besides finance, Sunder also headed the commercial and legal functions at Flipkart with responsibilities including handling the strategic and corporate finance. The guy has over 9 years of experience with audit firms like PricewaterhouseCoopers and Deloitte. 
 Today, the company he has joined is pegged against the company he shaped. “There’s no dilemma. Voonik is not in direct competition with a Mynta or <keyword id="6388367" type="COMPANY" weightage="80" keywordseo="Jabong">Jabong</keyword>. Both are looking at premium retail. Voonik is into every-day fashion”, Sunder shrugs. While they may have parted ways, Sunder is all praises for Bansal. 
 
<a href="http://www.bloggingrepublic.com/wp-content/uploads/2016/02/maxresdefault-1.jpg">Image Source</a> 
“Mukesh is a mentor for life. He’ll raise the bar every single time. If you like to be appreciated for every little thing, you can’t work with him. Unless you reach an exceptional level, he won’t praise you. That helped me to keep improving as a professional over the 7 years I worked with him.”, Sunder tells me. 
 
The duo had their differences. “Disagreements with Mukesh were very often. He encourages discussion. Mukesh would like somebody to come say it on his face and discuss over the difference in opinion.” 
 
Myntra recently acquired Jabong. The company he nurtured is getting even bigger. Prabhakar has no regrets. He doesn’t hide his surprise though. “I didn’t see this coming. I wouldn’t have been a happy finance guy to have acquired Jabong any way”, he says. 
 
“There are several challenges. The e-commerce industry is getting into profitability mode. Everybody is now worried about their bottom-lines. There are immense tasks at hand. While all of this is happening, an acquisition of this size will add people issues. Jabong is also losing money, and that will add in. While you figure out your synergies, it might take a year or more. It’s not that easy to execute”, Sunder observes. 
 
<a href="http://flipkart-stories.azureedge.net/wp-content/uploads/2016/04/sachin_binny800x450.jpg">Image Source</a> Flipkart has seen a major overhaul with <keyword id="6364080" type="PERSON" weightage="60" keywordseo="Binny-Bansal">Binny Bansal</keyword> taking over as the new CEO in place of co-founder <keyword id="225032" type="PERSON" weightage="40" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>. Sunder doesn’t make much out of Myntra’s Jabong acquisition. 
 
“You should get a pat on the back only when you reap the benefits”, he says. 
 
My dad couldn’t agree more. 
 
<a href="http://blog.myntra.com/wp-content/uploads/2015/07/P_Kompalli.jpg">Image Source</a>

Exclusive:
Myntra’s ex-CFO Prabhakar Sunder on Mukesh Bansal and why he left the company
they shaped

MUMBAI: The combined entity of Flipkart and <keyword id="319719" type="COMPANY" weightage="80" keywordseo="Myntra">Myntra</keyword> will soon launch a fashion incubator, a first of its kind move by an Indian startup, in its aggressive push to gain complete dominance of the fast-growing online apparel category. In typical venture capital-style investing, the e-commerce combine will select fashion entrepreneurs, give them a platform to retail and after six months to a year pick up equity stakes for up to a million dollars in the best performing brands. 
 Startup incubators are widely run by large technology companies, to spot new ideas and talent, but this would be the first such attempt by an Indian <keyword id="2180871" type="POSITION" weightage="40" keywordseo="e-commerce-player">e-commerce player</keyword>. 
 
Flipkart-Mynta will look to select at least 3-5 such brands annually which can later be retailed on other platforms- online and offline-- said a top executive from the company. The first batch of the incubator is expected to roll out in July which will get on board as many as 20 such entrepreneurs. 
 “The idea is to create sizeable indigenous fashion brands by mentoring young entrepreneurs who do not have access to capital, supply chain and distribution platforms,” said <keyword id="705865" type="PERSON" weightage="60" keywordseo="Mukesh-Bansal">Mukesh Bansal</keyword>, CEO, Myntra &amp; SVP, Flipkart Fashion. We want these budding designers to operate as independent entities in the long-term selling to even our rival e-tailers, Bansal told TOI. 
 
Having merged Myntra with Flipkart last month in a Rs 2,000 crore deal, Bansal said with increased focus on private brands, the combined entity may also evaluate acquisitions going forward to shore up its fashion portfolio. 
 
Abhishek Verma, business head at Myntra said they've roped in mentors for the first batch of the incubator. We’ve got fashion designers, entrepreneurs and successful names from the business of apparel to be a part of the programme. 
 
Myntra’s own set of brands clocking sales of upwards of $10 million include the likes of Dressberry and Roadster. We have an ambitious plan of building multiple hundred million-dollar private brands in the coming years but it’s not feasible to have such a large in-house team therefore, this incubator makes a lot of sense as we scale up our portfolio, Bansal said. 
 The fashion e-commerce category is poised to become the second largest, only after electronics, pushing e-tailers to adopt a frenetic paced growth strategy for the vertical. <keyword id="18635" type="CITY" weightage="40" keywordseo="Amazon">Amazon</keyword>, the world’s largest online retailer, which is starting to get a toehold in the Indian e-commerce market recently forayed into the fashion and apparel category. 
 In the offline retail world, Future group’s founder <keyword id="44950" type="PERSON" weightage="40" keywordseo="Kishore-Biyani">Kishore Biyani</keyword> has been an early backer of several local fashion entrepreneurs who have gone on to create successful brands like AND and Biba. Biyani exited these companies last year only to make windfall gains from his early investments.

You Searched For "Mynta" and got 3 results

Myntra-owned private labels coming soon at Shoppers Stop stores

BI India Bureau

Exclusive: Myntra’s ex-CFO Prabhakar Sunder on Mukesh Bansal and why he left the company they shaped

Saikat Pyne

Myntra Set To Launch Fashion Incubator

Times Of India

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