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Online fashion marketplace <keyword id="319719" type="COMPANY" weightage="100" keywordseo="Myntra">Myntra</keyword>, which was acquired by Flipkart in May 2014, is expanding business, and would now deal in home furnishing, precious and non-precious jewellery and personal care segments. The move has come with the motive of expanding the consumer base and increasing profits. 
 
Until now, Myntra was restricted to apparel and accessories; however, with this step, it would be in direct competition with Urban Ladder, Pepperfry, Nykaa and Bluestone. 
 "This is a big bet for us to take our first step to expansion in the lifestyle segment, which will also help us meet our set target of attaining profitability by 2017," Ananth Narayanan, <keyword id="2185949" type="UNKNOWN" weightage="100" keywordseo="Myntra-CEO">Myntra CEO</keyword> told ET. He added that in the coming two years, the home furnishing segment us expected to generate revenues of Rs 500 crore. 
 
For the home furnishing segment that would be launched soon, the company has entered into tie-ups with 40 brands. However, the personal care products space and jewellery segments wll be launched by July this year. To ensure that customers choose quality products, Myntra is hiring architects and interior designers. 
 
<a href="http://itmedia.in/wp-content/uploads/2015/07/anant-narayanan.jpg">Image source</a>

Myntra all set to start selling furniture, jewellery and personal care products

<ul><li>At <keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword>, which had already held a big sale event after lockdown – End of Reason Sale in June, there were many learnings to note.</li><li><keyword id="3790335" type="PERSON" weightage="20" keywordseo="amar-nagaram">Amar Nagaram</keyword>, the CEO of Myntra, tells Business Insider about how the change in Indian consumers’ preferences after the lockdown.</li><li>Myntra’s Big Fashion Festival will be a 7-day long event (October 16–22). </li></ul>The pandemic and lockdown period has brought many learnings for all businesses, and e-commerce has undoubtedly been one of the sectors with the biggest takeaways. And at Myntra, which joins the leagues of Amazon, Flipkart this time around to hold a <keyword id="3741625" type="PERSON" weightage="20" keywordseo="festive-sale">festive sale</keyword> right before Diwali and Dussehra, the learnings have shaped the way they designed their next big sale event. Myntra, which had already held a big sale event after lockdown – End of Reason Sale in June, saw the consumers’ consumption patterns change in India. “In the last four-five months and us coming out of a complete lockdown, what we have learnt is that the core nature of fashion buying has changed in the country,” Amar Nagaram, CEO, Myntra told Business Insider. And Nagaram expects their sale volumes to be higher than the June sale. From Tier 2, 3 shopping habits to athleisure ranking high in demand – Here’s what changed Nagaram points out that more and more Tier 2,3 shoppers have come on board – and from there, it's those shoppers who always used to prefer shopping offline. These are the people whose spending capability could be the same as their counterparts in Tier 1 cities, but they depended only on travel, brands and offline retail for their shopping list. “What we have been doing in the last four months is ensuring that we don’t give them a reason to not come back,” he said. The categories working well are athleisure and casual wear, kidswear, beauty and wellness – across geographies. “In fact, during Rakshabandhan and Ganesh Chaturthi, for the first time in all these months we saw interest coming back for premium products. All of this put together is how we are shaping up for the festive sale,” said Nagaram. Myntra’s upcoming Big Fashion Festival will be a 7-day long event (October 16–22), Nagaram says they have put together 9 lakh styles, increased the total number of brands to 5,000, a big jump from 2,000 brands last year. “The categories we expect will do well during this sale are casual wear, winter wear, beauty and wellness and home furnishings and decor, because people finally got time to do their homes,” he said. Marketing for the masses Nagaram expects 50% of its orders to come from Tier 2 and 3 markets alone. And while Nagaram said that their marketing spend remains according to the plan pre-COVID-19, the way they spend their money has changed. There’s no more one national ad campaign but several regional ad campaigns targeted at the regional user. They brought on board brand ambassadors like Kiara Advani, Youtuber Bhuvan Bam and South actress Samantha Ruth Prabhu to reach out to the masses and have a wider brand appeal. Like every other company, Myntra too hopped on the IPL sponsorship bandwagon. Myntra’s logo is seen on the team jerseys of Royal Challengers Bangalore, Mumbai Indians and Chennai Super Kings. “IPL was the biggest event happening after lockdown and it was an opportunity we couldn’t miss as obviously the reach would be great,” he said. The competition will also be higher Almost every big sale event in the country – from Amazon, Flipkart to Myntra – has the same dates, and that means the consumer will get more choice, and the competition will be higher for all e-commerce platforms. It’s not just the online space; malls and offline retail stores that have taken a major hit during the lockdown will also look at attracting users back into their space. But Nagaram rests assured as “People are still scared of stepping out over concerns for safety and hygiene. What we are doing online is we have given consumers the selection at a sharp pricing and the experience that they might not find anywhere else. Consumers now have access to brands that they didn’t think was possible unless they travel to a different city,” he said. However, he also believes that it's no more about online vs offline anymore and the world today belongs to omnichannel retail. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-dips-after-earnings-report-analysts-believe-it-will-take-a-while-to-catch-up-to-tcs-and-hcl-technologies/articleshow/78654023.cms">Wipro’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies</a> <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-and-flipkart-invest-in-ninjacart-again-to-bump-up-its-grocery-offerings-ahead-of-the-festive-season/articleshow/78617012.cms">Walmart and Flipkart invest in Ninjacart again to bump up its grocery offerings ahead of the festive season</a>

Myntra CEO explains how fashion buying has changed in India and the e-retailer’s focus on Bharat users this festive season

In next three months, you will see <a href="http://www.businessinsider.in/searchresult.cms?query=myntra&amp;sortorder=effectivedate">Myntra’s</a> first store as the online fashion retailer is executing its omni-channel strategy. 
 <keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword>, which has kept a target of $1 billion in sales and profitability next year, has already come back to desktop and is also available as an app. 
 
"We are exploring omni-channel. We should be able to create a physical store in the next three months. We plan to launch omni-channel with our private brands - Roadster, HRX and All About You," CEO Ananth Narayanan told ET. 
 
Myntra’s is planning to open its first store either in Bengaluru or New Delhi and is expecting huge turnout in new segments, including <a href="http://www.businessinsider.in/searchresult.cms?query=home+furnishing&amp;sortorder=effectivedate">home furnishing</a>. 
 
"In just three months, home furnishing is about 1 per cent of the revenue and it's growing at 50-60 per cent month-over-month. We are looking at getting about 5 per cent of our revenue from home furnishing," Narayanan told ET. 
 
Myntra is working on re-launching a personal care business and expanding its sales of fine jewellery. 
 
READ ALSO: <a href="http://www.businessinsider.in/Myntra-all-set-to-start-selling-furniture-jewellery-and-personal-care-products/articleshow/51939546.cms">Myntra all set to start selling furniture, jewellery and personal care products</a> 
 
"With fine jewellery, there is a question of security, expanding the number of pincodes we can service and ensuring that the gold jewellery being returned after 10 days is the same. These will need technology solutions," Narayanan said. 
 
Myntra has also strategized selling perfumes, which are sample based. It is exploring attaching samples to packages it delivers. 
 
"We had already moved to planning for profitability and reducing discounts. I would not want to talk about Vector and those issues because that is something that it is still being discussed at the board level," Narayanan said.

Wait for three months and you will also have Myntra’s store either in Bengaluru or New Delhi

Bengaluru-based <keyword id="2778113" type="UNKNOWN" weightage="20" keywordseo="Rentomojo">Rentomojo</keyword>, a furnishing rental platform, has raised $2 million in Pre Series A from <keyword id="144381" type="COMPANY" weightage="20" keywordseo="Accel-Partners">Accel Partners</keyword> and <keyword id="145350" type="CITY" weightage="20" keywordseo="IDG-Ventures">IDG Ventures</keyword>. 
 
Founded in 2014 by IIT Madras alumni, Geetansh Bamania and Ajay Nain, Rentomojo lets users rent furniture and home furnishings for a minimum period of three months. 
 
After the funding, Venkatesh Peddi from IDG Ventures India and Prashanth Prakash from Accel Partners have joined the board of Directors of Rentomojo, which currently operates in Mumbai, Delhi-NCR, Pune and Bengaluru. 
 
Bamania, co-founder and CEO, Rentomojo said, “We are witnessing the birth of Access Economy with the advent of Airbnb, Uber, Rentherunway and the likes. We want our users to get an access to a personalized lifestyle without actually owning it. We work as a marketplace and keep this business asset light.” 
 
Accel Partners was one of the first investors for Flipkart, Freshdesk, Myntra and Commonfloor as well. meanwhile, IDG Ventures India is part a global network of technology venture funds and has invested in Flipkart, Yatra, Newgen, Brainbees (FirstCry.com), Vserv, Manthan Software, Valyoo (Lenskart.com), Ozone Media and Actoserba (Zivame.com). 
 
“Rentomojo has a grand vision. The platform is witnessing exponential growth and it is exciting to be part of this growth” said Peddi, Executive Director, IDG Ventures India Advisors.

Furnishing rental platform, Rentomojo, gets Pre Series A funding, raises $2 million

If you are disappointed that with the end of Great <keyword id="6357762" type="UNKNOWN" weightage="20" keywordseo="Online-shopping">Online Shopping</keyword> Festival (GOSF 2014), your last reason for shopping this year has expired; so let us tell you that’s not the case. As Christmas is just around the corner, many online stores are working overtime to ensure that you enjoy a ‘merry shopping spree’ before wishing ‘merry Christmas’. And if you are stuck with gift ideas that are perfect for everyone on your lists, here are some suggestions on where you can look to meet all of your <keyword id="1323421" type="UNKNOWN" weightage="20" keywordseo="Christmas-shopping">Christmas shopping</keyword> needs. 
 
Kids 
 
 
What is Christmas without the ringing laughter and the gleeful screams of happy children? Smiles of the youngest ones are the biggest during this festival. And to see these smiles, you needn’t have to make your wallet frown. At Firstcry.com, you can fulfill all your kids’ wishes at an affordable price. Asia’s largest online baby and kids’ store is hosting a Merry X’Mas sale till 31 December, 2014, offering flat 33% off on all orders above Rs 999. This offer is applicable across all categories like apparels, footwear, baby gear, toys, games, or nursery needs. 
(Image: firstcry) 
 
Gifts 
 In Christmas, gifts are most looked forward to across all ages and genders. You can lay your hands on some beautiful Christmas Personalized Gifts like chocolate hampers, tea-light holders, bells , paintings and other such curios at the best prices on Indiatimes Shopping. However, if you wish to give some more practical gifts this Christmas, you ought to visit stores like Flipkart, Amazon India, ebay and <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>, which offer you neatly segregated special Christmas stores. Here, you can find the most exciting deals on everything from home décor, kitchen ware, to fashion apparels, accessories and electronics. 
(Image: indiatimes) 
 
Home Décor 
 
Christmas is definitely incomplete without some sparkles, tinsels and wreaths in the home. As temperatures dip outside, you can uplift the warm, festive spirit of your home at little extra cost this season with The Super Big Christmas Sale 2014 at Pepperfry.com. This huge online marketplace for home and living is offering up to 40% extra off on furniture, home décor, furnishing, kitchen appliances, bed and bath products and more. While FashionandYou has a separate Christmas Call section, Fashionara too has a Christmas Carnival section, offering charming Christmas themed home décor items at amazing discounts. 
(Image: Pepperfry) 
 
Clothes 
 Everyone is bit by the party bug during Christmas. So, if you have already exhausted your party wardrobe, you can rejuvenate it with the latest trends at your convenience. Two of India’s most fashion-savvy online portals, Myntra and Jabong, have launched their respective special party stores. The e-tailers have accumulated all the party apparels and accessories in one place, making your <keyword id="8203" type="ORGANIZATION" weightage="20" keywordseo="Christmas-party">Christmas party</keyword> shopping easier and hassle-free. What’s more? Many of these products come at a discount of more than 50%! 
(Image: Myntra) 
 
Travel 
 
If you are planning your Christmas and New Year holidays, here is another reason to smile even broader. Well-known travel site expedia.co.in brings you up to 50% additional discounts on domestic and international hotel bookings, till 22 December, 2014. Another travel site, Musafir.com is hosting Winter Carnival, giving flat Rs 600 off on domestic flights as well as a discount of Rs 5,000 on international flights. 
 
Image: expedia.co.in, Thinkstock 
 
This article has been written by Vandana Baria, Content Marketing Specialist at <a href="http://www.desidime.com/">DesiDime.com</a>

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Myntra all set to start selling furniture, jewellery and personal care products

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Wait for three months and you will also have Myntra’s store either in Bengaluru or New Delhi

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