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MYNTRA FINANCIAL RESULTS
FEMA case against Myntra closed following compounding: EDMyntra's foreign exchange violation probe has concluded after the RBI issued a compounding order. The Enforcement Directorate gave its no o...- RBI clears Myntra's FEMA violations after penalty payment; ED closes investigationThe Reserve Bank of India has closed an Enforcement Directorate investigation into Myntra Designs Private Limited. This action follows the ...
- Mother's Day Special: How AI, apps are empowering women to manage finances, improve health, build careerWomen are learning to keep pace with the ubiquitous apps and AI, shrugging off dependence on their kids for financial transactions, online ...
- Myntra consolidates Gurugram satellite ops with Bengaluru HQ leading to some transfers & layoffs: SourcesMyntra is consolidating its Gurgaon operations into its Bengaluru headquarters, relocating some roles and implementing layoffs with severan...
- ETtech Explainer: How ads have become a key revenue engine for ecommerce platformsWhile seen as an ancillary source of revenue, income from advertisements is highly profitable for these platforms — with around 90-95% of t...
- ED files Fema case against Myntra for Rs 1,654 crore FDI violationFlipkart-owned fashion etailer Myntra is facing an ED complaint for alleged FDI rules violations, totalling Rs 1,654 crore. Accused of misu...
- Myntra turns in a profit in FY24, revenue jumps 15% to Rs 5,122 croreThe Flipkart-owned fashion platform, which entered quick commerce last week, has been working on slashing the cost of returns which has pla...
- Fashion platform Myntra’s FY23 revenue grows 25% to Rs 4,375 crore, loss widensMyntra's total expenses in FY23 rose to Rs 5,290 crore. The fashion etailer spent Rs 1,758 crore in advertising and promotional expenses, u...
- Myntra revenue rises 45% to Rs 3,501 crore, losses widen 40%Myntra’s revenue growth rate, even though on a smaller base, surpassed parent Flipkart’s marketplace business’s revenue growth rate, which ...
- Fashion brands partner with Myntra for the first online sale post lockdown with deep discounting to woo back shoppersIndia was under complete lockdown since Prime Minister Narendra Modi announced it on March 24 due to the coronavirus outbreak resulting in ...
- Walmart takes a $290 million impairment on JabongFlipkart has been struggling to figure out a definitive long-term strategy for the fashion portal.
- Employees' financial well-being need of the hour for new-age companiesMyntra rolled out ‘Thrive’, a wellness framework in which financial well-being is one of the main tenets.
- Myntra reduces losses by 25% to Rs 655 cr in FY17This reduction in losses comes even as Myntra Designs, the main entity that runs Myntra’s marketplace, clocked a whopping 94% increase in F...
- Top Myntra seller’s revenue soars from Rs 1.3 crore to Rs 2.5k crore in one yearThe Flipkart-owned Myntra used to register the bulk of its sales from Vector Ecommerce, but it started reducing its dependence on the selle...
- Myntra’s largest seller clocks loss of Rs 8.7 crore, but sales up 40%Since there is a ban on FDI in direct online retail, Myntra sources products from brands and sells them to Vector, which in turn sells them...
- How technology is helping ecommerce players solve recurrent problemsA constant struggle for ecommerce companies is whether their products are priced too high or if they are leaving too much money on the tabl...
- Mukesh Bansal, Ankit Nagori team up to launch a health and fitness startupThe move comes barely six weeks after Bansal, former head honcho at Flipkart, and Nagori resigned from the country’s largest online retaile...
- One less Bansal at Flipkart as Myntra's Mukesh quits; senior executive Ankit Nagori to also leaveMukesh Bansal has resigned as head of commerce & advertising biz at Flipkart, just weeks after a restructuring that resulted in Binny Bansa...
- Myntra’s Mukesh Bansal to play a larger role at Flipkart after reshuffleEmployees at the Bengaluru company were informed about these changes in an email on Monday morning sent by founders Sachin Bansal and Binny...
- Flipkart-Myntra deal: The anticipated FDI in e-retail a big driverAccording to market sources, Flipkart is losing close to Rs 70 crore a month. Myntra on the other hand, is fast losing market as well.
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