New Delhi: Online commerce platform Myntra, part of Walmart-backed Flipkart Group, has raised ₹1,062.50 crore from parent FK Myntra Holdings Pvt Ltd (Singapore), according to financial data accessed by business intelligence platform Tofler.This investment involved the issuance of 1.94 millionshares to the parent. Each share had a nominal amount of ₹1 with a significant premium of ₹5,465.23 per share.The move comes as Myntra has been expanding the scope of its business both in India and overseas. Earlier this month Myntra announced its entry into international shipping, starting with Singapore, to cater to the substantial Indian diaspora overseas with subsequent plans to expand in other markets.Myntra, started in 2007, has 70 million monthly active users and sells a range of international as well as homegrown apparel , beauty and home goods.In 2024 the company had received $81 million in funding from parent Flipkart, per news reports. Flipkart had acquired Myntra in 2014.Last year, the retailer piloted a quick delivery service in November and subsequently scaled up its 30-minute delivery in Bengaluru. More markets like Delhi now receive faster deliveries.Additonally, Myntra has been expanding its brand partnerships in the face of a greater competition at home. Myntra competes with Ajio, Meesho and Nykaa Fasion among others.Last year, Myntra announced a multi-year franchise partnership with NYSE-listed Abercrombie & Fitch Co. paving the way for the launch of Abercrombie & Fitch and Hollister stores in India. Facilitated through Myntra’s business-to-business wholesale entity, this collaboration will see Myntra Jabong establish brick-and-mortar stores, regional e-commerce sites, and branded digital storefronts in India, leveraging a network of licensed and independent third-party operators. It has similar partnerships with Mango, Nautica, and British retailer Next.Last fiscal year, Myntra’s revenue from operations grew 14.7% to ₹5,121.8 crore, per regulatory filings. Myntra did not respond to requests for comments regarding the fundraise. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Myntra has obtained funding exceeding ₹1,062 crore from FK Myntra Holdings.
