Myntra's entry to quick commerce in Delhi-NCR and Mumbai hold key considerations
Amidst critical operational challenges in the quick commerce sector related to hiring and retaining delivery partners, ecommerce major Myntra has rolled out its 30-minute delivery service M-Now in Delhi NCR and Mumbai.Myntra piloted M-Now in Bengaluru in December last year, initially with about 10,000 stock-keeping units (SKUs). ET had reported on December 4 that the online fashion company plans to take the service to Mumbai, New Delhi and Pune in the coming months.Myntra chief executive Nandita Sinha, had told ET in an interview that the fashion etailer had identified significant demand from fashion-first and trend-focused premium customers for quick deliveries, adding that customers are looking for access to their preferred brands with speedy fulfilment.Under M-Now, customers can find collections from nearly 600 brands, including Vero Moda, Mango, Calvin Klein, Tommy Hilfiger, Levi's, Dyson, YSL, Prada, Carolina Herrera, Huda Beauty, the company said.M-Now's presence in Delhi-NCR makes it pivotal in joining the quick commerce race, and offering multiple brands in one click. In April, data sourced by ET revealed that Myntra is seeing sharp growth in vacation-related shopping. Summer-ready styles in apparel and footwear—such as sundresses, skirts, shorts, cotton shirts, swimwear, flip flops and sandals—are seeing strong traction.Myntra said demand for these categories rose around 2.2 times year-on-year in March and April compared to the beginning of the year. Popular brands in this space include H&M, MANGO, Puma, Crocs, US Polo, Tommy Hilfiger, Adidas, Trendyol and Levi's.Standardised products readily available with convenient return options are likely to spur demand on quick commerce platforms like M-Now, Myntra's M-Express has already been popular with customers, delivering orders in one to two business days.Thus, expanding to Delhi-NCR and Mumbai region would open opportunities to tap urban consumers looking for quick deliveries.In FY24, Myntra posted a net profit of Rs 30.9 crore against revenue of Rs 5,173.7 crore.Quick commerce now accounts for 20% of India's ecommerce market and is growing at a rate of 50% annually, Walmart International chief executive Kathryn McLay said in May Walmart-backed Flipkart's Q-comm entity Flipkart Minutes, is targeting 800 dark stores by the end of 2025. Companies such as Zepto are in advanced talks with Edelweiss Alternative Asset, domestic family offices and smaller credit funds for around Rs 1,500 crore structured debt.Blinkit had an annualised GOV of $3.6 billio n in the quarter ended December 31, 2024. Swiggy Instamart posted an annualised gross sales run rate of $1.8 billion in the same quarter.As price becomes the primary differentiator for these apps with near-similar user experience, intense discounting and attendant cash burn are likely to intensify further, a recent report by ET highlighted. This month, average discounts across categories rose to 20–25% on maximum retail price compared to below 10% two years ago across various quick commerce platforms, including for segments like dairy and groceries, the sources said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
17 minutes ago
- India Today
Kanpur leather industry hit by US tariff hike, Rs 2,000 crore exports stalled
Kanpur's leather industry, a major export hub, is staring at a severe crisis after the United States sharply increased import duties on Indian leather goods to 60%—double the rate imposed on China and far higher than Pakistan (19%) and Bangladesh (20%). Exporters fear the move could wipe out nearly all of Kanpur's annual Rs 2,000 crore leather exports to the SAY BUYERS BACKING OUTJafar Iqbal, a Kanpur-based exporter and factory owner, said shipments have been halted as American buyers withdraw from contracts. 'In May, when tariffs were 10%, we agreed to bear half the cost to retain orders. Now, with the new rates, neither side can afford it. Five of our containers are ready, but we don't know what to do,' he told India Today BLOW FOR THE INDUSTRYNaiyar Jamal, another exporter, said the sector was already struggling under environmental regulations such as Namami Gange before being hit by the tariff hike. Despite mounting losses, he expressed support for the government's stance against US trade TO 10 LAKH JOBS Leather trader Javed Iqbal warned the tariff hike could devastate Kanpur and neighbouring Unnao, where the industry employs nearly 10 lakh people. Lower tariffs for Pakistan, China, Vietnam, and Cambodia are expected to draw away American buyers. 'We stand with the government, even if it means bearing heavy losses in the national interest,' he HALTED DESPITE FESTIVE ORDERSPrerna Verma, a leather accessories exporter, said confusion over the new policy has brought production to a near standstill. Demand in recent years has already fallen to 60% of previous levels, forcing some units to lay off Iraqi, Chairman of the Council for Leather Exports (Central Region), said that although Christmas orders have arrived, production for the US market has been halted. He met Commerce Minister Piyush Goyal in Delhi two to three days ago, where the government discussed possible relief measures—such as interest subsidies—in the case of a 25% tariff. However, with the import duty now set at 50%, such measures are unlikely to suffice. 'Buyers and sellers can manage an extra 5–10% cost but such a steep hike is beyond anyone's capacity," he said.- EndsTune InMust Watch
Time of India
20 minutes ago
- Time of India
EAM Jaishankar to visit Russia next week
External affairs minister S Jaishankar will make an official visit to Russia next week as part of New Delhi's efforts to widen strategic partnership with the resource-rich nation in critical economic sectors, according to officials. Observers said this is significant in the backdrop of the planned meeting between US President Donald Trump and Russian President Vladimir Putin in Alaska on Friday, which they said could yield a ceasefire deal in the Russia-Ukraine war and a possible easing of the additional 25% tariff that the US has imposed on Indian goods because of New Delhi's decision to continue importing oil from Russia. Trump sees India's oil trade with Moscow as "funding" Russia's war efforts. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program Jaishankar is expected to meet Russian foreign minister Sergei Lavrov in Moscow on August 21, and the outcome of the Trump-Putin meeting is expected to figure in their talks, people in the know told ET. Besides Moscow, Jaishankar may also visit the resource-rich Arctic region.
Time of India
31 minutes ago
- Time of India
Vacant for 15 years, 1k affordable flats to be repaired & allotted
Gurgaon: A plan to demolish 1,088 EWS flats in Sector 47 has been shelved, paving the way for long-delayed allotments. The renovation work of these flats will be carried out by Haryana Shahari Vikas Pradhikaran (HSVP), and flats will be allotted to eligible families. Built at Rs 42 crore in 2010 under the Ashiana scheme for the poor, the flats remained unoccupied for 15 years and were never allotted due to a mix of procedural delays and disputes over beneficiary eligibility. Earlier, HSVP officials stated that identifying qualified applicants proved difficult, as many lacked complete documentation or did not meet income and residence criteria. Over the years, verification exercises stalled repeatedly, and the absence of a final allottee list left the units vacant. You Can Also Check: Gurgaon AQI | Weather in Gurgaon | Bank Holidays in Gurgaon | Public Holidays in Gurgaon | Gold Rates Today in Gurgaon | Silver Rates Today in Gurgaon Following a complaint by advocate Abhay Jain, Huda decided to renovate the units instead of tearing them down. Confirming the development, HSVP administrator Dr Chander Shekher Khare told TOI that Rs 8 crore have been sanctioned for the renovation of EWS flats. The allotment will be done once the renovation work is complete. According to HSVP officials, the original proposal was to demolish the Sector 47 flats, auction the prime land for high-end group housing, and shift EWS allottees to a five-acre multi-storey complex in Sector 9. Officials, however, justified the move by citing the high market value of the Sector 47 plot – located next to the district centre, with a metro station planned nearby, and adjacent to a large IKEA mixed-use commercial project. The then estate officer had said, "This land, about 18 to 20 acres, is very valuable. The land will be auctioned for group housing, and EWS allottees will be accommodated in the Sector 9 project." Jain's complaint, alleging that the demolition plan undermined the original purpose of the Ashiana scheme, was taken up by the Prime Minister's Office. The PMO sought responses from HSVP officials, and within weeks, the proposal to raze the flats was shelved. On Aug 5, HSVP sanctioned Rs 8.8 crore for special repairs, to be completed within 150 days. Once restored, the flats will be allotted to beneficiaries as originally intended under the scheme. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
