Ahead of festive season, Myntra introduces zero-commission model for some ethnicwear brands
'The festive season being a high-consumption period across the country, we are deeply committed to providing an ecosystem for the next generation of digital-first brands … with a zero commission construct,' Sharon Pais, chief business officer, Myntra, said in a statement.
The initiative, a part of the Myntra Rising Stars programme, is available for brands that are currently selling through their own D2C platforms or social commerce channels.
Under the initiative, brands will receive support from Myntra, including strategic account management, on a service-fee basis. They will also get onboarding support, quicker payment cycles and access to the M-Express delivery network, which allows brands to deliver orders in a day or two.
Additionally, these labels will gain visibility on Myntra's homepage and category pages. Myntra will also help these brands with visibility through its Glamstream and Myntra Minis initiatives. 'This enables the brands to kickstart their journey on Myntra and help them access the user base of over 70 million, covering 98% of serviceable pincodes across India, while also leveraging Myntra's tech capabilities,' Pais said.Myntra plans to onboard 500 digital-first women's ethnicwear brands in the next three months as part of this programme.Myntra is not the only platform to reduce commissions ahead of the festive season. Last year, Amazon India also tweaked its seller fee structures and reduced commissions in the range of 3-12% for 59 sub-categories.Even ecommerce platform Meesho has a zero commission model for sellers on its platform. Besides zero commission, it also doesn't charge sellers a penalty for late despatch or order cancellation.
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