By
Fibre2Fashion
Published
Aug 14, 2017
Download
Download the article
Print
Text size

Myntra onboards Sane Retails to comply with DIPP norms

By
Fibre2Fashion
Published
Aug 14, 2017

Myntra, a fashion e-commerce portal owned by Flipkart, has brought Sane Retails on board to comply with new rules set by the Department of Industrial Policy & Promotion (DIPP). The regulation that was announced in March last year, states that a single vendor can account for only up to 25 per cent of the total sales of an e-commerce portal.


Myntra



Sane Retails will essentially be responsible for selling Myntra’s private brands, resulting in the latter reducing its dependency on Vector E-Commerce, the largest vendor of Myntra until now.

Sane Retails is likely to become an alpha vendor of Myntra as the e-commerce platform will give it access to its fulfilment centres to store inventory and logistics infrastructure to ensure relatively fast deliveries, according to media reports.

As opposed to with other third-party vendors, Sane Retails will allow Myntra to have more control over discounting, pricing, commission and sourcing. The partnership is also expected to boost the sales of Myntra’s private fashion labels.

They currently account for the e-commerce portal’s 22-23 per cent of the overall sales. Vector E-Commerce has contributed close to 80 per cent of the company’s sales. 

Copyright © 2024 Fibre2Fashion. All rights reserved.