Myntra acquires Pretr Online Services
Flipkart’s online fashion platform Myntra has acquired Pretr Online Services Private Limited and plans to scale up its operations as part of a wider plan to further establish the business.
“The one big investment that we’ve done, and which is paying off well is omnichannel. We just bought Pretr, which we are very excited about,” Myntra Chief Executive Ananth Narayanan told Mint in an interview. “When we bought it, they had already linked up with 30-40 brands for store inventory. We want to scale that this year to 100 brands. They will also link all of our stores.”
Myntra will use Pretr’s technology, which includes order management and store analytics, on its platform and also offer it to its partner brands which include Esprit and Mango as well as its own private labels such as HRX and Moda Rapido.
Narayanan has not publicly disclosed the terms of the deal but did explain that the acquisition is part of Myntra’s omni-channel strategy. “We continue to see a trend, which is that online sales have gone up because of offline presence,” explained Narayanan. Moving forward, the business will expand both online and offline.
Pretr was launched in 2016 by Bhavik Jhaveri and Ankur Joshi, two technology executives. Pretr is currently operational in Mumbai.
Copyright © 2023 FashionNetwork.com All rights reserved.