Flipkart-backed lifestyle e-commerce company Myntra has also entered the quick commerce sector. The company has entered this sector under the name 'M-NOW', under which it has started a pilot project of quick commerce service guaranteeing delivery within 2 hours in selected areas of Bengaluru.
However, delivery of only selected products has been started. News agency PTI quoted sources as saying that based on the lessons learned from the pilot project, this service will be started in other places also.
Earlier in 2022, Myntra had started express delivery in metro cities under the name M-Express. It aims to deliver orders within 24 to 48 hours of being placed.
Services will be improved before formally launching
Myntra spokesperson told PTI – We had earlier started M-Express service, so that the customer experience could be improved in terms of speed. Now a pilot is being done for faster delivery in some selected pin codes. We will try to improve it further based on the information received before formally launching it.
Myntra has 4 crore transaction customers
Myntra has a strong user base. According to media reports, the company has customers doing about 4 crore transactions. Myntra's revenue from operations in financial year 2021-22 was Rs 3,501 crore. It has increased by 25% on annual basis to Rs 4,375 crore in FY 2023.
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