ED files complaint against Myntra for FDI contravention of over Rs 1,654 crore
A case was registered against Flipkart-backed e-commerce platform Myntra by the Enforcement Directorate on Wednesday for FDI "contravention" of over Rs 1,654 crore.
A case was registered against Flipkart-backed e-commerce platform Myntra by the Enforcement Directorate on Wednesday for FDI "contravention" of over Rs 1,654 crore.
Myntra collaborates with Masaba Gupta - the acclaimed fashion designer, beauty entrepreneur and actor as the brand ambassador for Myntra Home.
Integral to this market-leading growth has been a 33 per cent surge in Monthly Active Users (MAUs), rising from 45 million in 2021 to an impressive 60 million by the end of 2023, alongside unprecedented customer growth, the company said in a statement.
E-commerce giants Amazon, Flipkart, Myntra and others on Sunday began the festive season sales in India which is expected to reach Rs 90,000 crore worth online gross merchandise value (GMV) in the festive month
Leading online travel portal Cleartrip on Thursday partnered with Myntra to reward the top three spenders of the Big Fashion Festival (BFF), with an all-expense paid vacation to the tropical island of Bali.
"Flipkart and Myntra recognise the role of the world's forests in maintaining climate stability, preserving biodiversity, and protecting the rights of Indigenous communities," it added.
Flipkart did not disclose details on the size of Walmart’s latest stake in the company.
Venkataraman succeeds Emily McNeal, who held the role of Flipkart Group CFO since September 2018
Flipkart had acquired fashion e-commerce platform Myntra in May 2014.
Given the momentum seen in the first edition of the festive sale, the entire month of October is expected to generate up to $6 billion (Rs 39,000 crore) in online sales, almost shared by Amazon and Flipkart.
