- Angela Gonzalez-Rodriguez |
Flipkart-owned fashion retailer Myntra has acquired omnichannel fashion marketplace Pretr Online Services Pvt. Ltd for an undisclosed amount.
Myntra’s CEO Ananth Narayanan confirmed the deal in an interview with local media. “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. 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,” said Narayanan.
The move is part of Myntra’s broader push towards truly omnichannel experiences.
“We continue to see a trend, which is that online sales have gone up because of offline presence,” further added Narayanan.
Myntra plans to integrate Pretr’s technology with its own stores and simultaneously make it available to all brands on its platform, reports ‘Deal Street Asia’.