Learn All About Myntra’s Acquisition Of Pretr
With an omnichannel strategy becoming a key priority for Myntra, it recently announced the acquisition of Pretr, a Mumbai-based omnichannel platform for retail.
Pretr’s specializations lie in being able to narrow the gap between online and offline retail, by providing unique solutions for customers and brands alike. With this acquisition, forging omnichannel partnerships with multiple brands on its platform becomes a notch easier for Myntra. It also enables Myntra to provide comprehensive solutions to retailers to enhance their own omnichannel journey.
Seamless exploration of online and offline inventories of their favourite brands becomes easier for Myntra customers. They can also avail several add on services such as streamlined delivery process which can take place on the same day, click and collect facility, and the option of returning, exchanging or adjusting clothes that were ordered online in the offline stores of the same brand.
With Pretr’s Endless Aisle solution, customers visiting the offline store of a brand will be able to check their entire catalogue, including inventory and stock from other outlets. They can select the products that they like, and pick it up later at a convenient time, or ask for it to be delivered to their workplace or home.
Through this partnership, Myntra is gearing to partner up with 50 new brands, chosen strategically, in the coming year across all their stores. According to CEO Ananth Narayanan, Myntra has noticed the trend that online sales have been increasing because of offline presence of certain brands. Pretr will help Myntra’s private brand offline stores to deliver a much richer shopping experience to customers.
Pretr was founded in 2016 by Bhavik Jhaveri and Ankur Joshi in Mumbai. They realized that offline and online channels within the same brand were often competing against each other, instead of enabling. This led them to develop solutions that would let digital mediums become an enabler to physical retail stores, and they subsequently added more functionality and services as the project gained momentum. They were able to achieve a lot owing to their prowess over internet technologies, and the use of predictive algorithms and machine learning to offer creative solutions to retailers and customers alike.