Flipkart-owned Myntra has acquired the Mumbai-based omnichannel retail platform Pretr for an undisclosed amount. This new acquisition will help Myntra to establish omnichannel partnerships with brands on its platform, providing a comprehensive solution to its users.
This acquisition comes weeks after Myntra and Jabong announced to invest ₹20,600 crores on expansion over the next three years.
Pretr was founded by Bhavik Jhaveri and Ankur Joshi in 2016. It aims to integrate the online and offline segments of the market in order to provide an enhanced experience for the customers. Deployed at leading retailers in India and the Middle East, its omnichannel suite provides retailers with solutions for management, clienteling, store analytics, and more.
As Myntra enters a new growth phase, omnichannel is going to be one of the priority areas for the company. With this acquisition, Myntra will be able to provide its customers with a unified view of a brands inventory both online and offline. They will also be able to avail value-added services like same-day delivery, click and collect, and return or exchange at brands stores. This will also help the brands to boost their sales, improve inventory utilization, and offer a much richer customer experience all across the stores.
“Omnichannel – one view of inventory and one view of customer irrespective of the channel, will bring the best of offline and online world to customers – the touch and feel experience of offline and the convenience of online. Through the partnership with Pretr, we are looking to be leaders in this by partnering with 50 strategic brands in the next 1 year across all their stores and enabling all the Myntra private brand offline stores to deliver the most unique and differentiated experience in the industry to customers,” Ananya Tripathi, chief strategy officer, Myntra.
After leading the online fashion marketplace in the country, Myntra is looking to take the customer experience to a whole new level by providing the opportunity to touch and feel the products in the stores before buying, using the omnichannel platform.
Myntra had acquired Bengaluru-based wearable devices startup Witworks in April this year.