Myntra to add unique dimension to boost supply chain, enhance user experience
In the next six to eight months, online fashion store Myntra is likely to roll out a slew of offerings around 3D technology, augmented reality and virtual reality to enhance user experience as well as revamp its supply chain. The fashion e-tailer, which was acquired by cross-town peer Flipkart last year for a whopping $350 million, will also implement 3D printing technology to boost supply chain and create prototypes of products in minutes, a senior company executive told FE.
The implementation of 3D technology in supply chain, which is expected to save costs in double digits in the long run, may actually see Myntra create a prototype of a product, display it on its portal and eventually develop the product based on demand. To begin with, the initiatives will roll out with Myntra’s repertoire of private brands, which at present accounts for about a fourth of the e-tailer’s revenues.
“This is one of the many use cases. We can show consumers products without even making them. The entire value chain has lots of waste in our view. The technologies will thus help minimise the gap between supply and demand,” said Ganesh Subramanian, head, New Initiatives, Myntra.
“The other use case is how fast can you bring fashion around.”
“We talked very recently about how we are going to bring 3D as a technology both in visual and application of 3D in supply chain.3D printing is an evolving technology and a lot can be done by using that technology so that fashion can be brought to consumers faster. In some parts of the fashion supply chain, you can actually use 3D printing and create a prototype in minutes. We are also looking at technologies where the entire fashion can be expressed without even doing a sample,” he added.
Subramanian, who earlier donned the hat of chief operating officer at Myntra, took over the New Initiatives drive in January, when the big push towards revamping the company’s technology capabilities kick-started. Myntra is also said to be in talks to acquire technology companies in India as well as the US to give a fillip to the new initiatives drive.
All the new initiatives will, however, be directed towards the mobile platform as Myntra gears up to become a mobile-only platform by the end of the year. The e-tailer at present gets about 90% of its traffic from mobile devices, with over 50% of the traffic coming from tier II and III cities. For the year ended March 31, 2014, Myntra reported losses of Rs 172.8 crore on revenues of Rs 441.6 crore.
