MYNTRA ADDS PRETR ONLINE TO ITS CART IN EXPANSION BID

BENGALURU: Flipkart-owned fashion retailer Myntra has acquired omni-channel fashion marketplace Pretr Online Services Pvt. Ltd for an undisclosed amount as part of its broader push towards establishing itself as a retailer across channels.

In an interview, Myntra chief executive Ananth Narayanan confirmed that Myntra had bought Pretr. He declined to disclose terms of the deal.

“The one big investment that we’ve done, and which is paying off well is omni-channel. 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.

Pretr was founded in 2016 by technology executives Bhavik Jhaveri and Ankur Joshi. Pretr’s technology platform helps retailers with a bunch of services, including order management and store analytics.

Over the next few years, Myntra plans to double down on the omni-channel strategy and open 150 stores, as it looks to go beyond its pure-play online retailing platform. Of the 150 stores, Roadster will account for 50-60 stores, while Mango and Esprit will account for 50 more.