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Myntra onboards Sane Retails to comply with DIPP norms
14
Aug '17
Courtesy: Myntra
Courtesy: Myntra
Myntra, a fashion e-commerce portal owned by Flipkart, has brought Sane Retails on board to comply with the new norms set by Department of Industrial Policy & Promotion (DIPP). The regulation that was announced in March last year, states that a single vendor can account for only up to 25 per cent of the total sales for an e-commerce portal.

Sane Retails will essentially be responsible for selling Myntra’s private brands, resulting in the latter reducing its dependency on Vector E-Commerce, the largest vendor of Myntra until now.

Sane Retails is likely to become an alpha vendor of Myntra as the e-commerce platform will give it access to its fulfilment centres to store inventory and logistics infrastructure to ensure relatively fast deliveries, according to media reports.

As opposed to with other third-party vendors, Sane Retails will allow Myntra to have more control over discounting, pricing, commissions and sourcing. The partnership is also expected to boost the sales of Myntra’s private fashion labels. They currently account for the e-commerce portal’s 22-23 per cent of the overall sales.

Vector E-Commerce has contributed close to 80 per cent of the company’s sales. (KD)

Fibre2Fashion News Desk – India


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