Interestingly, with a view to have its presence outside India and to explore business opportunities abroad, the company had strategically invested in Myntra
Inc., USA, in the state of Delaware, according to the documents. The firm has made investment amounting to $48.75 in the paid-up share capital of Myntra
Inc. which comprises 4,875,000 equity shares. Myntra Inc. is engaged in the business of research and development in the field of internet technology.
This year in July, Myntra expanded in international markets. It forayed into the Middle East and launched Myntra Fashion brands there. The company partnered with the leading regional e-commerce platforms, noon.com and namshi.com to offer brands of Indian origin to millions of fashion-forward shoppers in the region.
The pandemic has accelerated the adoption of e-commerce. Myntra recently witnessed a record-breaking number of visitors at 15 million on the opening day of its flagship sale event End of Reason Sale (EORS). It registered a massive growth of more than 110 per cent over BAU (business-as-usual). The event started with Myntra selling over 3 million items within the first 24 hours, clocking more than 2X growth over the June EORS, as part of the nation’s largest fashion event which ended on Thursday night.