New Delhi [India], Apr 20 (ANI): E-commerce portal Myntra on Wednesday announced that it has acquired InLogg, a Bengaluru-based technology platform that provides end to end logistics solutions for the ecommerce sector.
As part of the acquisition, the team at InLogg has been inducted into Myntra, making it an acqui-hire that will further strengthen and expand Myntra's supply chain capabilities.
"Myntra's vision is to use technology to democratise fashion. With an 80 percent year on year growth, we are on a strong trajectory to achieve this. The Inlogg acqui-hire with the platform and capabilities will help us scale while delivering great customer experience in Tier II, III and IV cities. It will allow us to leverage local and regional players to enhance our reach, reduce delivery time and develop a plug and play model which can be scaled in the future," said Ananya Tripathi, Chief Strategy and Planning Officer, Myntra.
InLogg was founded in 2015 by a team with first-hand expertise in fulfillment, technology and business, with an aim to standardise the process of logistics in remote areas and bring in efficiency. To enable accesibility, the InLogg platform has onboarded local and regional courier players in multiple states across the country.
The company stitches composite supply chain using multiple regional logistics players to provide a pan India delivery network.
Over 50 percent of the e-commerce and retail business in India is contributed by tier II, III and IV cities and towns. With limited logistical capability and reliability in these areas, InLogg devised a solution to bridge the gap with technology.
InLogg is uplifting technology sophistication of regional courier companies by providing SaaS for shipment lifecycle management, mobile apps for pickup, delivery, returns, COD reconciliation, reporting and analytics. This helps in standardising the logistics fulfillment process and providing needed visibility.
With this acquisition, Myntra will be able to strengthen its logistics capability with an expanded reach and enhanced customer experience.
"With the implementation of GST, launch of Value added services and continued focus on efficiency in FY18 has led to SCM becoming one of the most exciting areas where we will continue to invest for the future," said Ambarish Kenghe, Chief Product Officer, Myntra.
InLogg is Myntra's fourth technology-led acquisition. Prior to this, the latter acqui-hired two other Bengaluru-based companies - Native5, a mobile app development firm in 2015 and Cubeit, a tech start-up in 2016. (ANI)