Myntra.com wins Red Herring Global 100 award
Winners for the award are selected based upon their technological innovation, quality of management, market size, investor record, customer acquisition, financial health and integration into their respective industries.
- (1888PressRelease) February 13, 2011 - Myntra.com, India's largest on-demand personalization platform for products and gifts won Red Herring Global award 2011. Red Herring announced its Global 100 award in recognition of the leading private companies from North America, Europe, and Asia, celebrating these startups' innovations and technologies across their respective industries.
Speaking on this occasion, Mr. Mukesh Bansal, CEO, Myntra.com says "Red Herring Global 100 recognition is great validation of the leadership Myntra.com has acheived as a leading eCommerce player in the country. We are highly encouraged by this and will keep raising the bar for online customer experience in India."
"Choosing the best out of the previous three years was by no means a small feat," said Alex Vieux, Chairman of Red Herring. "After rigorous contemplation and discussion, we narrowed down our list from 1,200 potential companies to 200 finalists. Trying to get it down to 100 companies was a task upon itself. Myntra should be extremely proud of its achievement, the competition was difficult."
Red Herring's editorial staff evaluated Myntra on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the "buzz" and make the list an invaluable instrument of discovery and advocacy for the greatest business opportunities from around the world.
About Myntra:
Myntra.com is ranked among the top 10 e-commerce companies in the country and is scaling rapidly. Myntra offers consumer products such as T-shirts, Mugs, Wallets etc that can be personalized with name, photograph or text. Myntra's private label T-shirts are the largest selling category on the website. Myntra is also the first brand to pioneer into personalization of sports jerseys of cricket and soccer teams, such as IPL, Team India, EPL, and more recently FIFA. Myntra is now Nike's preferred online partner to offer personalized jerseys on Myntra.com.
Myntra.com is the most popular online destination for personalized products and gaining over 50% share in the organized market. Myntra was started by a group of IIT / IIM graduates in late 2006 and is headquartered in Bangalore with regional offices in New Delhi & Mumbai. Myntra has been funded by top tier Venture Capital funds like NEA, IDG & Accel Partner.
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