Fashion e-tailer Myntra which is owned by Flipkart had now announced the acqui-hiring of a logistics based startup InLogg. As the part of acqui-hire, the InLogg staff will now work for Myntra.
InLogg was founded in 2015 by Ex-Myntra employees Preeti Jain, Hemant Agrawal and Prateek Gautam. InLogg is revolutionizing logistics by providing reach with the highest degree of visibility and reliability. InLogg will aggregate logistics vendors on its platform to provide unified logistics experience to e-commerce and retail companies.
Commenting on the acqui-hiring, Ananya Tripathi, Chief Strategy and Planning Officer, Myntra, said: “Myntra’s vision is to use technology to democratize 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 2, 3 and 4 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.”
The courier firms operation in tier II and tier III towns can enable deliveries for Myntra in non-metro cities. The cost associated with delivering to remote parts of non-metro cities is high in cost for e-commercials companies. This will help Myntra for reaching their local customers for the lesser cost.
As part of the deal, InLogg team has been inducted into Myntra. The two-year-old startup was clocking about 3,000 deliveries a day through its partnerships with about 20 local and regional logistics partners.
This is the sixth acquisition by Myntra. Previously, the fashion site has acquired its biggest rival Jabong in July 2016. Rather than that, it has also acquired HRX(July 2016); Cubeit(July 2016); FITIQUETTE (April 2013) and Excessively(November 2012). Read more about Indian Startup Ecosystem.