Myntra inks MoU with Printo

BANGALORE, INDIA: Myntra.com, a provider of personalised products and gifts, announced that it has entered into a partnership with Printo, a provider of printing solutions.

Starting immediately, the entire range of Myntra product catalogue would be available across all Printo outlets and Printo would make the catalogue as part of its offering bouquet to both corporate and retail customers.

Myntra would sell Printo products through its platform and also allow Printo to access designs created by its growing online network of designers.

On a strategic note, the partnering of two of the leading players in a space still highly fragmented is bound to sow the seeds for consolidation as the combined offering and reach would prove to be a sustainable competitive advantage.

According to company estimates, corporate gifting market in India is estimated to be over INR 5000 crores and the total  market for personalised products is over INR 10000 crores not to mention the printing solutions market which is even larger. This strategic partnership would generate joint revenue of over Rs 100 crore in over three years for both organisations.

Manish Sharma, co-founder & CEO, Printo, said: " The time is ripe and right for such a partnership. Myntra has built a significant online network of designers and a formidable range of personalised gifting solutions that will lead to more choices for both our retail and corporate customers who today clearly seek increased choices with customisation as a must."

Mukesh Bansal, founder & CEO, Myntra.com, said,”The next big factor post creation of a growing network of designers and product catalogue is to ensure it is accessible and marketed properly to a wider range of customers. Printo’s growing chain of retail outlets and corporate clientele provide that reach. Besides, the complimentary nature of our business ensures there is a mutual win-win."