Myntra To Expand Offline Stores & Other Startup News That You Need To Know

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Listed below are some of the major news of the startup sector, take a look to stay updated:

Myntra to expand offline stores from 12 to 100 in next 2 years

Online fashion retailer Myntra is planning to expand its offline presence from the existing 12 stores to 200 within the next two years to strengthen its private label business.

By March 2020, Myntra will open 50 stores for its biggest-selling brand, Roadster, besides expanding its offline presence with HRX. It also operates the franchise of the Mango label in India.

Crowdfunding platform 1Crowd backs smoothies brand

Smoodies, which makes fruit and vegetable smoothies, has raised $500,000 (Rs 3.4 crore) in a pre-Series A round of investment from equity crowdfunding platform 1Crowd.

The fresh capital will primarily be used for building a stronger team and setting up a new production facility for capacity expansion

A significant chunk will also go towards marketing and sales efforts.


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The UK introduces ‘startup visas’ for entrepreneurs to attract top talent

The UK has announced plans to launch ‘startup visas’ for entrepreneurs who wish to set up base in the country. The move will make the visa process “faster and smoother” for graduates, and the country would be able to attract top talent from across the globe.

As per reports, the Home Office is taking major steps to make the country a dynamic, open, and globally-trading nation. The startup visa initiative follows the recent decision of doubling the number of visas available through the “Exceptional Talent” route. The startup visa is expected to be launched in the spring of 2019.

HomeLane raises Rs 24 crore from Brand Capital

HomeLane, an online home interiors company, raised Rs 24 crore from Brand Capital, the strategic investment arm of Bennett, Coleman & Company Ltd. The investment comes as an extension to its previous $10 million funding round led by Accel Partners along with participation from Sequoia Capital and RB Investments.

The startup will deploy the money to build its online brand in the cities where it operates: Bengaluru, Chennai, Hyderabad, Mumbai, and Delhi-NCR. The company, which currently has seven experience centres in these cities — three in Bengaluru and one each in the other places — is looking to expand that to five in Bengaluru and one more in each of the other locations. 


Today’s Take Away:

Being a leader is not an easy job. There are so many responsibilities and if you falter at one, there are people waiting to criticise you.

However, American businessman, Ray Kroc has something interesting to share. He says,

“The quality of a leader is reflected in the standards they set for themselves.”