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Myntra sells record-breaking 50 lakh products on Day 1 of EORS-16

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 Myntra, one of India’s leading fashion, beauty and lifestyle destinations, on Monday said that the 16th edition of its flagship EORS-16 (End of Reason Sale) witnessed over 70 per cent growth in traffic over business as usual (BAU) on Day One.

India shopped a record-breaking 50 lakh products in the first 24 hours of Myntra’s EORS sale that is being held from June 11-16.

On Day One, 2.6 million items were shipped within the first 24 hours of the event.

“The upwardly-mobile fashion-forward consumers have once again welcomed EORS with a hearty opening, purchasing ~50 lakh products within the first 24 hours to cater to their fashion and beauty needs,” said Nandita Sinha, CEO, Myntra.

“It’s also very encouraging to see women forming 60 per cent of the shopper base and some of the tier-3 towns emerging as high traction customer hubs on day 1 of this edition. As the event unfolds itself in the next few days, we are excited to serve millions of customers with our tech-pivoted delightful shopping experience,” Sinha added.

Women’s western wear category saw demand for 14 lakhs tops and t-shirts and 7.6 lakhs kurtas on Day One.

Nearly two-thirds of the demand in �Beauty and Personal Care’ was led by makeup, skincare and fragrances, with over 100,000 lipsticks shopped by customers.

Jewellery witnessed over 2 times jump over BAU with workwear jewellery driving the demand.

In the menswear category, jeans have seen the highest spike of 10 times over BAU with similar high demand for t-shirts and shirts at 8 times over BAU.

With the resurgence of focus on fitness, customers made the most of the sharp value offers by renowned brands such as Puma, Nike, Adidas, Skechers and HRX, among others.

Sportswear trended on Day One with 1.7 times spike over BAU. Sports apparel for plus sizes and yoga also saw heightened traction on the first day, the company informed.

Kidswear, one of the fast-emerging categories on Myntra, witnessed a whopping 3 times jump over BAU, with summer essentials such as t-shirts and shorts, and footwear driving the demand.

Myntra recorded the highest number of app installs to date at an unprecedented 4.5 million during the pre-buzz period.

Nearly 51 per cent of the Day One customers who made their first purchase on Myntra were from tier 2/3 cities, further consolidating Myntra’s hold beyond metros and big cities.

The traffic on the platform built-up to a record of 8 million during the �Early Access’ period of the six-day fashion extravaganza.

About 1.2 lakh products were ordered during the first 10 minutes as customers rushed to make the most of the midnight opening

On Day One, Delhi shopped the most among metros, with Bengaluru, Mumbai and Hyderabad being some of the other leading metros driving demand.

Among the top non-metro cities that shopped during this period were Jaipur, Lucknow, Patna, Indore, Surat, Vizag and Ludhiana.

Top tier-3 cities included Dehradun and Aizawl, while the emerging tier-3 cities included Dimapur (Nagaland), Tiruvallur (Tamil Nadu), Roopnagar (Punjab) and Jabalpur (MP).

Myntra’s country-wide network of 21,000 Kirana store partners (MENSA network) is catering to over 19,000 pin codes and will be fulfilling 85 per cent of the deliveries and providing crucial support to the last mile delivery process during the event.

Myntra said it has created about 27,500 third-party employment opportunities through its partners to cater to the expected surge in demand.

As a part of its omni-channel integration, the platform is enabling over 300 brands across more than 3,800 stores to offer customers a seamless shopping experience.

International

Extreme marine heatwaves tripled over past 80 years: Study

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London, April 17: The number of days each year that the world’s oceans experience extreme surface heat has tripled over the past 80 years due to global warming, a new study has found.

Researchers found that, on average, the global sea surface saw about 15 days of extreme heat annually in the 1940s, Xinhua news agency reported.

Today that figure has soared to nearly 50 days per year, revealed the study published in the journal Proceedings of the National Academy of Sciences.

Global warming is responsible for almost half of the occurrence of marine heatwaves — periods when sea surface temperatures rise well above normal for an extended time.

The study, produced by a team of scientists from the Mediterranean Institute for Advanced Studies, the University of Reading, the International Space Science Institute, and the University of the Balearic Islands, also found that rising global temperatures are making extreme ocean heat events last longer and become more intense.

“Marine heatwaves can devastate underwater ecosystems. Extended periods of unusually warm water can kill coral reefs, destroy kelp forests, and harm seagrass meadows,” said Xiangbo Feng, a co-author of the study at the National Centre for Atmospheric Science at the University of Reading.

The impacts of marine heat waves extend beyond the ocean. The researcher warns that increased marine heatwaves could, in return, cause our atmosphere less stable leading to more frequent and powerful tropical storms in some regions.

“As global temperatures continue to rise, marine heatwaves will become even more common and severe, putting increasing pressure on already stressed ocean ecosystems. These increased marine heatwaves could, in return, cause our atmosphere less stable leading to more frequent and powerful tropical storms in some regions,” Feng said

Noting that human activities are fundamentally changing oceans, the study called for urgent climate action to protect marine environments.

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Business

US tariff hikes no longer make economic sense: China

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Beijing, April 17: A Chinese foreign ministry spokesperson said on Thursday that the United States’ 245 per cent tariff on certain products from China no longer makes economic sense.

It the US continues to play the “tariff numbers game”, it will pay no attention to it, according to the spokesperson, Xinhua news agency reported.

The statement came in the wake of White House’s statement that China faces tariffs of up to 245 per cent due to its retaliatory action.

China now faces up to 245 per cent tariffs on imports to the US as a result of its retaliatory tariffs, according to the White House Fact sheet.

This came after Beijing ordered its airlines not to take any further deliveries of Boeing jets in response to the earlier US decision to impose 145 per cent tariffs on Chinese goods.

According to the White House, the US President is open to making a trade deal with China, but Beijing should make the first move.

“More than 75 countries have already reached out to discuss new trade deals. As a result, the individualised higher tariffs are currently paused amid these discussions, except for China, which retaliated,” it said.

The White House also accused Beijing of banning exports to the US of gallium, germanium, antimony, and other key high-tech materials with potential military applications.

There are no winners in a trade conflict and the tussle between China and the US raises the risk of economic and geopolitical fallout, a report by S&P Global Ratings said this week.

Home to sizable manufacturing activities, Asia-Pacific is highly dependent on exports to the U.S. and China for growth. At the same time, Asia-Pacific depends on the US mostly for security.

The region could find itself pushed to take sides or walk a delicate line between the two large economies, the report stated.

To counteract tariffs, Asia-Pacific governments are exploring the formation of regional trade blocs or bilateral trade agreements. These efforts could accelerate, expediting the need to relocate supply sources and production.

China’s economic growth is seeing rising downside risk amid rising trade tensions with the US as its export engine falters from weaker global demand. The country’s domestic growth engine remains subdued, given the lingering real estate crisis, which is dragging down confidence.

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Business

India’s rooftop solar energy capacity to reach 25-30 GW by FY27

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New Delhi, April 15: India’s rooftop solar energy capacity is projected to surge from 17 GW to an estimated 25–30 GW between FY25 and FY27, a report showed on Tuesday.

The expansion is driven by India’s broader energy transition goals, with solar power emerging as a central pillar in the country’s clean energy roadmap.

With a total renewable capacity of 220 GW as of FY25 and a national target of 300 GW solar capacity by 2030, rooftop solar, particularly in the commercial and industrial (C&I) segment, is expected to play a pivotal role in this growth, according to the report by CareEdge Ratings.

As of FY25, India’s rooftop solar capacity stood at 17.02 GW, and increasing awareness among businesses about reducing operating costs and meeting sustainability targets is fuelling adoption.

Government incentives, reducing technology costs, and policy support such as net metering and PLI schemes are expected to further accelerate deployment.

Overall, the FY27 projection underscores a transformative phase for India’s solar industry, setting the foundation for sustained expansion through the end of the decade.

“Rooftop solar installations in India have gained momentum. With the growing C&I demand backed by an improving policy ecosystem, we expect the market to reach nearly 25-30 GW over the next two years,” said Tanvi Shah, Director at CareEdge Advisory and Research.

The PM Surya Ghar Muft Bijli Yojana, aimed at installing rooftop solar in 1 crore households with subsidies up to Rs 78,000, is expected to provide strong support to residential adoption. The scheme not only supports low and middle-income households by reducing their electricity bills but also aims to create nearly 17 lakh jobs, boosting the solar value chain.

Recently, rooftop solar initiative has achieved a historic milestone with 10 lakh installations as of March 10, 2025.

Gujarat remains a leader due to its progressive “Surya Gujarat” programme, while Maharashtra has seen strong commercial and industrial demand, especially from MSMEs and urban commercial hubs.

“The rooftop solar segment which currently holds around 20 per cent share of India’s solar mix is gaining importance due to its distributed nature and direct consumer engagement. This is despite utility-scale solar being the dominant contributor,” said the report.

The growth of rooftop solar market in India has witnessed accelerated growth in the recent years. With strong policy backing, falling costs, and growing consumer interest, it is set to emerge as a key pillar in India’s renewable energy transition, said the report.

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