E-platform MiraiStore shuts shop

While the e-commerce market is booming in India, there are some who are finding

it difficult to survive. For example, Bangalore-based Uniworld Lifestyle Solutions, which launched the fashion and lifestyle e-store MiraiStore.com in April 2012, has closed down. Although the company has suspended its online operations, it will start offering its own private label brands Felicia (range of clothes) and Mirai (range of accessories) through online and offline stores across the country, says a company notification.

The site is not currently functional but when one visits, it shows a message that reads: “Due to our increased focus on our private label, we are temporarily suspending our online operations on miraistore.com”. Felicia range of clothes and Mirai range of accessories will be available shortly on leading online and offline stores in India.

MiraiStore was founded by Ram Bhamidi (CEO), along with Asha Shridhar (COO, brands) and Myntra.com co-founder Sankar Bora (COO, operations). Prior to starting this venture, Bhamidi was senior Vice-President (online marketing) at People Interactive while Shridhar was Chief Brand Manager of Scullers. They also had on board Femina Prem (co-founder and former Director of Uniworld), as a director looking after PR and corporate communications.

The e-store offered a wide range of apparels and accessories from designers like Manoviraj Khosla and Sarita Mandoth, Rahul Mishra, Divya Anand, Krishna Mehta and Priyadarshini Rao, as well as brands like Scullers, People, Manchester United, W, USI and more. The company also raised an undisclosed sum in angel funding from Prem Kumar M, Uniworld Logistics’ group managing director and CEO, in December 2012.