Companies

Myntra looks to expand overseas presence

Forum Gandhi Mumbai | Updated on July 29, 2020 Published on July 29, 2020

Amar Nagaram, CEO, Myntra

Partners with UAE-based e-commerce platforms Noon and Namshi

Myntra is looking to scale up its international presence. The Flipkart-owned brand has launched Myntra Fashion brands in West Asia and has partnered with the regional e-commerce platforms, noon.com and namshi.com.

Speaking to BusinessLine about the partnership, Amar Nagaram - CEO - Myntra, said this is a stepping stone to the company’s larger international goals.

In 2018, Myntra had said that it wanted to take steps towards becoming a global brand. Soon after, the brand started escalating is products on Walmart’s market place and launched a few of its private labels on Walmart Canada as well.

Both Noon and Namshi are a part of the Emaar group, a conglomerate located in the UAE. Noon is a horizontal e-commerce platform with offerings in multiple categories, while Namshi is a vertical platform, focussing primarily on fashion in the premium segment.

The brands that have been launched on Noon are Dressberry, Mast & Harbour, Moda Rapido, Here & Now, Sztori and HRX, while Namshi will list Dressberry, Mast & Harbour, Wrogn, and HRX, over the next few weeks. These brands and styles were chosen based on regional trends and consumer preferences.

“The Middle East has a large population of Indian origins. Besides, our data showed that the choice of fashion matched to the Indian consumer’s choice. This gives us a jump start instead of starting fresh in a country altogether,” Nagaram said.

Plans private labels

Myntra is planning to roll out its private labels to South East Asia where it is in advance stage of talks with potential partners.

Over 75 per cent of the styles being exported by Myntra to these markets are developed in India. This, Nagaram believes, gives Myntra a commercial edge as well. “We have the technology and the supply chain to be able to sell the products at the best quality and price point.”

Though the company did not disclose the initial inventory order placed by the two portals, Nagaram said the company is largely betting on casual wear categories, which form a major portion of the business in its domestic market. This is also aligned with the latest trends indicating a recent shift towards T-shirts, comfort bottoms, and activewear, prompting a focus on similar categories.

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Published on July 29, 2020
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