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Fashion and lifestyle online retailer Myntra.com , which was acquired by Flipkart earlier this year, is all set to launch ‘The Wedding Store’ in early November.
“We have gone beyond selling products on our website, we will now offer wedding-wear solutions under one roof,” Ganesh Subramanian, COO, Myntra.com told BusinessLine .
The Wedding Store will offer wedding wear and accessories (shoes, bags, jewellery, bindis, and so on) that a bride and groom will require. It will also have everything that visitors and guests attending the wedding will need.
New brands“The store includes ethnic women’s and men’s wear and regional specialities such as dhoti-kurta and lehenga-choli that are worn in many parts of the country. The endeavour is to provide wedding-wear and accessories to people from different parts of the country,” he said.
Myntra has launched one premium international fashion brand every fortnight from August to October, in keeping with its strategy to target the fashion aspirations of the youth. The brands include Harvard University’s casual sports wear; Mango’s international collection for women; international menswear brand Antony Morato, Tommy Hilfiger, Gas, and others such as Girls on Film, Paper Dolls and Little Mistress.
Fresh styles“A thousand styles go live on Myntra everyday. Of these, one-third are from our in-house brands and the rest from our premium, international fashion brands. The idea is to infuse freshness on our website everyday,” said Subramanian.
Myntra is also investing in personalising the shopping experience to cater to the requirements of individual customers.
“For instance, if a customer wants to buy tees or shoes from Myntra, based on his or her past buying behaviour, our site will throw up options that the customer has shown a preference for earlier,” Subramanian said.
He added: “Sales on Myntra during this Diwali season has grown by 300 per cent over the same season last year. As a group (Flipkart and Myntra) will, by December, be as big as the largest fashion store chain which has a footprint of 70 stores across the country,” said Subramanian.
Myntra currently dominates online fashion sales, with a close to 30 per cent market share. Myntra and Flipkart together hold 50 per cent of the market share of online fashion sales, which is expected to increase to 70 per cent over the next 12-18 months. Fashion, as a category, constitutes 30 per cent of the $3-billion e-commerce market and is all set to overtake electronics, a category that currently leads in terms of total sales in e-commerce.
Myntra has over 500 leading Indian and international brands, retailing 60,000 styles and is targeting $1 billion in revenues by March 2016.
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