Myntra, India’s largest fashion e-commerce website, is looking to expand its reach by offering its 10 privately owned garments brands on other websites. These in-house brands give high margins to company and making them available on other websites will surely help in increasing profit of the company.
If this decision is final, soon you will see Myntra’s in-house brands on other websites like Zovi, Snapdeal, Flipkart (Myntra’s parent company) and other shopping websites in India. This will surely help company in expanding reach. But I do not think that this will help enough. Because Myntra is the largest fashion shopping website. Most of the people who buy cloths online surely visit Myntra. Yes, but when they will see same thing on various websites, it increases the probability of purchase.
“We are looking at how to sell these brands at other e-commerce sites,” said one person familiar with the matter to Time of India.
If everything goes right, this decision will go live as soon as April this year.
Myntra is also looking to open stores in Malls across the country. Buyers can try the dress before shopping it online. Buyers can also check what size if suitable for them. It will also help them selecting cloths on Myntra on future sale. Size if the main problem people generally face while shopping for cloths online. Many people reported that they usually get cloths either tight or loose. This is the reason people still prefer to go shops for cloths. Although, online fashion shopping is one of the fastest growing market in India, it still lacks many buyers who generally face the size problem.
“We are looking to set up experiential stores for the bigger brands, which helps us bring the brand experience alive,” said Gautam Kotamraju, Man behind Myntra’s in-house brands.
Online fashion and footwear sales accounts for about Rs. 3150 crore or $43 billion in 2013. Flipkart and Myntra had most of the shares of the sale. Indian e-commerce market is growing very fast. Myntra also claims to have 30% share of online fashion market.
It will be interesting to see how this decision helps company to grow.
Source: TOI
