Charts out an International roadmap with the big idea of Local to Global
Bengaluru, India: Myntra has launched Myntra Fashion brands in the Middle East, giving a strong impetus to its international expansion plans. The company has partnered with the leading regional e-commerce platforms, noon.com and namshi.com tooffer brands of Indian origin to millions of fashion-forward shoppers in the region.
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.
With this entry of the Myntra Fashion Brands into the region, 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. This shift in trend is propelled by a considerable change in lifestyle, owing to the ongoing pandemic. Over 75% of the styles being exported by Myntra to these markets are developed in India.
Speaking about the international expansion, Amar Nagaram, CEO, Myntra, said, “We are elated to announce our overseas expansion. This is a significant milestone in our journey so far and marks the next phase of growth for Myntra. Our research identified high levels of potential channels across the globe offering significant opportunities in the online fashion segment. Amongst these, the Middle East stood out in terms of the audience’s demographic profile, extremely high mobile penetration, the similarity in fashion preferences and a large population of Indian origin. We are looking forward to a 5X growth from the partnership over the next two years. Myntra will continue to explore new markets in order to build brands of international repute and expand its base of global consumers.”
Myntra has established itself as one of India’s leading destinations for fashion and lifestyle and the foray into the Middle East paves the way for its international expansion.