60% Jump Is Seen in Demand for International Brands: Myntra
Strong demand has been observed for the foreign brands in Myntra’s inventory. Apart from 50 foreign beauty companies, 25 foreign fashion labels have joined Myntra during the past 12 months. According to a top company executive, the site now sells over 400 foreign brands, and the portfolio has increased by more than 60% over the past two years.
Shoppers in tier-two cities and beyond are the main drivers of demand for foreign fashion labels, accounting for close to 40% of it. Myntra offers more than 5,000 different brands, including, but not limited to, H&M, Levis, Louis Philippe, Mango, Forever 21, Urbanic, Biba, Nike, and Fossil.“Foreign nations are influencing Indian consumers more and more. A few years ago, we learned that there is a lot of inspiration coming from all around the world. “We attempted to get into that trend and actually lead that trend for the Indian fashion buyer,” says Nandita Sinha, chief executive of Myntra.
The action also serves as a reminder of the more recent hostility shown by Indian retail establishments, who are importing international labels to profit from the rising demand for branded clothing. Better listings and more choice attract customers at various price points and attract more shoppers. For instance, Myntra, supported by Flipkart, signed up American retailer Macy’s by selling its private labels earlier this year in the run-up to the holiday season sales. Apart from the men’s casual apparel line under Club Room, these include companies like Alfani, a workwear brand for both men and women.
Ideology, the sportswear line from Macy’s, is also listed on Myntra, along with Karen Scott, which sells everyday essentials like tank tops and track trousers. More recently, the UK-based Boohoo Group entered the Indian market with Myntra. The former will sell clothing from companies like boohoo, Dorothy Perkins (DP), and Nasty Gal in categories like dresses, tops, bottoms, and shoes.
In addition, the company introduced Turkish apparel brand Trendyol, Priyanka Chopra’s hair care line Anomaly, and the Korean clothing line 8Seconds. Some of these brands also sell their products online through retailers like Ajio, Nykaa, and Tata Cliq. Revolve, a multi-brand shopping platform, has recently joined online retailer Nykaa on its platform to offer upscale apparel and accessories. According to the company, Myntra has considered collaborating with well-known companies from countries such as South East Asia, the US, the UK, South Korea, and Turkey.
It was a very exciting year for us because we introduced over 50 foreign companies in the cosmetics sector and 25 in the fashion category last year. We have received a lot of help from our customers. The number of international brands has grown by 60% during the last two years. In fact, according to Sinha, 40% of this demand comes in Tier 2 cities, demonstrating that consumers countrywide are seriously delaying the adoption of trends that are influenced abroad.
The majority of these brands, meanwhile, are primarily found online, which leaves a void in the physical retail industry. However, Sinha claimed that the decision made by international brands to enter a market is what leads to an offline approach. She argued that those decisions should be left to the brands and their plans for domestic growth.
