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Myntra revises revenue target, launches The North Face
12
Jan '16
Online fashion retailer Myntra has launched The North Face (TNF) merchandise on its portal after it signed an exclusive deal with the American activewear and outdoor sports gear maker and retailer, according to media reports.

The deal with The North Face is part of Myntra's plans to rake in 20 per cent revenue from outdoor apparel and sports range over the next 15 months. The Flipkart-owned company currently gets about 15 per cent of its revenues from sports business.

Myntra launched TNF apparel and footwear with a starting price of Rs 3000 on January 11.

Prasad Kompalli, Head of e-commerce at Myntra said the growth of outdoor category sales is expected to double in 2016-17 and by 2017, Myntra is looking at 20 per cent of overall revenue coming from outdoor.

Myntra has over 25 international brands, including eplay, Cole Haan and Scotch & Soda, in its portfolio. Five per cent of its sales come from these international brands.

The North Face, founded in California in 1966, is an outdoor product company specializing in outerwear, fleece, coats, shirts and more. The retailer which is part of VF Inc, will be directly competing with Columbia sportswear international brand, which entered India in December 2013.

Bruno Feltracco, Vice President and Managing Director, Outdoor and Action Sport Coalitions - Asia Pacific, at VF Asia said India offers a huge opportunity as a market. (SH)

Fibre2Fashion News Desk - India


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