Myntra's 'Brand Meet' shares pioneering market trends
The third edition of Annual Brand Meet 2014 hosted by online lifestyle and fashion retailer, Myntra witnessed pioneering market trends shared by industry experts from the retail, consumer goods and internet space.
The event organised in Bangalore also saw participation from over 400 brands marketing apparel, footwear and accessories from across India.
The Summit focused on how brands and suppliers can work together with Myntra and Flipkart, understand one another’s business objectives, and develop deeper collaborations.
“The show paved the way for path-breaking ideas that are expected to revolutionize the fast growing e-commerce industry, by bringing together, under one roof, partner brands for a day long networking event”, Myntra said.
CEO of Myntra and Head of Fashion at Flipkart, Mukesh Bansal spoke about the online platform as a great enabler for the retail industry where brands can overcome geographical, demographic and psychographic barriers to reach a wide array of customers by building strong synergies between brands and retailers.
This was followed by an keynote address by Sachin Bansal and Binny Bansal, co-founders of Flipkart who focused on the prominence of the marketplace model in the last few years and how integration with brand partners is an essential step towards achieving a win-win situation for brands and marketplaces.
One of the key highlights of the event was a session by Kirthiga Reddy, MD, Facebook India, on how social and more importantly, mobile is becoming a reckoning force for a lot of brands and especially for the e-commerce industry.
The first panel discussion focused on ‘Building an effective Online Sales Channel’ and included Rajiv Mehta – MD of Puma South Asia, Vineet Gautam, Country Head at Bestseller, Anant Daga CEO at apparel brand W and S Bindra, MD of womenswear brand Biba.
Among various topics, topics such as collaboration between the online and offline platforms for a brand’s overall success and how retailers have a wide array of customer data at its disposal were discussed.
The session also focused on how partnering with an e-commerce player is one of the more favourable options for brands looking to generate online sales.
This was followed with talks by prominent industry experts Rama Bijapurkar, Consumer Analyst on the ‘Changing face of Indian Consumer’ which focused on consumer psychographics and Santosh Desai, MD & CEO, Futurebrands spoke on how best can brands be built in a competitive and challenging Indian market.
Another panel discussion focussed on ‘Macro Fashion Trends’, which included Bhaskar Bhat, MD of Titan Company Limited, Ashish Dikshit – CEO at Madura Fashion & Lifestyle, and J Suresh, CEO at Arvind Lifestyle.
The panel focused on trends like how the younger generation has taken over as the majority stakeholders in consumer brands. The discussion also revolved around an increasing need for brands as well as retailers to adapt to fast fashion that has caught on with the millennials of today.
Fibre2fashion News Desk - India