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Global brands to fuel 15% of Myntra's revenue
28 Jan '16
2 min read
Adding yet another global label to its portfolio, online fashion retailer Myntra has partnered with New York-based fashion house DKNY to bring its apparel and accessories to Indian consumers.
The Flipkart-owned company, which currently gets about 5 per cent of its revenues from international brands, said it expects international brands to account for 15 per cent of its revenues in the next 12-18 months.
"Myntra forayed into the premium wear segment in November 2014 with brands such as Desigual, New Look, Furla, Mango, Superdry, Emporio Armani, L'occitane, to name a few, and is now rapidly expanding this segment," Myntra said in a statement.
As part of the tie-up with DKNY, the app-only Myntra will offer about 150 styles of products ranging from apparel, handbags, shoes, wallets, in addition to watches that were launched earlier.
The products are priced between Rs 5,800 and Rs 39,000.
According to a recent study by Assocham, Indian shoppers are likely to spend $ 35 billion on online luxury brands by 2016, making India a promising growth platform for the luxury industry.
Myntra has partnered with over 2,000 fashion and lifestyle brands in India like Nike, Adidas, Arrow, Mango, Jealous 21, Diesel, Harley Davidson, Ferrari, FabIndia and Biba. (SH)
The Flipkart-owned company, which currently gets about 5 per cent of its revenues from international brands, said it expects international brands to account for 15 per cent of its revenues in the next 12-18 months.
"Myntra forayed into the premium wear segment in November 2014 with brands such as Desigual, New Look, Furla, Mango, Superdry, Emporio Armani, L'occitane, to name a few, and is now rapidly expanding this segment," Myntra said in a statement.
As part of the tie-up with DKNY, the app-only Myntra will offer about 150 styles of products ranging from apparel, handbags, shoes, wallets, in addition to watches that were launched earlier.
The products are priced between Rs 5,800 and Rs 39,000.
According to a recent study by Assocham, Indian shoppers are likely to spend $ 35 billion on online luxury brands by 2016, making India a promising growth platform for the luxury industry.
Myntra has partnered with over 2,000 fashion and lifestyle brands in India like Nike, Adidas, Arrow, Mango, Jealous 21, Diesel, Harley Davidson, Ferrari, FabIndia and Biba. (SH)
Fibre2Fashion News Desk - India
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Jason Kent
British Textile Machinery Association (BTMA)
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