Myntra will invite applications from fashion talent interested in creating a brand, and select a few to be part of the program every year. The selected participants will work with Myntra for a year and will be taken through a structured process of creating a brand and retailing them.

After the program, the participants in the incubator will continue to own the brands they create. Myntra will also look to invest up to a million dollars in the best performing brands.

Explaining the objective behind setting up a fashion incubator - Abhishek Verma - Business Head (Fashion Brands) at Myntra told fibre2fashion, “The idea is to create sizeable indigenous fashion brands by mentoring young entrepreneurs who do not have access to capital, supply chain and distribution platforms.

“We want these budding designers to operate as independent entities in the long-term. We are roping in mentors who are from the fashion fraternity, entrepreneurs and successful names from the business of fashion to be part of the program. This will help accelerate the process of creating a brand for the emerging fashion designers”.

Myntra has been consistently doubling revenues and its goal is to achieve a gross merchandise volume (GMV) of one billion US dollars in the next two years.

Fibre2fashion News Desk - India