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Myntra shortlists 11 Myntra Fashion Incubator candidates
16
Dec '14
The Indian fashion and casual lifestyle products selling e-commerce site Myntra has recently revealed the 11 shortlisted names for its Myntra Fashion Incubator (MFI) program, a mentorship and support initiative to promote young fashion entrepreneurs and designers.

The shortlisted names were chosen from a list of 30 applicants, who were asked to present their creative and scalable business ideas along with implementation strategies to transform into sustainable business ventures through the program.

The applicants also presented live demonstrations of their sample designs before a jury of renowned designers and experts from the fashion and retail industry like Wendell Rodricks, Rina Dhaka, Rohit Gandhi and Rahul Khanna, and Paras Bairoliya.

Talking about MFI, Abhishek Verma, the senior VPof Myntra Fashion Brands, said, “We have been excited about this initiative since day one, and now as this program is brought to life with these finalists, we believe it is going to revolutionise the fashion industry and set a new hallmark.”

“At Myntra, we value and encourage the entrepreneurial spirit and therefore with initiatives like MFI, we aim to provide support to young talent and empower them to create sizeable indigenous fashion brands in the long-run. Through this initiative, we will also strengthen our commitment of building original, aspirational brands designed to be at par with latest global trends,” he states.

As part of the one year Designer In Residence (DIR) Program, the online retailer will provide the selected candidates necessary design and work infrastructure, capital support and mentorship from a team of acclaimed designers. The DIR Program would cover essentials like branding, consumer behaviour, product design and development, pricing, inventory planning, retailing and financial planning among others.

The first batch of the incubator program will occupy the design space inside the Myntra campus by 15th January 2015 and work full-time on their brand. MFI will also provide these candidates an opportunity to showcase their brands in various platforms as well as to be retailed on Myntra.com. After completing one season, they can also pitch their fashion designs to MFI advisory board for investments to scale their business.

Founded in 2007, headquartered in Bangalore, Karnataka, Myntra offers products from over 700 leading brands including Nike, Adidas, Puma, Levis, Arrow, CAT, Timberland, FabIndia and Biba. The platform receives over 50 million visits every month and services over 9,000 pin codes across the country.

Myntra, of late, has strengthened its private brands portfolio and entered into exclusive tie-ups with designer and international brands. The company has furthered its vision to create great fashion experiences for consumers and help them look good with services like the Style Helpline, ‘LookGood’ blog and the ‘Customer Wow’. (PB)

Fibre2fashion News Desk - India


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