E-commerce market leader Flipkart is leaving no stone unturned in its efforts for profitability. Barely two weeks after it launched Divastri—a private label in women’s ethnic wear—the marketplace on Monday announced the launch of its first fashion private label for men—Metronaut.
Flipkart claims that the contemporary urban fashion line will have over 300 styles in men’s clothing and accessories.
Indian online market for fashion is estimated to be $12-14 billion in size by 2020 from the current $4 billion, according to a study by Boston Consulting Group (BCG) and Facebook.
Flipkart has, in the past three years, focused on this category to ensure that it remains the market leader. In 2014, it acquired Myntra, and in 2016, Jabong. The alliance now claims to have 70 percent of market share in online fashion.
In a press release, Rishi Vasudev, Head, Flipkart Fashion, said:
“Men’s fashion is one of our fastest-growing categories, and we are one of the dominant players with over 40 percent market share. With the launch of Metronaut, our objective is to expand our men's fashion portfolio and offer optimum quality products at competitive price points to our male consumers. Metronaut is expected to help us grow Flipkart’s men clothing business further and enable us to create stickiness for our large male shopper base”.
The press release added that analysis of purchase and returns behaviour of men shoppers have found a drastic gap in the demand of consumers compared to goods available in the market. With this launch, Flipkart aims to solve quality issues and offer affordable price points, with great styles, perfect fit, and longevity.
Private label is the only factor that can assure profit for marketplaces. Flipkart claims that every Metronaut product is tested for tear-resistant fabric, lifetime guarantee on collar and cuff stiffness, shrink resistance, zero colour loss, pill resistant, ranges with anti-microbial finish, etc along with validation by international quality control agencies.
According to the statement, Metronaut has been designed based on the observation of fashion forecasting authorities, international market surveys and deep consumer and market research on the Indian audience.