Myntra goes global with launch of fashion brands in Middle East
Myntra has formed partnerships with two regional ecommerce marketplaces - Noon and Namshi - and is expecting 5x growth from Middle East region in the next two years.
Myntra, a leading fashion and apparel marketplace and part of the Group, is going international with the launch of its fashion brands in the Middle East through partnerships.
Myntra has partnered with Middle East based ecommerce platforms – Noon and Namshi - to launch its fashion brands, a statement from the company said.
Both Noon and Namshi are part of the Emaar group, a conglomerate located in the UAE. Noon is a horizontal e-commerce platform with offerings in multiple categories, while Namshi is a vertical platform, focussing primarily on fashion in the premium segment.
Myntra CEO Amar Nagaram
The brands that have been launched on Noon are Dressberry, Mast & Harbour, Moda Rapido, Here & Now, Sztori and HRX, while Namshi will list Dressberry, Mast & Harbour, Wrogn and HRX, over the next few weeks.
According to Myntra, these brands and styles were chosen based on regional trends and consumer preferences. Over 75 percent of the styles being exported by Myntra to these markets are developed in India.
On the international expansion, Amar Nagaram, CEO, Myntra, said, “This is a significant milestone in our journey so far and marks the next phase of growth for Myntra. Our research identified high levels of potential channels across the globe offering significant opportunities in the online fashion segment.”
He further said, “Amongst these, the Middle East stood out in terms of the audience’s demographic profile, extremely high mobile penetration, the similarity in fashion preferences and a large population of Indian origin.”
Myntra is expecting a 5x growth from the partnership over the next two years and according to the CEO it will continue to explore newer markets.
The entry of Myntra Fashion Brands into the Middle East region is seeing the company betting largely on the casual wear categories, which form a major portion of the business in its domestic market.
Edited by Javed Gaihlot
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