Myntra launches luxury category store on its app
, the lifestyle fashion marketplace and part of the Flipkart Group, has unveiled a dedicated store for the luxury category – Myntra Luxe — on its app.
According to a statement from Myntra, this segment offers luxury connoisseurs access to a curated collection of luxury brands both established and new entities.
As part of its foray into this segment, Myntra has partnered with The Collective — a multi-brand luxury lifestyle retailer that collaborates with the world’s luxury apparel and accessory brands.
The Collective brings with it a curated collection of brands such as Polo Ralph Lauren, Ted Baker, Hackett London, Hugo, and Fred Perry to Myntra Luxe. The brand assortment also includes Bvlgari, Movado Tissot, and many other leading brands.
The leading categories of products in this segment include apparel, accessories, footwear, beauty and watches. Myntra will offer a wide collection of 65 luxury brands through the new Luxe store and will continue to scale the portfolio further.
On the launch of Myntra Luxe, Sharon Pais, Chief Business Officer, Myntra, said, “Myntra Luxe brings leading global luxury brands within easy reach of a growing cohort of shoppers looking up to this category in India today. We have witnessed a sharp rise in demand for luxury brands on our platform during the course of the pandemic, prompting us to create a dedicated offering for the same and enable luxury customers to enjoy a distinguished experience.”
According to this fashion marketplace, Myntra Luxe pivots around three major propositions to build salience ‒ a great selection of brands and styles, personalised shopping experience, and engaging content, aiding strong discovery for shoppers.
Amit Pande, Brand Head at The Collective, said, “Ecommerce at The Collective has displayed very strong momentum. Our partnership with Myntra will allow us to extend our reach and bring a taste of The Collective experience to Myntra’s top customers.”
According to data collected by Forrester, the Indian luxury ecommerce market is expected to reach $1.3 billion by 2023, growing at a CAGR of 29 per cent, one of the highest in the world.