Myntra partners with Emaar’s e-commerce portals to enter middle east market1 min read . Updated: 29 Jul 2020, 05:17 PM IST
- With the entry of Myntra Fashion Brands into the middle east region, the company is mainly betting on casual wear categories, which form a major portion of the business in India
BENGALURU : Flipkart-owned fashion marketplace Myntra has partnered with UAE-based conglomerate Emaar Group’s e-commerce platforms Noon and Namshi to enter the middle east market, marking the homegrown startup's international foray.
It has launched Myntra Fashion Brands, which will offer a curated selection of its private labels on both these platforms, with a focus on casual and leisure wear.
Amar Nagaram, CEO, Myntra said in an interview that it had piloted wit Walmart Inc. in Canada last year to understand the international market and what consumers want.
“The top regions identified for our international expansion were Middle East and South-east Asia, and we have been in talks with partners. While the immediate focus would be on customers of Indian origin in overseas markets, we have the capability of going beyond that," Nagaram said.
With the entry of Myntra Fashion Brands into the middle east region, the company is mainly betting on casual wear categories, which form a major portion of the business in India. The covid-19 pandemic-led lockdown which resulted in the work-from-home culture has also prompted Myntra to ship overseas its leisure wear, T-shirts, athleisure wear from in-house brands.
While Noon is a horizontal e-commerce platform with offerings in multiple categories, Namshi is a vertical platform, focusing primarily on premium fashion.
The brands that have been launched on Noon are Dressberry, Mast & Harbour, ModaRapido, Here & Now, Sztori and HRX, while Namshi will list Dressberry, Mast & Harbour, Wrogn and HRX, over the next few weeks.
“…Our research identified potential channels across the globe offering significant opportunities in the online fashion segment. 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. We are looking forward to a 5X growth from the partnership over the next two years," Nagaram said.
Myntra will continue to explore new markets in order to build brands of international repute and expand its base of global consumers.
In June around 3.5 million customers bought 10 million products during Myntra’s four-day online sale, in the first big e-commerce sale event this year.
The ‘End of Reason Sale’ saw shoppers across the country place about 4 million orders across multiple categories, on the online platform.