BENGALURU: Flipkart-owned fashion marketplace Myntra said it is launching trending Work-From-Home wear from its private brands in the Middle-East market capitalizing on the consistent need of shoppers amid the Covid-19 pandemic.
The fashion etailer has entered into a strategic partnership with UAE’s ecommerce platforms, Noon and Namshi, to sell athleisure and casual wear to shoppers in the region which is said to have high internet penetration and growing popularity of online shopping due to the coronavirus outbreak.
“The Covid-19 outbreak has made the needs of consumers consistent across the globe. The pandemic has expedited a lot of our aspirations. We felt it was the right time to take leisure wear, T-shirts, athleisure wear from our in-house brands overseas,” Amar Nagaram, head of Myntra, told ET.
Both Noon and Namshi are part of the Emaar group, a conglomerate located in the UAE. Noon is a horizontal ecommerce platform with products across categories, and Namshi is a vertical platform, focussing primarily on fashion in the premium segment.
On Noon, Myntra has listed brands Dressberry, Mast & Harbour, Moda Rapido, Here & Now, Sztori and HRX. Namshi will list Wrogn alongside Dressberry, Mast & Harbour and HRX over the next few weeks. Myntra will be putting up 500 styles on each platform. Both the companies will work closely to track new consumer needs in order to tweak styles and collections for the market.
This move comes a year after Myntra conducted a short-term pilot with Walmart Canada to test the international waters. As part of the pilot, consumer research data highlighted the Middle East and South East Asia as top markets with high internet penetration, densely populated shoppers of Indian origin and matching fashion choice.
“Middle-East is a lucrative market and expected to grow 3X in the next 3-4 years, given the region’s high internet penetration and the pandemic which has driven ecommerce usage. Noon and Namshi have a significant amount of fashion consuming audience on their platforms making it an interesting proposition for both the parties. Our value brands will give us an edge over other brands in the region,” said Nagaram.
According to the marketplace, the in-house brands are expected to clock 5X growth in the next two years.
“Ecommerce is a $8 billion market, expected to grow at a strong rate to reach about $28.5 billion in the next three years. As the market share grows, the share of these platforms will also grow,” he added.
Currently, Myntra is in active talks with similar companies in South-East Asia and Europe. Partnerships with online platforms in these markets are expected to fructify in the next 2-3 months.