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Tag: Myntra

  • ZALORA nabs Myntra CMO Gunjan Soni as new CEO

    ZALORA nabs Myntra CMO Gunjan Soni as new CEO

    Global Fashion Group has chosen the head of Jabong India as the new Zalora CEO. Gunjan Soni will over the helm of the Southeast Asian e-commerce portal early next year after she completes her combined tenure as chief marketing officer with India’s largest fashion e-commerce business, Myntra, and the Jabong role.

    Soni has more than 13 years of leadership experience in marketing, strategy and operations and a passion for building new-age consumer businesses.

    “It is truly a huge privilege to lead Zalora, which is already the leading fashion and sports destination, at a time when Southeast Asian markets are poised for increasing fashion and e-commerce consumption,” she said in a statement.

    “When I see Zalora, I see a company with limitless potential and ability to shape the future of fashion commerce in one of the most exciting markets globally. This makes it both exciting and humbling to take on this role.”

    At Myntra, Soni was instrumental in positioning the brand as a leader in fashion and lifestyle and leading the turnaround of the Jabong business post acquisition.

    Prior to joining Myntra, the next Zalora CEO was executive VP for strategy & CEO office with Star India. She also spent a large part of her career at McKinsey where she was a partner, working across multiple consumer sectors and geographies including the UK, Singapore and Bhutan.

    She is a recognised leader in business having featured in Spencer Stuart-Economic Times young leaders 40 under 40 list, Fortune India 40 under 40, and named one of the most influential women leaders in media.

    Patrick Schmidt, Co-CEO of Global Fashion Group, Soni’s experience in leading operations, strategy and marketing in fashion e-commerce and her strong leadership skills will be instrumental in strengthening Zalora’s position as market leader in Southeast Asia’s e-fashion space.

    “She has a deep and broad understanding of the complexities of e-commerce and has contributed to building one of the world’s biggest fashion e-commerce companies.”

  • Myntra launches loyalty program, ‘Myntra Insider’

    Myntra launches loyalty program, ‘Myntra Insider’

    Myntra has announced the launch of its loyalty program, Myntra Insider. A first of its kind in the country, the program is a comprehensive package, designed to strengthen engagement with its users to drive stickiness on the platform.

    This open-to-all program allows Myntra to democratise fashion for every registered user through unique rewards and experiences.

    The Myntra Insider program hinges on three pillars – it rewards members for purchases as well as engagement such as browsing new categories, sharing feedback, wish listing etc. It offers a host of exciting perks across fashion and lifestyle, with offers from sellers on Myntra and lifestyle partners such as Zomato, TataSky, BigBasket, PhonePe, BookMyShow, EROS NOW, Zoom Car, Gaana to name a few.

    Myntra Insiders will be able to avail special privileges such as early access to sales, priority customer support, special birthday offers and more, depending on their Insider level.

    Based on their level of fandom, users are categorized to be either, Insider, Select, Elite or Icon, with each level offering greater benefits and privileges over the previous. The program will also offer unique experiences to its users such as a session by a stylist, modelling on Myntra content/platform and co-creating designs and styles for Myntra.

    Speaking about the program, Ananth Narayanan, CEO, Myntra-Jabong, said, “Myntra Insider is our endeavour to engage deeply with our users and celebrate our fans. We aim to encourage casually involved users to interact and indulge with Myntra and grow in their journeys to become our icons. The uniqueness of our program is two fold – our uniquely crafted experiences for our biggest fans and gamification of engagement through personalisation and inter-activity. We aspire to have 10 million Myntra Insiders signed up over the next 12 months. We want to make visiting Myntra a habit for our users and aim to get our fans to visit us over 100 days a year and make a purchase every month.”

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  • Myntra announces the arrival of the 4th edition of ‘Myntra Beauty Edit’

    Myntra announces the arrival of the 4th edition of ‘Myntra Beauty Edit’

    Myntra is hosting the 4th edition of ‘Myntra Beauty Edit’, the most awaited carnival for cosmetics and beauty products online, from September 4-5. The fourth edition of the two-day mega festival is being complemented with over 30 new brand launches on Myntra’s platform.

    The theme for the current edition of Myntra Beauty Edit is #NeverEnough, which is in line with the common notion of beauty and personal care products never being enough for men or women. The festival offers the perfect opportunity for all to pamper themselves by shopping for such products, at great offers. With over 15000 assortments and styles and irresistible offers on over top 280 brands,

    Miss Claire, Nova, Dermalogica, Juicy Chemistry, Ciate London, GK Hair, Swiss Image, Mauboussin, Faconnnable, Jeanne en Provence, Nissan and Dr. Scheller, are some of the international brands being launched during the event. Shoppers can avail deals that change every four hours during the festival period and will also receive beauty coupons on every purchase.

    Myntra has also launched a 30 second film to promote the festival. The melodic ad showcases a range of beauty products across makeup, skincare, hair care and men’s grooming, accentuating the various options available for all to look special.

    In the video, viewers witness characters trying out various beauty and grooming options to suit their tastes and preferences, while also revealing the irresistible offers, new brand launches and style options during the two day carnival. The film captures the essence of the core message in a very lively and exciting fashion.

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  • India’s ecommerce Myntra plans to go offline

    India’s ecommerce Myntra plans to go offline

    Indian online retailer Myntra is planning a network of offline stores.

    The fashion subsidiary of Flipkart, sees physical stores as an opportunity to build trust and awareness in the company’s online offer an to engage with existing customers.

    According to a report, Myntra plans to open as many as 100 offline stores selling cosmetics over the next two years. The first is likely to open in Bengaluru, within the next six months.

    Myntra-Jabong CEO Ananth Narayanan says the company will recruit franchisees to run the beauty and cosmetics stores.

    Bengaluru has been chosen for the first store because it is the city in which Myntra is headquartered. Sites in shopping centres and high street locations are being sought in large Indian cities.

  • When Forever 21 join India’s Jabong

    When Forever 21 join India’s Jabong

    Indian fashion portal Jabong has added American fashion brand Forever 21 to its product portfolio. It definitely will give another option for India’s shopper to check the collections of Forever 21.

    A selection of goods including play-in tops, dresses, t-shirts, cosmetics, intimates and shoes will go online on Jabong, priced from Rs.499 to Rs.2400 (US$7.50 to $37).

    Jabong has introduced 20 new fashion brands this month and says it will add a further 15 before March 31. These include New Era Caps, WROGN, Mothercare, Roadster, Cover Story, AAY, Zivame and Mast and Harbor. Jabong now has approximately 2000 brands in its product portfolio, out of which 50 brands have been launched in 2017 alone. Its portfolio also includes Topshop, Topman, Dorothy Perkins, Missguided and Next.

    “At Jabong, we continuously strive to offer the best of global fashion brands to our shoppers. Forever 21 is a pioneer and global leader in the fast fashion category and its addition will strengthen the comprehensive line of finely curated international portfolio on Jabong,” said Gunjan Soni, head of Jabong.

    Abhinav Zutshi, India business head of Forever 21, said the combined strengths of Jabong and Myntra will give the brand exposure to a major share of India’s online fashion retail market.

    “This complements our aggressive offline strategy and we are excited to herald a long association with Jabong,” he said.

    Jabong is a multi-brand fashion e-store offering some 350,000 products across footwear, apparel, jewellery and accessories.

  • Esprit India to sell on Myntra

    Esprit India to sell on Myntra

    Esprit India has secured an exclusive online partnership with online fashion retailer Myntra.

    Esprit will sell its men’s and women’s casual wear range on the platform, and will launch its latest collection exclusively online on Myntra. The all new winter wear collection by Esprit aspires to revive 90s fashion and sports luxe in a selection of 405 different styles.

    Gunjan Soni, CMO and head of international brands business with Myntra, says Esprit is a truly international fashion brand with global appeal and a brand ethos that exemplifies comfortable fashion.

    “It gives us great pride to forge an exclusive association with Esprit as part of our focused endeavor in making Myntra the de-facto destination for International fashion in India.”

    Guillaume Thery, GM Asia-Pacific with Esprit, added: “Esprit has built strong brand equity among shoppers in India over the years. With the exponential growth of the online shopping medium and the expansive market of India, it was imperative that we work with the segment leader in taking our brand development to the next level. Myntra was the obvious partner of choice given their understanding of the online fashion landscape and their ability to partner and develop strategies that complement our business imperatives for the region.”

    Myntra has emerged as India’s leading fashion e-tailer and home to the largest selection of international premium fashion brands, including Nike, Adidas, Puma, Levis, Wrangler, Arrow, Jealous 21, Diesel, CAT, Harley Davidson, Ferrari, Timberland, US Polo, FabIndia and Biba.

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  • Toms and another global brands for Myntra

    Toms and another global brands for Myntra

    Flipkart-owned Indian online fashion company Myntra has added two international brands to its platform, Toms and Meters/Bonwe.

    This makes Myntra home to more than 30 global brands, says its head of international brands business, Gunjan Soni.

    US-based Toms is known for its footwear range while Chinese brand Meters/Bonwe focuses on fashion-forward styles for young men and women.

    “Our partnership with Myntra will allow us to cater to the dynamic fashion choices of millennials in India who want to dress well with an individual style without the hassles of store shopping,” says Meters/Bonwe spokesperson Jay Zhou.

    Toms MD Helen Thompson says Myntra will help the brand start its commercial relationship in India. “We have already been working to produce locally as well as give shoes and restore sight through Toms’ partnerships.”

    Online retail, which is being increasingly adopted by Indian shoppers, is expected to account for 3 per cent of total retail sales by 2020, according to a PWC report.

  • Flipkart trumps rivals in Jabong bid

    Flipkart trumps rivals in Jabong bid

    A year ago, Jabong’s founders turned down $700 million plus from Amazon; this week they sold for $70 million to Flipkart’s Myntra.

    Indian eCommerce site Flipkart has sealed a shock deal to acquire Jabong, the nation’s third largest online fashion retailer.

    The news came just a day after rival bidder Snapdeal presumed it had won the battle.

    Flipkart’s success is expected to provide a crucial advantage in its battle to ‘own’ the clothing eCommerce space, giving it an advantage of scale and local knowledge in fighting off US-based Amazon.

    Flipkart’s subsidiary Myntra will reportedly pay US$70 million for the troubled Jabong business. That’s a fraction of an offer from Amazon in early 2015 which valued Jabong at between $700 million and $1 billion.

    “The acquisition…. holds an important lesson to all investors and entrepreneurs,” observed Harsimran Julka of Tech in Asia. “Exit when you don’t want to sell.”

    Jabong is one a growing group of failing Southeast Asian eCommerce websites owned by Germany’s Rocket Internet which has witnessed the value of its businesses shrink dramatically over the last 12 to 18 months. It has sold off Foodpanda, Zalora and Lazada websites in several regional markets in a bid to stem growing losses.

    “The acquisition of Jabong is a natural step in our journey to be India’s largest fashion platform,” said Ananth Narayanan, CEO of Myntra. “We see significant synergies between the two companies especially on brand relationships and consumer experience.”

    Julka wrote that in buying Jabong, Myntra will acquire one of the best sourcing systems, catalogs, and loyal customer bases, especially amongst women buyers, within India.

    “With Myntra’s app-only experiment going kaput last year, the company lost a lot of traction in India.

    “The buyout will also give a boost to profitability of Flipkart, as the fashion category is the most profitable of all eCommerce segments, with gross margins as high as 80 per cent.”

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  • ABFRL takes over Forever 21 India

    ABFRL takes over Forever 21 India

    Aditya Birla Fashion and Retail (ABFRL) will acquire US-based clothing brand Forever 21 India from existing local franchise partner Diana Retail.

    The Rs.175-crore (US$26 million) transaction involves a business transfer agreement, not share transfer, says ABFRL in a filing with the Bombay Stock Exchange.

    The Forever 21 business will become part of ABFRL’s Madura Fashion & Lifestyle division.

    ABFRL was formed after the consolidation of the branded apparel businesses of the Mumbai-based Aditya Birla Group, one of India’s largest conglomerates. It has a presence in 375 Indian cities.

    Forever 21 has a network of more than 700 stores worldwide.

    “With the acquisition of Forever 21, we aim to create a strong foothold in the womenswear business in the western-wear segment, which is growing at 20 per cent,” ABFRL MD Pranab Barua said in May when the company announced it would enter into a deal to acquire Forever 21’s online and offline rights for the Indian market.

    In March, it is reported that Flipkart’s online fashion store Myntra, which sells Forever 21 products, was seeking to take over management of the US brand’s India  brick-and-mortar stores.

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  • Adidas Group India plans shopping app

    Adidas Group India plans shopping app

    Sportshoe brand Adidas Group India is planning to launch a shopping app by December, primarily to drive customer engagement through content and loyalty programs, as well as boost online sales.

    It is a significant move as it indicates increasing fragmentation in online fashion shopping, as most brands do not have independent shopping apps, reports Live Mint.

    With its app, Adidas is aiming to strengthen its online presence as brands and offline retailers adopt omnichannel strategies to offer customers access to products across physical stores via their mobile phones and websites.

    “Our engagement with consumers does not end in incremental sales,” says Adidas Group India’s senior eCommerce director Abhishek Lal. “Shopping is just a small fraction. We are planning an app and rewards program to increase engagement with the brand.”

    Separate apps will be rolled out for Adidas and its subsidiary Reebok India.

    Adidas is currently available on online stores such as Amazon India, Flipkart and Myntra, and online channels contribute 10 to 15 per cent of the company’s overall sales, says Lal.

    Other brands are already building online stores to reduce their dependence on the likes of Amazon India and Myntra. Leading the way is Madura Garments with two online stores, Abof and Trendin. Its brands include Allen Solly, Louis Philippe and Peter England.

    By launching an app, Adidas is also trying to tap into social commerce by offering content and creating communities of fashion followers.

    “Social commerce is complementary to pure play eCommerce, and also the way forward for us,” says Lal. “There is no history of a single-brand app yet, so it is hard to assess what the outcome will be.”

    Adidas has also expanded its omnichannel presence since its launch early last year. Adidas plans to bring about 400 stores under the omni-channel loop by December. Those already involved in the strategy have had their revenue grow about 3 to 5 per cent.

    “There has been some impact on revenue because of omni-channel,” says Lal. “A lot of sales were lost because sizes were not available in stores. There was also a lot of cross-selling. We have a brand called Neo which is available only online, so a lot of people walked into the stores and bought Neo on the tab. That is an upsell opportunity.”

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  • Myntra India pins hopes on sportswear

    Myntra India pins hopes on sportswear

    Adding more products and international brands to its portfolio, online fashion retailer Myntra India aims to grow its outdoor and sports range revenue by 20 per cent over the next 15 months.

    Owned by Flipkart, the company earns about 15 per cent of its revenue from sportswear and has just introduced apparel and footwear from US brand The North Face (TNF), reports The Times of India.

    “The North Face is an important addition to our list of international exclusive brands,” says Myntra head of eCommerce Prasad Kompalli.

    He says the outdoor category is expected to double its growth in 2016-17.

    TNF’s range went on sale this month. Part of VF Inc, it was founded in California in 1966 and specialises in outerwear, fleece and coats. It competes directly with Columbia Sportswear, which entered India in December 2013.

    VF Asia executive Bruno Feltracco says India offers a huge opportunity as a market.

    “Our experience in China helped us decide to first go online and understand the market. There is nothing that prevents us to go offline after we reach a certain stage,” he says. “We already have some of our other brands here doing really well.”

    VF Asia’s other brands include Lee, Wrangler and Nautica.

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