Initializing...

Top Retail Brands

Myntra aims at taking offline retail with its Private Label Brands

Roadster, one of the top selling brands of Myntra amongst a dozen of its private label products (PLP) has clocked a massive sales of 320 crore this year.

Tags: Myntra, mCommerce, Roadster, PLP, Private Label Product, Fashion, Flipkart

BY Indian Retailer Bureau  |  Dec 21, 2015  |  comments ( 0 )  | 
Myntra aims at taking offline retail with its Private Label Brands

At the time when many eCommerce players are running under the pressure to cut down their cash burns and turn in profits, Myntra, a mobile app-based fashion retailer is betting big on its in-house brands in order to scale its growth.
Roadster, one of the top selling brands of Myntra amongst a dozen of its private label products (PLP) has clocked massive sales this year. The brand has nabbed 320 crore so far and aims to become 650 crore brand by the end of 2016. Company’s other PLP such as HRX, All About You and Dressberry are among highest selling private band after Roadster.
Myntra, which was acquired by Flipkart last year, clocks over 700 crore sales from all of its private label products and claims to close the year at $550 million in gross merchandise value (GMV).
The private label strategy adopted by the Bengaluru-based app puts it into direct competition with traditional brick-and-mortar retailers such as Shoppers Stop, Lifestyle, Future Group and Spencer’s. eRetail majors such as Flipkart, Jabong etc. do not have such robust private label strategy.
Commenting on the same, Ananth Narayanan, CEO, Myntra said,  “the firm is expecting to rake in as much as Rs 2,000 crore from its private brands at the end of 2016, a timeline by when Myntra plans to hit $1 billion (Rs 6,500 crore) in GMV.”
Myntra's offline rival Shoppers Stop currently garner over 17% from its leading private brands like Stop and Life and it aims to take the same to 20% by 2017.





Related Articles

  • Appointments & Recognitions
    Myntra appoints Dipanjan
    n Myntra, Basu will be looking after the finance of the company and with his expert knowledge;
  • Ecommerce
    Forget the Website, just
    Whether it's using a tablet in a brick-and-mortar store or enabling sales through a mobile website,
  • News Feature
    Myntra eyes 100 stores in
    While Myntra has seen big success online, Narayanan maintained that there has been overwhelming
  • Trends
    Label your merchandise
    Private labels enhance brand identity
  • Fashion & Accessories
    aLL-The Plus Size store
    The creations showcased on runways are meant for the everyday consumers who seek high-fashion
  • Food & Grocery
    Flipkart launches grocery
    As grocery delivery has been the talk of the town lately, eCommerce giant Flipkart has too entered

Comments

Rating  

Please add your comment:

Not readable? Change text.

Enter the characters as seen on the image (case insensitive)

Notify me of followup comments via e-mail

Subscribe for daily newsletter