Myntra to sell Forever21 products on app only channel

India's top online fashion retailer Myntra has signed an exclusive deal with Forever 21 to sell the American fashion retailer's products on its app-only platform. The collection will be launched on Thursday.

"With these launches we are able to get 10x, 20x growth to the brands. The run rate is higher which is also to do with the fact that our consumer base is maturing," said Ananth Narayanan, CEO of Myntra, owned by Flipkart.

Forever 21 operates in India through a 51:49 joint venture with DLF Brands. According to a recent report by PwC, online retailing in India grew 56% a year between 2009 and 2014. It is expected to swell to $6 billion, or about Rs 37,200 crore, in 2015 from $3.5 billion last year.

"We have about four to six new launches that are going to come our way, all through the course of next year. Several of those will be exclusive," Narayanan said.

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