- Shubhangi Bidwe |
Walmart platforms like Myntra, Jabong and Flipkart will now retail private labels of retail chain Lifestyle. These platforms boast of a combined consumer base of 160 million. Lifestyle is looking at diversifying its omni-channel presence in the market. Lifestyle’s online portal accounts for only two to three per cent of its business, while the Flipkart group holds a 77 per cent market share in online fashion with a rapid growth in Tier II and III cities.
Lifestyle opted for this move after research showed that new customers prefer to come to fashion first through online and then offline. While Lifestyle’s current online and offline distribution is to 44 cities in India. With this partnership Lifestyle expects to leapfrog into the e-commerce space and hit double-digit growth. Lifestyle is looking to have at least a 15 per cent contribution from e-commerce to its business over the next five years.
Shoppers Stop already has a similar partnership with Amazon, which also owns about five per cent in India’s oldest multi-brand outlet. Future Group launched its private labels ranging from Koryo in electronics to Lee Cooper, Converse and FBB in apparel on Amazon’s marketplace earlier this year.