Myntra banks on private labels to boost growth

Fashion and lifestyle e-tailer Myntra is targeting 35 percent of its revenue from its private labels over the next 12 to 18 months. Currently, Myntra offers 11 of its own private brands, which contribute to 20 percent of the overall revenue. Myntra has built a strong portfolio of brands catering to men, women and children. These are: Roadster, DressBerry, Anouk, Mast & Harbour, Invictus, Yellow Kite, ETC, Wrogn, Kook N Keech, HRX by Hrithik Roshan and All About You. Roadster is a jeanswear brand with a portfolio of 5,000 styles a year. All About You is Deepika Padukone’s premium women’s line launched two months ago.

Besides the private labels, Myntra is also experimenting with a technology insights based, in-house brand called Moda Rapido, which was created and launched six months ago. New fashion collections are launched under the Moda Rapido brand every four weeks.

As e-commerce firms look to achieve profitable growth, the focus on high-margin private brands will continue to be a priority. By 2020, the online fashion retail market is expected to touch 35 billion dollars (Rs 2,34,000 crores), contributing 35 percent of the total online retail revenue of 100 billion dollars (Rs 6,6 lakh crores) generated in India.