Myntra investing on brands

Myntra plans to make growth-linked equity investments in 15 emerging Indian fashion brands that are part of its brand accelerator program, say media reports. The program seeks to support small domestic fashion brands in every aspect of their business and help them become big national brands, both online and offline, in three or five years.

Fashion e-tailer Myntra is owned by Flipkart. Myntra aims at driving 10 per cent of its platform revenue through the accelerator brands by 2020. The brands are: 2GO, AKS, Pretty Secrets, Carlton London, Chemistry, Sassafras, Vishudh, Tokyo Talkies, Highlander, Locomotive, Ecko Unltd, Tangerine, Tomatillo and Blush by Pretty Secrets. Each has offerings in specific categories such as athleisure, men’s formal wear, women’s ethnic wear and lingerie.

Ethnic women’s brand AKS has grown almost 500 per cent year on year to reach the top three in its category. It has acquired two lakh customers. Men’s casual wear brand Highlander has reached the top five in the category, growing at 200 per cent year on year, acquiring 80,000 new customers.

Myntra is investing in the brands not for any financial returns but to engage with them over the long term. It will continue to onboard five or ten more brands in women’s western wear, men’s formal wear and sportswear.