Myntra to sell its in-house brands on other sites for growth

Myntra has aggressive growth plans for its in-house brands, as it will now sell its 10 in-house apparel brands on other sites. Sighting consumer interest in the fashion category, the company decided to make this move. Sales of clothes and accessories on e-commerce platforms witnessed faster growth than other categories of goods in the past year. The aim is to partner with other leading platforms and make its in-house fashion labels available for customers from April this year. The company is also eyeing the possibility of setting up standalone stores of its private labels at high-end malls where buyers can try out dresses before shopping for them online.

Online fashion and footwear sales accounted for about Rs 3,150 crores, or 1 percent of the 43 billion dollars (over Rs 2,66,000 crores) worth of total purchases in the country in 2013, according to Accel India, which has invested in e-commerce startups such as Flipkart and Myntra.

A recent report by Google-Forrester said India will have 100 million online shoppers by 2016 and India's e-tailing market will touch 15 billion dollars (about Rs 92,600 crores) by then, up from just about 3 billion dollars (over Rs 18,500 crores) now even as the customer base is expected to grow to 100 million by 2016 from the current 35 million.