Myntra promotes India as golden market for global labels
Flipkart's fashion focused e-commerce platform Myntra is confident that India is emerging as a high-potential market for international brands and a growth hub for Indian labels. The business is looking to global markets for growth and has highlighted India's evolving role in the global fashion landscape.
'With the launch of Myntra Global in Singapore, we're also laying the foundation for our global foray, with a long-term aspiration to serve the Indian diaspora beyond India,' said Myntra's chief executive officer Nandita Sinha at Singapore-based global retail conference NRF 25, the Press Trust of India reported. Since its debut in Singapore on May 19, Myntra has observed growing engagement, strong average order values, and early signs of customer loyalty, according to the business.
Targeting Singapore's 6.5 lakh-strong Indian diaspora, Sinha noted that even before the launch, the Indian website saw organic traffic from around 30,000 Singapore-based users. 'The new-age insurgent brands are tailoring their value proposition,' said Sinha, highlighting India's increasing strategic significance for fashion.
Back home, Sinha said the underpenetrated e-fashion market, currently at under 15%, offers significant room for growth. With a strong focus on Gen Z consumers and rising demand for personalised, seamless experiences, Myntra aims to cement its position as a leading destination for beauty, fashion, and lifestyle, both in India and abroad, India Retailing reported.
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