Latest news with #NRF25
Time of India
12 hours ago
- Business
- Time of India
India is key strategic market for global brands, says Myntra CEO
HighlightsNandita Sinha, Chief Executive Officer of Myntra, emphasized the growing strategic importance of the Indian market, highlighting the launch of Myntra Global in Singapore to serve the Indian diaspora. Since the launch of Myntra Global on May 19, the company has experienced increased engagement, including a notable average order value and a promising percentage of returning customers. Sinha noted that less than 15 percent of the e-fashion market in India is currently penetrated, indicating significant opportunities for growth, particularly among the Gen Z demographic. India is a key strategic market for global brands while domestic brands are strengthening their propositions, Nandita Sinha, CEO of Bengaluru-headquartered Myntra , which launched in Singapore last month, said. "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," Sinha said on Sunday after attending the NRF 25, an international retail show held here June 3-6. "The new-age insurgent brands are tailoring their value proposition," she said, underlining the growing strategic importance of the Indian market. "With the launch of Myntra Global, starting with Singapore, Myntra is targeting the 6,50,000-strong Indian diaspora in the Lion City. Our home website in India was already witnessing notable organic traffic to the tune of 30,000 users from Singapore," Sinha told PTI. Since the Singapore launch on May 19, Myntra has seen a growing engagement with impressive AOV (average order value) and a promising percentage of returning customers already. "We want to further reinforce our position as India's most loved lifestyle destination, making the best of trendy fashion, beauty and lifestyle accessible to 100 million plus customers in the country," said Sinha, who is leading the Indian fashion e-commerce company of Flipkart. At less than 15 per cent, e-fashion in India is still significantly underpenetrated compared to global benchmarks, presenting a tremendous opportunity, she said. A key focus area for Myntra is Gen Z, a cohort that engages with fashion differently and demands trendy fashion, a more personalised discovery journey and a seamless shopping experience. "The aspirational Indian shopper is trading up across beauty, accessories, and occasion-wear and Myntra as one of India's leading e-lifestyle destinations, is well poised to cater to the aspirational and evolving customer needs," Sinha added. PTI
Time of India
2 days ago
- Business
- Time of India
Myntra goes global: Online retailer launches first international platform in Singapore; targets Indian diaspora
Indian fashion e-commerce giant Myntra has set its sights on international expansion, beginning with Singapore, where it launched its Myntra Global platform last month to cater to the growing Indian diaspora. Nandita Sinha, CEO of the Bengaluru-based company, said the move marks the beginning of a long-term global ambition. '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,' she said on the sidelines of NRF 25, a major international retail summit held in Singapore from June 3 to 6. The platform is specifically targeting the 6.5 lakh-strong Indian community in Singapore. According to Sinha, Myntra had already noticed a steady stream of organic traffic from Singapore, around 30,000 users monthly, to its Indian website, signalling strong potential in the region. Since its official launch in Singapore on May 19, the brand has seen promising customer engagement, with a healthy average order value and encouraging signs of customer retention. India remains a 'key strategic market for global brands,' Sinha noted, adding that domestic players are now rapidly sharpening their offerings. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Scam Exposed: What They Won't Tell You about zero trust! Expertinspector Click Here Undo 'The new-age insurgent brands are tailoring their value proposition,' she said, highlighting the shifting dynamics of India's consumer market. Sinha also pointed out that the fashion e-commerce market in India is still underpenetrated, accounting for less than 15% of overall fashion retail, a figure far lower than global standards. This presents a tremendous opportunity, she said. Gen Z shoppers, in particular, remain a core focus for Myntra. She said this generation interacts with fashion in a unique way, seeking trend-led styles, a more personalised browsing experience, and a smooth, hassle-free shopping journey. Looking ahead, Sinha said Myntra aims to solidify its reputation as India's most-loved lifestyle destination. 'We want to further reinforce our position as India's most loved lifestyle destination, making the best of trendy fashion, beauty and lifestyle accessible to 100 million plus customers in the country,' she said. She added that the modern Indian shopper is increasingly willing to trade up, especially in beauty, accessories and occasion-wear and the e-commerce giant is well-positioned to meet those evolving needs. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
2 days ago
- Business
- Business Standard
India remains key strategic market for global brands: Myntra CEO Sinha
India continues to be a strategic market for both global and domestic brands, said Myntra CEO Nandita Sinha. She made the remarks after attending the NRF 25 retail event held in Singapore from 3 to 6 June. Following the e-commerce major's launch in Singapore on 19 May, Myntra Global has reported growing user engagement, a healthy average order value and a notable share of returning customers. Singapore launch '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,' Sinha said. The company in May said that it aims to assess consumer preferences, selection patterns and brand traction before planning wider expansion. Initial targets include reaching 12–15 per cent of the Indian consumer base in Singapore. The Walmart-owned company is currently targeting the 650,000 Indians living in Singapore. Sinha noted that the company's India-based platform had already recorded around 30,000 users from Singapore prior to the launch. 'We're tapping into opportunities around festivals, weddings and occasions with our brand portfolio, spanning Indian fashion and home décor,' Sinha had said in May. 'For now, our focus is on learning, getting product–market fit right and then expanding.' 'At less than 15 per cent, e-fashion in India is still significantly underpenetrated compared to global benchmarks, presenting a tremendous opportunity,' she said. Sinha added, 'The new-age insurgent brands are tailoring their value proposition,' while highlighting the Indian market's rising importance. Customer segment A key focus for Myntra is the Gen Z customer segment, which interacts with fashion differently and expects a customised shopping experience. 'The aspirational Indian shopper is trading up across beauty, accessories and occasion-wear, and Myntra, as one of India's leading e-lifestyle destinations, is well poised to cater to the aspirational and evolving customer needs,' Sinha said.
Time of India
2 days ago
- Business
- Time of India
India is key strategic market for global brands, says Myntra CEO
India is a key strategic market for global brands while domestic brands are strengthening their propositions, Nandita Sinha, CEO of Bengaluru-headquartered Myntra , which launched in Singapore last month, said. "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," Sinha said on Sunday after attending the NRF 25, an international retail show held here June 3-6. "The new-age insurgent brands are tailoring their value proposition," she said, underlining the growing strategic importance of the Indian market. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Learn The Most Successful Intraday Strategy in Just 2 Hr. thefutureuniversity Learn More Undo "With the launch of Myntra Global, starting with Singapore, Myntra is targeting the 6,50,000-strong Indian diaspora in the Lion City. Our home website in India was already witnessing notable organic traffic to the tune of 30,000 users from Singapore," Sinha told PTI. Since the Singapore launch on May 19, Myntra has seen a growing engagement with impressive AOV (average order value) and a promising percentage of returning customers already. Live Events "We want to further reinforce our position as India's most loved lifestyle destination, making the best of trendy fashion, beauty and lifestyle accessible to 100 million plus customers in the country," said Sinha, who is leading the Indian fashion e-commerce company of Flipkart. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories At less than 15 per cent, e-fashion in India is still significantly underpenetrated compared to global benchmarks, presenting a tremendous opportunity, she said. A key focus area for Myntra is Gen Z, a cohort that engages with fashion differently and demands trendy fashion, a more personalised discovery journey and a seamless shopping experience. "The aspirational Indian shopper is trading up across beauty, accessories, and occasion-wear and Myntra as one of India's leading e-lifestyle destinations, is well poised to cater to the aspirational and evolving customer needs," Sinha added.
