Myn­tra Eyes Gobal Sales for its pri­vate la­bel prod­ucts on Walmart

Shoes & Accessories - - The Month That Was -

Af­ter the US gi­ant Walmart’s $16-bil­lion in­vest­ment, Flip­kart’s fash­ion arm Myn­tra is look­ing to go global on the back of the Walmart-flip­kart deal. Myn­tra is not look­ing to take its e-com­merce plat­form out­side but is plan­ning to sell its pri­vate la­bel prod­ucts in Walmart stores over­seas.

Myn­tra-jabong CEO Ananth Narayanan said that the com­pany was tar­get­ing mar­kets with large pock­ets of In­di­ans. “The con­ver­sa­tions (between Myn­tra and Walmart) have started. Those are around find­ing ar­eas where we can ac­cel­er­ate to­gether - whether it’s go­ing global with Myn­tra or them tak­ing our learn­ings from the om­nichan­nel and sup­ply chain,” the CEO said.

Narayanan said that his goal was to trans­form Myn­tra into a global brand in the next three years. He did not di­vulge how their pri­vate ap­par­els are go­ing to make it to Walmart stores in the US and beyond. He’s, how­ever, look­ing at ex­port­ing in-house tech­nol­ogy that uses ar­ti­fi­cial in­tel­li­gence (AI) for its ap­parel de­signs. He said that even if they can’t take Myn­tra as a busi­ness to other places, they can take part of their busi­ness global. He said that this plan is not only for their pri­vate la­bels but also for brands like Rapid that are uni­ver­sally ap­pli­ca­ble.

While Myn­tra wants to take its largest brands such as Road­ster abroad, its bets are on the celebrity-backed brands, in­clud­ing HRX en­dorsed by Hrithik Roshan and Deepika Padukone’s All About You. They are hop­ing that the huge fan fol­low­ing out­side In­dia will pull in cus­tomers.

Cur­rently Myn­tra has 14 pri­vate brands of vary­ing sizes from best-sell­ing to small ones. Their pri­vate la­bel busi­ness pulls in 25% of their rev­enues. Myn­tra ex­pects the con­tri­bu­tion to go up to 30% by the next fis­cal year.

Apart from tak­ing Myn­tra prod­ucts to the global mar­ket, Walmart will also be in­stru­men­tal in cut­ting bet­ter deals with global brands. Myn­tra has al­ready tied up with global brands such as Mango and Espirit for li­cences to act as their mas­ter fran­chise part­ner across In­dia. Eleven Mango stores have been set up through this part­ner­ship, while the first Espirit store will be func­tional in the next two months.

Narayanan said that global brands have started eye­ing Myn­tra as their strate­gic part­ner to drive growth in In­dia.

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