Flipkart’s subsidiary brand Myntra has introduced an exclusive range ‘House of Pataudi’ in association with Bollywood actor Saif Ali Khan. The Indian wear line co-owned by Myntra along with Khan and Exceed Entertainment, is in line with the e-retailer’s objective to capture the huge ethnic wear market in the country.
The company is reportedly looking to boost its in-house brands that account for around one-fourth of the brand’s total revenue.
Ananth Narayanan, CEO, Myntra & Jabong affirmed the media that the company witnessed a rapid increase in search of ethnic apparel on its marketplace which propelled them to launch an exclusive ethnic brand that offers menswear and women’s wear collection for every occasion.
“At present, it will be available only in our online stores but we believe that it will top the ethnic wear section on our marketplace in the coming three years and it also has a potential for its own brand stores in the future,” Ananth said.
As for now, the Flipkart-owned apparel e-retailer is working on its goals to launch 100 new physical outlets out of which 50 will be of its fastest growing exclusive brand, Roadster, while the other half will be followed by HRX, an activewear brand co-owned by Bollywood actor Hrithik Roshan.
Additionally, the CEO mentioned that the ethnic wear segment in India is worth Rs. 70,000 crores and the majority of it is disorganised, opening up an ample opportunity for the leading fashion e-retailer in the country.
Source: https://in.apparelresources.com