Myntra plans to open its brick and mortar format stores across India next year to give the required fillip to its private label. All this development is happening amidst the media reports stating that fashion portal might merge with Flipkart.
Myntra’s flagship private label—Roadster—will be promoted by Bollywood actor, Ranveer Singh. The company roped in the actor last month and also plans to launch two or three more celebrity brand labels this year
Myntra’s current private label brand portfolio includes Roadster, men’s clothing brand inspired by Hrithik Roshan, HRX, women’s apparel brand, Dressberry, and ethnic wear label, Anouk. According to the media reports Myntra is making 35 per cent higher margins on private label when compared to external brands.
World over retailers are banking big on the omni channel retailing and are bridging the gap between online and offline retailing models. Following the current trend, many Indian e-commerce retailers also opened their physical stores and Myntra is the latest one to join the bandwagon. As brick and mortar retail format gives better visibility, larger market share and also helps in generating customer loyalty for the brand; Myntra is all set to tread on the omni channel route.
