Myntra eyes Rs 500 crore turnover from Puma next year

Flipkart-owned online fashion retailer Myntra expects to achieve a Rs 500 crore turnover from sportswear retailer Puma over the next one year. Both plan to deepen their engagement by launching Puma’s global sneaker collections and expanding its kids wear and women’s wear collections.

Puma is the top-selling international sportswear brand on Myntra. The brand’s market share soared on the platform within the sportswear and athleisure category since unlocking started. The brand’s work from home trend will continue to expand into the next year and benefit from increased demand. It retails through over 370 doors in India but draws a significant share of sales from online channels as it was an early adopter of e-commerce in India.

The increased collaboration between Puma and Myntra comes at a time when India's top online retailers are stitching exclusive tie-ups with offline retailers and expanding their range in view of more permanent shift in shopping habits owing to COVID-19. More shoppers from India’s smaller cities are expected to come online now. Amazon, Walmart-backed Flipkart and Reliance Retail’s Ajio are actively eyeing a share of India’s massive retail market across grocery, electronics and fashion. Already, Flipkart Group has bought a minority stake in Aditya Birla Fashion and Retail (ABFRL) for Rs1,500 crore.