Indian fashion goes international as Myntra forays into the Middle East
India’s mid-market online retail fashion giant Myntra is setting foot in the international market by partnering two Middle Eastern e-commerce firms, Namshi and Noon. The e-tailer chose the UAE for expansion as the region has a huge Indian diaspora, young, tech-savvy demographics and proclivity for Indian designers’ cuts and fabrics. The partnerships will help Myntra quintuple sales over the next two years with Indian-origin brands selling casual wear for a fashion-conscious consumer.
Such partnerships also predict Myntra’s future approach to other markets, says Amar Nagaram, CEO. Besides, Middle East, the company is eyeing the Southeast Asian market thorough which it aims to chart an international roadmap from local to global.
Large buying potential attracts brands to Middle East
Lately, many Indian fashion companies have been expanding into the Middle East market, says Bain & Company, a financial analyst. Earlier this year, designer Ritu Kumar partnered Namshi to sell items from high-end label Ritu Kumar and its ready-to-wear line, Label Ritu Kumar. As Amrish Kumar, Managing Director of the brand, Middle East is a potentially more lucrative market as it has a huge buying power and similar clothing tastes to those in India.
For its Middle East foray, Myntra is planning many marketing initiatives including a social media campaign on the Namshi and Noon platforms, app banners and celebrity-driven advertising, including appearances by Bollywood star Hrithik Roshan on behalf of the fitness brand he co-founded, HRX.
Myntra is also accelerating a planned shift to casual and athleisure wear as more people work from home now. The company plans to sell over 500 casual and athleisure wear designs on Namshi and Noon from several of its private labels and a few outside fashion lines.
Attracting international customers with ‘Indianness’
However, Myntra’s plan to sell casual clothing items through these two platforms has surprised many industry leaders. As Sahil Anand, Consultant, Cedar Consulting opines, international shoppers do not buy basic clothing items from Indian brands as they have them in abundance in their countries and are often ahead of India in riding fashion trends. To attract international audience, the clothes on these two platforms will have to either have a strong Indian aspect or be sustainable and super fashionable.
To achieve this, Indian companies will have to study the market and consumer preferences constantly and adapt quickly to stay relevant. They will also have to pay extra attention to online search patterns to give customers what they want. This alone will help these companies acquire new customers and boost business.
