19 September 2022, Mumbai:
Myntra the Bengaluru-based, fashion e-commerce retailer backed by Flipkart, is expanding its portfolio to include 1,400 beauty and fashion brands. The move is timed to make the upcoming ‘Big Fashion Festival 2022’ a huge success. Myntra’s CEO Nandita Sinha says the Big Fashion Festival, popularly known as BFF, would launch 15 international fashion brands. The year 2022 marks the third edition of BFF.
“This year Myntra is engineered to handle as many as 0.9 million concurrent users on its platform — slightly lower than the one million concurrent users that it was built for last year”, Sinha says.
Geared up for the big sale, Myntra will be handling 13,000 online orders per minute. The platform is also geared to handle 900,000 concurrent users per minute at peak. Over 21,000 Kirana stores will fulfill 80 percent of the BFF orders.
Riding on big brands India's entry
American department store chain Macy’s, the operator of hundreds of fashion stores in the US, is set to enter India riding on e Myntra during BFF. Myntra’s app hosted a “launching soon" tag, along with Macy’s logo.
The retailer will also offer a flat 25 percent off on Macy’s inventory as a part of a special launch. The launch, ‘Only on Myntra’, is part of the retailer’s Big Fashion Festival special, set to start ahead of the festive season.
Chennai’s top ethnic wear brand Nalli has also joined the Myntra line-up recently. Compared to BFF 2021, the third BFF will see 1.5 times more styles and also house over 6,000 brands and over 100 new launches. Sinha is confident this year’s BFF is going to be huge and she expects to add nearly six million unique customers and acquire nearly a million first-timers during the event that commences on September 23.
Myntra is focused on Indian consumer preferences around D2C and will put the spotlight on New Age brands such as Label Life, Almo, and Breakbounce in its selection. Sinha says, “The other area of opportunity for us is for our international brand portfolio to grow during the festive season.
We are launching 15 new brands, including Macy’s, Freesoul, and 8seconds from Korea in our attempt to bring global fashion to the country. The Indian customer needs are niche and there are a big set of brands fulfilling those niches. So, we will continue to build the D2C category with partners.”
The fashion marketplace says it would go live with its ‘Big Fashion Festival’ sale on September 23, aligning it with Flipkart’s Big Billion Days and Amazon India’s Great Indian Festival Sale, which begins the same day. India’s apparel market is set to touch Rs 5.7 trillion by 2024, as per Boston Consulting Group forecasts.
The country’s top retailers including Reliance Retail, Aditya Birla Fashion, Nykaa Fashion, and Flipkart Group have been luring international brands in a bid to appeal to younger and well-heeled shoppers. Myntra’s growth strategy is relying on international and direct-to-consumer (D2C) brands as well as newer categories such as Gen Z and teenage fashion.
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