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Myntra's Explosive Festive Growth: 60 mn monthly users, 100% YoY growth

This festive season marked an extraordinary surge for Myntra, India's premier fashion, beauty, and lifestyle platform, with a remarkable increase of almost 60 million monthly active users. The platform witnessed an influx of 75 million new app users in 2023, contributing to a phenomenal 100 per cent year-on-year growth in its customer base over the last 18 months.

Introducing innovative features to enhance customer experience, Myntra unveiled FWD—an app-within-an-app proposition tailored for its dynamic Gen Z audience. During the festive period, the demand for this cutting-edge fashion segment soared by 2.25 times year-on-year, accompanied by an impressive 175% year-on-year growth in the customer base. The Myntra FWD app, boasting a curated selection of 90,000 different styles, stands out with its 'spot it, get it' format, promising a personalized shopping experience for users.

In Direct-to-Consumer (D2C), Myntra witnessed almost 70 per cent year-on-year growth during the quarter. Leading brands on the platform achieved 100 per cent growth, solidifying Myntra's position as a pivotal player in the e-commerce landscape. Embracing the digital age, Myntra introduced Myntra Mini, a short-form video content platform that garnered an impressive one million daily views during the festive season. This initiative underscores Myntra's commitment to its digitally native user base.

Notably, Myntra incorporated the ChatGPT feature into its platform to elevate the experience around new product launches. Additionally, the integration of cutting-edge AI-led features, including Maya and MyStylist, demonstrates Myntra's commitment to staying at the forefront of technological innovation within the fashion and lifestyle space.

 

Myntra's Explosive Festive Growth: 60 mn monthly users, 100% YoY growth

Myntra, Ajio kick off mega sales amidst wedding season boom

Online fashion retailers Myntra and Ajio have unveiled their highly anticipated sales events: 'End Of Reason Sale' and 'Big Bold Sale,' respectively. Strategically timed to coincide with the upcoming wedding season from November 23 to December 15, 2023, experts estimate sales during this period could reach a substantial Rs 4.25 lakh crore, according to the Confederation of All India Traders.

The Big Bold Sale by Ajio, which kicked off on December 7, 2023, reported an impressive 40 per cent surge in orders during the early access phase compared to business as usual (BAU). Meanwhile, Myntra's 19th edition of the ‘End Of Reason Sale’ anticipates attracting approximately 10 lakh new customers.

Economist Teresa John from Nirmal Bang Institutional Equities predicts a robust wedding season following the festive period, providing further impetus for short-term industry growth. In anticipation of the demand surge, companies have been actively investing in various supply chain solutions to ensure timely deliveries. The 2023 Global Warehousing Study by Zebra Technologies reveals that about 75 per cent of warehouse decision-makers in India and other Asia Pacific markets are enhancing performance to meet the evolving demands of e-commerce.

According to the study, approximately 58 per cent of warehouse decision-makers have plans to implement next-generation technologies such as radio frequency identification (RFID) by 2028. This strategic move aims to provide real-time inventory visibility and mitigate out-of-stock scenarios, especially during peak demand seasons like the festive celebrations in India.

Myntra, Ajio kick off mega sales amidst wedding season boom

Foot Locker partners Metro Brands, Nykaa Fashion for exclusive India launch

New York-based specialty athletic retailer Foot Locker, has inked a long-term licensing agreement with Metro Brands (MBL) and Nykaa Fashion to introduce a diverse collection of sportswear and footwear from renowned global brands in India.

Under the terms of the agreement, MBL will be owning and operating Foot Locker stores in India, in addition to selling authorized merchandise within the brand's stores. Nykaa Fashion will serve as the exclusive e-commerce partner, overseeing Foot Locker's India website and offering Foot Locker branded products on its existing e-commerce platform.

Mary Dillon, President and CEO of Foot Locker, Inc., says the exclusive partnership with Metro Brands and Nykaa Fashion aims to elevate sneaker culture in India. This collaboration seeks to merge Foot Locker's profound understanding of the Indian consumer with Metro Brand's well-established store operational excellence and Nykaa Fashion's leading digital capabilities.

Nissan Joseph, CEO of Metro Brands, adds that this partnership not only aims to revolutionize the sneaker market but also enhance the overall shopping experience for customers.

Foot Locker partners Metro Brands, Nykaa Fashion for exclusive India launch

Reliance Retail to expand distribution to third party stores

Reliance Retail, with over 50 exclusive brand outlets across India, is embarking on an ambitious strategy to broaden its reach in the clothing and fashion market. The company now aims to extend the distribution of its brands, including Silkfeet, Jivers, Xlerate, Feet Up, Dhuni by Avassa, Riva, John Player Select, kidlyboo, and Altair, to third-party stores.

This initiative is set to cover all markets, including rural areas, as Reliance Retail seeks to tap into a wider consumer base. The brands will be strategically positioned in categories such as western wear, Indian wear, innerwear, lingerie, costume jewelry, footwear, and fashion accessories, catering to the value and mid-premium segments.

Under the Ajio Business banner, Reliance Retail plans to enhance its pilot project by the next spring-summer season, further solidifying its presence in the market. The company is committed to bringing its diverse range of products to third-party stores in various locations, making fashion more accessible to a broader audience.

Moreover, Reliance Retail intends to boost its new formats, Azorte, targeting an annual growth of 50 per cent, signaling its dedication to evolving retail trends. Furthermore, The Trends stores will witness 10 to 15 per cent growth, demonstrating Reliance Retail's commitment to staying at the forefront of the fashion retail landscape.

Launched just last year, these strategic moves underline Reliance Retail's determination to not only establish itself as a key player in the fashion industry but also to continually adapt and grow in response to market dynamics.

Reliance Retail to expand distribution to third party stores

Arrow opens new EBO in Bengaluru

Arrow has opened a new exclusive brand outlet in Bengaluru. Located inside the city’s ‘Mall of Asia’, the outlet spans 1,400 sq ft. It offers a thoughtfully designed premium menswear range to help the brand meet sophisticated fashion demands of India’s modern male generation. The store not only redefines customers’ shopping experinces but also highlights the brand’s commitment to offer unmatched styles and designs to its customers in Bengaluru.

Showcasing the latest offerings from Arrow's Fall – Winter 23 Collection, the store features the brand’s wardrobe essentials such as the Autopress shirts known for their wrinkle-free nature and the Autoflex trousers with a comfortable flexible waistband. The collection also offers suits and blazers from the ceremonial line for special events, linen blazers for an elevated look, and ranges like Arrow Sports with polos and chinos, as well as Arrow New York, offering modern workwear and casual attire.

Arrow opens new EBO in Bengaluru

Cultsports expanding offline presence with new EBOs and product categories

Cultsports, the direct-to-consumer (D2C) division of Cultfit, is set to broaden its offline presence by inaugurating an exclusive brand outlet each month. Currently retailing sportswear, indoor fitness equipment, cycles, and more on major marketplaces like Myntra, Flipkart, and Amazon, the brand is expanding its footprint beyond the digital realm.
With 600 fitness centers across India, Cultsports aims to replicate this success with an equivalent number of offline stores in the next three years, according to Shamik Sharma, Business Head. The brand recently inaugurated its inaugural brick-and-mortar store in Bengaluru.
Commencing its online operations in 2019, Cultsports diversified its reach by venturing into offline multi-brand outlets. Sharma reports a robust 70 per cent growth in the brand's online operations last year. He anticipates this segment to contribute nearly one-third to Cultfit's overall revenues, projecting a rise to 50 per cent in coming years.
Cultsports is also gearing up to explore new product categories, gradually introducing outdoor hiking products, swimwear, accessories, and sporting goods. Currently offering footwear, apparel, cycles, and cardio equipment, the brand is poised for diversified growth.

Cultsports  expanding offline presence with new EBOs and product categories

JadeBlue unveils 35th luxe store in Surat, Gujarat

JadeBlue, the men's clothing retailer, celebrated the inauguration of its 35th store in India, unveiled in Surat, Gujarat. Spanning 4,000 sq. ft., the stand-alone store marks JadeBlue's third establishment in Surat.

The store boasts an array of international and national brands, alongside premium JadeBlue labels, featuring the iconic Modi Kurta and Jacket.

Established in 1995, JadeBlue Group's maiden 2,800 sq. ft. outlet paved the way for the company's evolution, now comprising two distinctive brands: JadeBlue and Greenfibre.

JadeBlue, synonymous with luxury, offers an array of men's fashion, including Modi kurtas, jackets, loungewear, ethnic wear, casual wear, and formals.

JadeBlue unveils 35th luxe store in Surat, Gujarat

Ethnix by Raymond expands with new EBO in Mumbai

Men’s traditional wear brand Ethnix by Raymond has expanded its retail presence by opening an exclusive brand outlet in Mumbai. Located within Oberoi Mall, Goregaon, the store offers a wide range of wedding, formal, and fusion wear along with accessories and head wear. 

Ethnix already has stores in Mumbai’s R City Mall and Infinity Mall in Mall amongst others. The brand opened many new stores this year in Pune, Viziangaram and Ahmedabad. It also sells its apparels through a dedicated e-commerce store on the ‘MyRaymond’ store and on multi-brand e-commerce platforms such as Myntra and Amazon India.

Celebrating Indian culture, Ethnix by Raymond offers a diverse range of sherwanis, kurtas, short kurtas, and Indo western outfits. The brand crafts each of its garment pieces thoughtfully to complement customers’ individual style and exude a timeless charm.

Ethnix by Raymond expands with new EBO in Mumbai

EKAM Summit 2023 sparks Retail Revolution for Inclusion

The Retailers Association of India (RAI) and TRRAIN (Trust for Retailers and Retail Associates of India) collaborated to host the inaugural EKAM – All Inclusion Summit 2023 on December 5 at the Hotel Taj Santacruz in Mumbai. The summit, themed 'Fostering Inclusion: Celebrating Differences, Driving Social Change,' aimed to promote diversity, equity, and inclusion in the retail sector.
Ameesha Prabhu, Co-Founder and CEO of Trust for Retailers and Retail Associates of India, emphasized the summit's role in initiating crucial dialogues on inclusivity. She highlighted its potential to catalyze tangible changes, focusing on sensitizing, rewarding, and institutionalizing inclusion for young women, individuals with disabilities, and LGBTQI members.
Kumar Rajagopalan, CEO of Retailers Association of India, drew parallels between the summit's mission and the collaborative success portrayed in the film 'Lagaan.' He encouraged recognizing and celebrating unique strengths within individuals, stressing that diversity enriches both personal and professional aspects of life.
Rekha Sharma, Chairperson for the National Commission for Women, delivered the keynote address, praising the discussions on gender equality, inclusion, and diversity. She aligned India's celebration of diversity with the principles of 'anekta mein ekta' and 'Vasudev Kutumbakam,' emphasizing the industry's role in empowering women and fostering inclusive growth.
BS Nagesh, Founder of TRRAIN, shared the transformative impact of inclusivity in the retail sector, urging industry-wide participation to uplift diverse communities and create economic opportunities. Eminent speakers included leaders such as Arman Ali, Leenika Khattar, Damodar Mall, and others, discussing various aspects of diversity, equity, and inclusion.
The Summit touched on key topics like culture building strategies, building inclusivity from the ground up, unleashing the potential of persons with disabilities, and designing inclusive retail spaces. The discussions aimed to enhance awareness, facilitate learning, and promote collaboration to drive positive change in the retail industry.
Aradhana Lal, Senior VP at Lemon Tree Hotels Ltd., highlighted the importance of organizational readiness for disability inclusion, while Tejaswini Nigam from Pepe Jeans India Ltd. emphasized the need to consciously consider differently-abled customers in store design.
Alex Mathew, Senior VP at Landmark Group, praised the EKAM Summit as an eye-opener and a platform for exchanging ideas and initiatives. Despite the growing number of people with disabilities in the country, the Indian retail sector employs less than 1% of its workforce from this pool, a statistic addressed by the summit.
Supported by Titan Company as Presenting Partners, the EKAM Summit symbolizes the beginning of a series of impactful gatherings, underlining the ongoing conversation on inclusivity as an essential aspect of everyday life within the retail sector.

EKAM Summit 2023 sparks Retail Revolution for Inclusion

Nestasia unveils chic Delhi outlet in DLF Avenue Mall

Nestasia, the renowned fashion accessories and homeware brand, has inaugurated its inaugural store in North India, situated within the sprawling DLF Avenue Mall in Saket, spanning 580 square feet.

The DLF Avenue location, marked by its rich catchment and high footfall, serves as an auspicious debut for Nestasia's physical presence.

The store, characterized by a white interior adorned with gold accents, oakwood, and marble details, hosts seven primary product categories, including bags, décor, and soft furnishings, featuring collections like 'Nest Modern' and 'Nest Jungle.'

Nestasia plans an ambitious rollout of more than 20 brick-and-mortar stores in 2024, extending its reach nationwide.

Nestasia unveils chic Delhi outlet in DLF Avenue Mall

Cantabil unveils chic winter & wedding styles

Cantabil Retail has unveiled its ‘Winter and Wedding Collection’ with a captivating digital film, set to make waves on Instagram, Facebook, and YouTube. Shot against the scenic backdrop of Thailand, the film showcases Cantabil's chic winter offerings for men, women, and kids, alongside glimpses of their wedding collection.

The winter line, inspired by global fashion trends, seamlessly combines style and warmth. For men, the collection features three-piece suits, reversible padded puffer jackets, lightweight options, and distinctive quilted designs in seasonal colors. Athletic-inspired activewear jackets with advanced technology cater to fitness enthusiasts.

The women's collection includes lightweight padded jackets, body-hugging skeevies, and warm woolen kurtis with lurex designs. The kids collection offers color-block jackets, classic dresses, and trendy shirts.

Cantabil's commitment to innovation is evident in cutting-edge designs, from suede jackets and hoodies to structured T-shirts. The brand continues to redefine fashion, setting a new industry standard with its stylish and versatile offerings.

Cantabil unveils chic winter & wedding styles

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