Myntra gained market share, scaling beauty and home decor: CEO Nandita Sinha
Online fashion retailer Myntra has gained market share over the past 12-18 months, chief executive Nandita Sinha told ET, even as the platform is facing rising competition from rivals like Reliance Ajio and Nykaa.
Sinha, a Flikpart veteran and the fashion etailer’s CEO for nearly two-and-a-half years, said international brands and direct-to-consumer (D2C) brands have emerged as a top focus area for the firm, as they drive a significant part of high-value retail for the firm. Myntra is also accelerating diversification into fashion peripheral sectors like beauty and home decor, she said in an interview.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitAround 45% of Myntra’s total sales for international brands are coming from tier-two towns and beyond, Sinha said, attributing it to a lack of physical stores and other channels that can cater to the increasing demand for those products in such markets. Demand for D2C brands like Rare Rabbit, Snitch and Bewakoof is also growing fast.
D2C brands are seeing 80% growth in demand year-on-year, she said, while the luxe portfolio, which sells high-end brands like Hugo Boss and Guess, has seen a 150% expansion.
Also read | Myntra secures $54 million fund infusion from parent Flipkart
“It hasn’t been about winning one category. We have gained market share in a
