Myntra expands business overseas, Bangalore-based ecommerce retailer Myntra.com is in process of setting up an office in London and is all set to expand business internationally.
Bangalore-based ecommerce retailer Myntra.com is in process of setting up an office in London and is all set to expand business internationally.
The company, which was recently acquired by Flipkart for a whopping $370 million, is setting up an office in London to lead its partnerships with brands in UK and Europe and expands its business operations to New York in about an year.
The London office will be headed by Mark Sebba, the ex-CEO of Neha-Porter, an online fashion group based in UK. Mark is known for successfully turning a magazine- style fashion e-trailer start-up, Richemont, into a company worth $850 million.
In the past five years online shopping in India and abroad has emerged rapidly and growth of e-commerce ventures has been rapid. Online fashion stores have moved their in-stock products to warehouses, as they prefer joining hands with designers who have inventories and other products to attract more customers.
Earlier this year, Myntra had teamed up with the Italian designer Vanni Lenci, introducing the Roadster brand of fashion apparels to India. Apart from that, the e-commerce giant has also sealed deals with UK based women fashion brands like Paper Dolls, Little Mistresses, Girls on Film etc.
Myntra’s biggest contemporary in the market, Jabong has already started setting up a design and branding office in London, focused on private brands like Lara Karen and Sangria.
With international brands hitting the Indian market through these e-commerce ventures, a great boost can be seen to the e-commerce sector in India.