Myntra Picks Singapore As First International Market
The move is targeted at the roughly 6.5 lakh-strong Indian diaspora based in the city-country, and will focus on Indian fashion initially.
Flipkart-owned Myntra has launched operations in Singapore, with the island nation becoming its first international outpost.
The move is targeted at the roughly 6.5 lakh-strong Indian diaspora based in the city-country, and will focus on Indian fashion initially.
"As part of Myntra’s broader growth strategy, Myntra Global is poised to enable the organisation to tap into new customer segments and build stronger international brand affinity, over the next few years," the company said in a statement.
"With a strong legacy of 18 years of catering to fashion aspirations, Myntra has already been witnessing notable organic traffic to the tune of ~30k users from Singapore to its existing platform," it said.
In conversation with NDTV Profit, Chief Executive Officer Nandita Sinha said the company is open to expanding further, but has no concrete plans so far. "The feedback we got from our direct-to-consumer brands was also that we need to go international...We will also continue to build and scale the platform to cater to Singapore seamlessly, propelling the growth of our brand partners," she said.
For the deliveries, Myntra Global will tap into third-party cross-border logistics services to bring customers their orders in 4-7 days on average.
Sinha didn't comment on the impact that a potential Flipkart IPO will have on the company's growth path. Founded in 2007, Myntra is a part of the Flipkart Group, which is now owned by Walmart.
