Fashion e-store Myntra is set to emulate its Indian rival Flipkart by launching a marketplace for local businesses and boutique brands to sell their wares.
Ashutosh Lawania, Myntra’s co-founder, told the Economic Times yesterday that the marketplace should be online by April. It will sit alongside Myntra’s own direct sales to consumers, just as Flipkart and Amazon do.
Myntra aims to have 500 fashion merchants on its site by the end of the first year. The marketplace will focus on local and boutique brands, while Myntra’s own stock will still be oriented towards major and premium fashion labels. The site already stocks over 600 brands, including the likes of Adidas, French Connection, and Benetton.
Bangalore-based Myntra got $50 million in funding earlier this month.
(Source: Economic Times)
(Editing by Paul Bischoff)