Swarovski ties up with Myntra to sell online

This would be Swarovski's first e-commerce undertaking with objective to consolidate reach

Swarovski, the luxury jewelry and accessory brand today said its products will sold exclusively on Myntra website as well as mobile app. Swarovski said this would be Swarovski’s first e-commerce undertaking with the objective to consolidate reach and share access with tech-savvy consumers as well as nascent Tier 2 markets.

Swarovski e-boutique will be located under Myntra’s premium offerings umbrella. Consumers will be able to shop for the same collections (Earrings, Bracelets, Necklaces, Sets, Watches, Writing Instruments and more) available at Swarovski stores as well as choose from the brand’s diverse fashion and trend options. In all there will be over 300 selections for customers to choose with prices ranging from Rs 1990 to Rs 49,900.

Myntra’s recent foray into the jewelry segment has opened doors for leading jewelry brands to retail their products on its platform, allowing customers to shop from their favorite jewelry brands online.

According to an Assocham study, Indians are likely to spend $35 billion on online luxury stores by 2016, compared to $8 billion in 2012. The report also states that, the jewelry category was expected to grow by 30-35% in the next three years. The high internet penetration across tier-II and tier-III cities along with high disposable income shall lead to approximately 100 million transactions on the Internet by 2020.