 "India remains key strategic market for global brands: Myntra CEO Sinha")
India continues to be a strategic market for both global and domestic brands, said Myntra CEO Nandita Sinha. She made the remarks after attending the NRF 25 retail event held in Singapore from 3 to 6 June.
Following the e-commerce major’s launch in Singapore on 19 May, Myntra Global has reported growing user engagement, a healthy average order value and a notable share of returning customers.
Singapore launch
“With the launch of Myntra Global in Singapore, we’re also laying the foundation for our global foray, with a long-term aspiration to serve the Indian diaspora beyond India,” Sinha said.
The company in May said that it aims to assess consumer preferences, selection patterns and brand traction before planning wider expansion. Initial targets include reaching 12–15 per cent of the Indian consumer base in Singapore.
The Walmart-owned company is currently targeting the 650,000 Indians living in Singapore. Sinha noted that the company’s India-based platform had already recorded around 30,000 users from Singapore prior to the launch.
“We’re tapping into opportunities around festivals, weddings and occasions with our brand portfolio, spanning Indian fashion and home décor,” Sinha had said in May. “For now, our focus is on learning, getting product–market fit right and then expanding.”
“At less than 15 per cent, e-fashion in India is still significantly underpenetrated compared to global benchmarks, presenting a tremendous opportunity,” she said.
Sinha added, “The new-age insurgent brands are tailoring their value proposition,” while highlighting the Indian market’s rising importance.
Customer segment
A key focus for Myntra is the Gen Z customer segment, which interacts with fashion differently and expects a customised shopping experience.
“The aspirational Indian shopper is trading up across beauty, accessories and occasion-wear, and Myntra, as one of India’s leading e-lifestyle destinations, is well poised to cater to the aspirational and evolving customer needs,” Sinha said.
She also said, “We want to further reinforce our position as India’s most loved lifestyle destination, making the best of trendy fashion, beauty and lifestyle accessible to 100 million-plus customers in the country.”