Myntra looking to foray into offline retail for cosmetic products

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

India’s leading online fashion e-tailer Myntra is looking to launch multi-brand brick-and-mortar retailing for beauty and cosmetic products for its brand Myntra Beauty. The e-tailer is speculated to be scouting for large spaces across top cities, according to people familiar with the development.

Many online companies are looking to foray into the offline space to expand their network and enhance the shopping experience for their customers. Myntra has been slowly strengthening its offline presence.

Earlier this month, the company had acquired omnichannel retail platform Pretr, in order to expand offline presence.

Other online players that have forayed offline under their brand name include lingerie brand Zivami, omnichannel furniture platform Urban Ladder, Pepperfry, eyewear startup Lenskart, along with cosmetic retailer Nykaa.

Ananth Narayanan, chief executive at Flipkart-owned Myntra-Jabong, said, “Beauty and personal care is a fast growing segment for us which has been growing at 400% year-on-year. Today we have over 250 leading brands across make up, skin care, bath & body, perfumes and beauty appliances.”

Myntra Beauty is expected to be modelled on LVMH-owned global Chain Sephora and will focus on 3,000 to 4,000 square feet. The first outlet is likely to be opened in Bengaluru, later this year or by early next year.

In the beauty and cosmetics domain, the fashion e-tailer will be competing with established players such as Sephora, Colorbar, Bobbi Brown, Body Shop, among others.

India’s cosmetics industry is pegged at $6.5 billion and according to RedSeer consulting, the market is anticipated to reach $20 billion in annual sales by 2025, growing at 25% annually. With the considerable growth expected in the industry, more cosmetic e-tailers will be tempted to take the advantage to the offline opportunity as well.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Census 2021 exercise will begin from J&K in Sept 2020 (IANS Special)

By Rajnish SinghNew Delhi, Sep 24 (IANS) The Centre is ready with a list of states and Union Territories...

Tripura Congress chief resigns from all party posts

New Delhi, Sep 24 (IANS) In a major jolt to the Congress in the northeast, where it once ruled in all the states, the...

UK’s Labour Party backs leader Jeremy Corbyn’s Brexit Strategy

The Labour Party in the United Kingdom has given a nod to leader Jeremy Corbyn's Brexit strategy. In a conference in Brighton, the opposition...

Prakash Ambedkar denies tie-up with Congress and NCP; Vanchit Bahujan Aghadi open for dialogue with AIMIM

Prakash Ambedkar-led Vanchit Bahujan Aghadi denied the plans of alliance with Congress or Nationalist Congress Party in the forthcoming Maharashtra elections. The party is...

Vivo U10 with 5,000mah battery launched in India; available on Amazon staring Rs 8,990

Chinese smartphone maker Vivo is ready to launch its new U series phone whch is Vivo U10 in India today only. The launch event...
- Advertisement -

More Articles Like This