Myntra to open London Office to Partner European Brands

Oct 20, 2014 13:10 IST

Bangalore-based online fashion retailer Myntra on 19 October 2014 announced to open London Office to Partner European Brands.

The company also plans to expand to New York in 2015.

With the office in London, company will lead the partnerships with brands in UK and Europe, liaison with European design studios, spot global fashion trends and generate fashion content.

The company has appointed Mark Sebb as an advisor in the run-up to the launch of its London office.

Mark Sebb retired as chief executive of UK-based online high-fashion group Neta-Porter in 2014.

Sebba is largely credited with helping scale up the magazine-style fashion e-tailer. The company is owned by Swiss luxury group Richemont. He extended his help from a small start-up in the early 2000s to the 850 million dollar company.

Jabong is already setting up a design and branding office in London primarily focused on its private brands like Lara Karen and Sangria.

Comment

According to retail consultancy Technopak, fashion accounts for 25 per cent of the online retail industry's sales and will grow to 30 per cent in 2019.

India's online retail industry is estimated to reach 6 billion US dollar (about 36800 crore rupees) in size in 2015, according to research firm Gartner.

With fashion and lifestyle quickly becoming the largest category in India's fast-growing online retail industry, Myntra and its Delhi-based rival Jabong are increasingly focusing on global brand partnerships and designerled in-house brands to attract and retain customers.

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