In the efforts to go global, the fashion e-commerce platform Myntra is going bigger and global. To make its international presence stronger than ever before, the company will be collaborating with fashion brands in the UAE. A year earlier, Myntra also held a pilot with Walmart-Canada which was also a part of the move to make its international position stronger.
Well, to move forward with its plans with the UAE, the company has already partnered with the Emaar group and their two regional e-commerce platforms which are noon.com and namshi.com. For its UAE audience, Myntra is going to store fashion casual and wear categories.
The CEO of Myntra, Amar Nagaram shared his views on international expansion by saying, “This is a significant milestone in our journey so far and marks the next phase of growth for Myntra. Our research identified high levels of potential channels across the globe offering significant opportunities in the online fashion segment.”
He further said, “Amongst these, the Middle East stood out in terms of the audience’s demographic profile, extremely high mobile penetration, the similarity in fashion preferences and a large population of Indian origin.”
He also mentioned that the company will continue to explore new markets and their potentials. Interestingly enough, UAE has always been the first choice of startup founders to expand their business. And like Myntra, Indian startups such as Zomato, Oyo have also forayed into the market.
The UAE market creates favorable conditions for the Indian business to expand their business as there is a lot of funding and interest as well.