Myntra goes international: Online retailer launches first international platform in Singapore; targets Indian diaspora

Indian trend e-commerce big Myntra has set its sights on international enlargement, starting with Singapore, the place it launched its Myntra Global platform final month to cater to the rising Indian diaspora.Nandita Sinha, CEO of the Bengaluru-based firm, stated the transfer marks the start of a long-term international ambition. “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,” she stated on the sidelines of NRF 25, a serious international retail summit held in Singapore from June 3 to six.The platform is particularly concentrating on the 6.5 lakh-strong Indian neighborhood in Singapore. According to Sinha, Myntra had already observed a gentle stream of natural site visitors from Singapore, round 30,000 customers month-to-month, to its Indian web site, signalling sturdy potential in the area.Since its official launch in Singapore on May 19, the model has seen promising buyer engagement, with a wholesome common order worth and inspiring indicators of buyer retention.India stays a “key strategic market for global brands,” Sinha famous, including that home gamers at the moment are quickly sharpening their choices. “The new-age insurgent brands are tailoring their value proposition,” she stated, highlighting the shifting dynamics of India’s client market.Sinha additionally identified that the style e-commerce market in India continues to be underpenetrated, accounting for lower than 15% of general trend retail, a determine far decrease than international requirements. This presents an amazing alternative, she stated.Gen Z customers, in specific, stay a core focus for Myntra. She stated this era interacts with trend in a singular approach, in search of trend-led kinds, a extra personalised searching expertise, and a clean, hassle-free procuring journey.Looking forward, Sinha stated Myntra goals to solidify its repute as India’s most-loved way of life vacation spot. “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,” she stated.She added that the trendy Indian shopper is more and more keen to commerce up, particularly in magnificence, equipment and occasion-wear and the e-commerce big is well-positioned to fulfill these evolving wants.