Flipkart owned Myntra, is planning to start a fashion incubator to pursue young apparel designers with an aim to create an ‘ecosystem’ of apparel brands and grow more brands in India. The apparel brands will be sold through the online retailers Myntra and Flipkart exclusively to the mid premium and premium buyers, as per The Hindu report.
In May, Myntra was acquired by Flipkart but the two continue to work as separate entities. Recently, the company had secured INR 300 crores led by Premji Invest, Wipro’s venture capital fund to expand capacity of warehouses, improve logistics and the website for customers.
Ashutosh Lawania, co-founder, Myntra, said on Wednesday on the sidelines of Zeitgeist Brand Summit 2014, “We would like to support upcoming designers through the Myntra and Flipkart platforms to create and market their brands.”
S. Bindra, Managing Director, Biba, a brand hosted on Myntra, said, “Designers should exploit the opportunity created by the online platform.”
In a related news, Flipkart has partnered with National Institute of Fashion Technology (NIFT) to give training to its students in areas like creating private lables and marketing of products, as per an IndiaTV report. The MoU with Flipkart will give the students access to other handloom, apparels, leather and accessory clusters.
It is safe to assume that the two moves could be inter-related, as one could easily synergise with the other.Category Business Ecommerce