Flipkart owned Myntra is looking to set up an office in London to lead its partnerships with brands in UK and Europe and also plans to expand its business operations to New York in about a year. The company has appointed Mark Sebba (retired chief executive of UK online fashion group Neta Porter), as an advisor to run-up the launch of its London office.
As per an ET report, Bangalore-based Myntra and its Delhi-based rival Jabong are increasingly focusing on global brand partnerships and designer led in-house brands to attract and retain customers.
“We, as a market, still look to the West for our fashion inspirations. London is a fashion Mecca and building expertise there will help us be a credible fashion destination for consumers,” said Gautam Kotamraju, vice president of fashion brands at Myntra.
According to the latest Gartner report, Indian e-commerce market in Asia-Pacific region is expected to reach around USD 6 billion by 2015, growing around 60-70 percent per year and a increase over 2014 revenue of USD 3.5 billion. International brands are entering India through e-commerce companies, such a move could provide a good boost to the e-commerce sector in the country.