With India’s rapidly-growing online retail industry, Bangalore based e-retailer, Myntra, is set to open a London office space, closely followed by a space in New York.
In the run-up to the launch of the London office, ex-chief executive of fashion group, Net-a-Porter, Mark Sebba, has been appointed as an advisor.
Myntra vice president, Gautam Kotamraju, said he was very excited to have Mark Sebba on board with the firm.
Kotamraju added: “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.”
The launch of the London office is intended to forge relationships with other brands in the UK and Europe. Myntra intends to release new designs from its new London space every two weeks for its private partner-brands.
Retail consultancy, Technopack, claims that fashion accounts for 25 per cent of online retail and will only develop further to around 30 per cent by 2019. According to research firm Gartner, India’s online retail sector will reach $6 billion by next year. Myntra’s rival, Jabong, is also setting up a design space in London to develop relationships with their own private brands.
By:Â Kirsty MacGregor
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