Flipkart deepens fashion market push with in-house brands
Flipkart, which is competing with Amazon for market share in India’s booming online shopping industry, gained online fashion market dominance with the 2014 acquisition of Myntra, which subsequently bought rival Jabong.
Indian e-commerce firm Flipkart on Thursday launched a private label kids’ fashion and toy brand as it aims to maintain its leadership in the domestic online apparel market.
Flipkart’s motive behind launching private brands is not to drive the profitability of its platform, but rather to provide more selection and better quality products for customers.
Myntra has its own portfolio of private label brands and forecast in August that these brands would post double-digit operating profit margin within 18-24 months.
Miss& Chief, Flipkart’s fourth private-label clothing brand, will include apparel, footwear and educational toys for children.
Walmart Inc., which is reportedly in talks to buy a majority stake in Flipkart, also owns a portfolio of private-label apparel brands and had announced the launch of four more in-house brands in February.
The world’s largest brick-and-mortar retailer is in talks to buy over 40 percent of Flipkart is potentially one of its biggest overseas deals.
Flipkart’s move of launching in-house brands appears to dominate the online fashion market as many investors are ready to join the league.
Shubhi Sharma39 Posts
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