Myntra to set up office in Europe

 

Bangalore-based online fashion retailer Myntra is in the process of setting up an office in London and plans to expand to New York in about a year. 

The London office is said to lead their partnerships with brands in UK and Europe, liaison with European design studios, spot global fashion trends and generate fashion content.
Gautam Kotamraju, vice president of fashion brands at Myntra, said getting international fashion industry experts is part of the reason for setting up an office in London. 

With fashion and lifestyle quickly becoming the largest category in India's fast-growing online retail industry, 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. 

The company, which had revenue of Rs 438.5 crore in 2013-14 and a net loss of Rs 293 crore, had earlier stated its intention to release new designs from its London studio every 15 days for its private brands.

Myntra has also announced the introduction of 'Try and Buy' (T&B), a new service option aimed at breaking the final barrier to shopping fashion online.

Adding to the list of services that Myntra offers to its customers, T&B allows for a trial of products such as apparel, shoes and accessories before purchase.

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