Myntra establishes itself as the most preferred destination for sportswear in India
Bengaluru, December 14, 2017: Myntra has emerged as the nation’s most sought after retailer for sportswear. The category has witnessed strong growth on the platform at 30% year-on-year over the last five years, owing to concentrated efforts by the online fashion major to grow the segment and catering to the budding enthusiasm for sports and fitness among the masses.
Apart fromimproving shopper experience, Myntra has been successful in changing thedynamics of consumer profile by attracting more women to shop for sportswear,making it the most preferred platform in the country among women for thecategory. Myntra’s dominance in women’s wear extends to fitness wear categorieslike Running, Gym-wear, Aerobic, Dance & Yoga through exclusive offeringsfrom marquee brands like Nike, adidas, Puma, HRX, Reebok & 2GO. Myntra’sefforts has also led brands in the space to grow their base and contributes15%-20% to the revenues of major brands like Nike, Puma and adidas on Myntra’splatform. About 35% of Myntra’s own revenue comes from the same, whileenjoying a 40% share of the market in the category.
Enthusiasmfor sport and exploration, especially among youngsters has given rise toanother interesting category called ‘outdoor’, for which Myntra is thefavourite destination among shoppers in the country. Myntra ushered in topglobal outdoor wear brands such as The North Face, Merrel, Columbia, Solomonand Timberland, addressing the growing need, especially for hiking, adventuretravel and mountaineering. In addition to launching international brands,Myntra also engages with its customers in exciting ways through some of thebrands. For instance, it allows them to visit the Everest base camp incollaboration with Columbia Sportswear.
Some of thecustomers have developed a very special relationship with the concept that theywait weeks to get a chance to buy products like adidas Yeezy, Nike Jordansneakers or Nike Vapor-max, which usually sells out in under a minute. Myntranow ships out over one million units of footwear during an ‘End of Reason Sale’month, at 20X sales over a normal day.
PuspenMaity, VP & Business Head – Sports, Footwear and Accessories, Myntra, said, “Success of thesportswear category on our platform can be attributed to two important factors–Curation of the finest collection from among top domestic and internationalbrands and the ability to utilize data and advanced technology to map orforecast demand, styles and trends in the market and cater to consumer’s needs.Consumer is always at the core of any decision making that we do at Myntra, andwe understand that more and more people are embracing healthier lifestyle.Sportswear category will witness very strong growth in the years to come and weexpect about 0.5 billion dollars in revenue from the segment over the next 3years.”
AbhishekGanguly, Managing Director, Puma India, added, “More and more young consumers arefollowing, buying, collecting and even preserving sneakers. This culture isgaining huge traction all across the country. PUMA plans to introduceinnovation and style through our global range of products on a regular basis.Myntra with its sneaker store has created the right base for generatinginterest around sneakers. It has also created an engagement platform forsneaker freaks across the country”
With 2018gearing up for the Football World cup, the market in India for football relatedmerchandise, ranging from jerseys, match balls and accessories is set toexperience frenzy like never before. Another interesting aspect is the growingpopularity of Athleisure – The new dress code. The current trend of sportysilhouettes and sports inspired lifestyle wear will continue in 2018 as well,with multiple Indian designers & celebrities endorsing it heavily. It willsee a mixture of new colors, more brands, innovative fabric techniques &silhouettes.
Growing at10% CAGR, the sportswear category in India is currently valued at rupees 32,000crore, of which online segment has a share of 25% in the organized market. Thisis set to grow steadily in the coming years with more and more people opting toshop online.
Myntra is India’s leading platform forfashion brands and a pioneer in m-commerce plays. Myntra market place listsover 2,000 leading fashion and lifestyle brands in the country suchas Nike, adidas, Puma, Levis, Wrangler, Arrow, Jealous 21, Diesel, CAT, HarleyDavidson, Ferrari, Timberland, US Polo, FabIndia, Biba and many more to offer awide range in latest branded fashion and lifestyle wear. Myntra services over19,000 pin codes across the country. With the largest in-season productcatalogue, 100% authentic products, Cash on Delivery and its 30-dayExchange/Return policy, Myntra is today the preferred shopping destination inIndia.