Flipkart-owned online fashion retailer Myntra has opened its first offline (brick-and-mortar) store in order to increase the visibility of its high margin in-house brands.
Myntra on Thursday opened its first ‘Roadster’ brand store in the locality of Indiranagar in Bengaluru. The store will allow customers who’ve never shopped for Roadster products online and also existing customers get an experience of the brand offline.
With this, Myntra has joined its e-commerce peers such as Zivame, LensKart, Pepperfry and Urban Ladder who already have similar offline stores. For last one year or so Flipkart is considering opening traditional brick-and-mortar/ or offline stores as part of a so-called online-to-offline (o2o) strategy to attract more shoppers.
Last year, global e-commerce giant Amazon had too opened a brick-and-mortar store in New York, and Amazon India launched its offline shopping initiative called Udaan in late 2014.
Myntra picked Roadster — its in-house fashion brand — for its offline debut because it’s not only the largest in-house brand the company has, but also the largest selling clothing brand on its online platform. The brand currently contributes 8 per cent of the overall revenue of Myntra and is on track to hit a run rate of Rs 600 crore in the current financial year.
“The purpose of this store is to create a Roadster brand experience,” said Ananth Narayanan, CEO of Myntra. “Of course it will do sales, but more importantly it represents the brand and it gives us the chance to experiment with omnichannel technology which we will apply in many other areas.”
“For most offline stores the problem I think is driving traffic or footfalls, but for instance we know that there are 40,000 Roadster customers in this area. There are many things we know from the data we get on the app and we are deploying those learnings,” added Narayanan.