Indian ecommerce unicorn Flipkart owned fashion subsidiaries Myntra and Jabong are now taking the plunge into the $400 Mn (INR 2750 Cr) Indian toys market.
Reportedly, Myntra has joined hands with online seller Primarc Pecan Retail as an exclusive partner in its initiative. The category will go live on the Myntra platform from today in line with children’s day celebrations. On the other hand, Jabong has partnered with the UK-based toys retail chain Hamleys. As per the terms of the deal, Jabong will soon launch Hamleys products on its platform.
Primarc Peccan Retail: Eyeing $153 Mn Revenue In 3-5 Years
Kolkata-headquartered Primarc Peccan entered into ecommerce in 2015 to operate under the marketplace model and as a fulfilment partner for brands. At the same time, the company also announced its plans to invest $10 Mn (INR 60 Cr) in the ecommerce segment by 2017.
Primarc had earlier partnered with Amazon India to build its consumables products business such as toys, health, personal care, household, gourmet and grocery.
As stated by Primarc Pecan CEO Kinjal Shah to ET, “Primarc Pecan Retail is poised for a 200% year-on-year growth and works with more than 400 brands. The company processes more than eight lakh units per month making it amongst the top ten ecommerce firm in the country. The company is eyeing $153 Mn (INR 1,000 Cr) revenue in the next 3-5 years”
He also stated that Primarc now aims to accelerate its growth with the monthly retainer model and will provide end-to-end ecommerce services to brands such as the option to run and operate their own online stores. Primarc will also foray into sales of apparel, home and beauty soon.