Flipkart-owned Myntra has announced the launch an in-house plus size apparel brand named Sztori, with an idea to enable ‘fashion for all’.
Sztori derives its name from the idea of developing a brand which is aiming to celebrate a person’s journey and spirit that has helped him or her go above shape and size.
Under this label, the fashion ecommerce platform will be selling designer wears which has been especially designed to suit a larger range of body shapes and sizes enabling customers to find perfect fit and multiple style clothing options at affordable rates.
Both men and women will find various range of products including tees, denims, tops, dresses and more in Large (L) to 4 times large (XXXXL) sizes with their prices ranging from $10.8 to $27.17 (INR 799 and INR 1,999).
Commenting on the launch, Manohar Kamath, CXO and Head, Myntra Fashion Brands said “Plus size clothing is in great demand and it was time we offered something substantial in the category, opening up more avenues and possibilities for our customers”.
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Quoting figures, Kamath also added that this segment will contribute to about $5-6 Bn in the $40 Bn Indian online fashion apparel market, by 2020.
Myntra’s Ongoing Efforts To Develop Its Private Brands
Private labels can be understood as a category in which certain products are manufactured by a third-party company and are sold under a retailer’s brand name.
For last few months, Myntra has been taking initiatives to develop its private label brands. Presently, over 14 private label brands have been responsible for generating 25% of its revenue. The platform is also expecting this share to grow to 30% by the next fiscal year.
Some of the major Myntra private label brands include Roadster, Dressberry,Anouk, Hrithik Roshan’s HRX, among others.
Myntra has in this month:
- Launched its ethnic wear brand ‘House of Pataudi’ along with Bollywood actor Saif Ali Khan last week
- It has started selling Deepika Padukone’s All About You at Walmart stores in Canada.
- The platform is also planning to launch nearly 100 offline stores in the next two years for Roadster and HRX
According to an ET report, the Indian online fashion market is projected to grow to $14 Bn in 2020 from the present $4 Bn.
Further, with this launch, Myntra will now have to compete with other players in the plus size clothing space including Abductindia.com, aLL Online, Amydus, CALAE, Larjjosa Fashion among many others.
Other than that, some other players such as Jabong, Stalkbuylove, Limeroad also offer plus size clothing on their platforms.
Myntra has been pushing its fashion private labels with an omni-channel viewpoint and now this has started reflecting in its category expansion as well. While plus size fashion may be available in select stores in Tier 1 cities, with a strong presence in Tier 2 and Tier 3, Myntra now seems to target the online shoppers in the small towns and cities of the country.
With India’s one of the most celebrated occasion, Diwali, around the corner, Myntra has certainly chosen right timing for the launch. Smart move Myntra!