SUMMARY
While H&M's collaboration with Myntra will persist, AJIO will also become a platform for H&M products
This expansion of H&M's online presence is a strategic move for the Swedish brand
Exclusive partnerships with well-known fashion brands can significantly boost the appeal of a fashion ecommerce platform
Reliance Retail’s fashion ecommerce platform, AJIO, is gearing up to feature products from the renowned Swedish fast-fashion giant, H&M, on its website. This move potentially hints at a significant shift in the exclusive partnership between H&M and Myntra.
While H&M’s collaboration with Myntra will persist, AJIO will also become a platform for H&M products, Mint reported. This expansion of H&M’s online presence is a strategic move for the Swedish brand.
“While we cannot comment on market speculation, our endeavour is to tap into the high-potential market in India. Our primary goal is to be the preferred shopping brand, which is not only fashionable but accessible to all. To keep up with the ever-evolving ecommerce and digital landscape, we are leveraging our strong brand presence and customer loyalty to effectively penetrate the market,” Yanira Ramirez, country sales manager, H&M India Pvt. Ltd, said , as quoted in the report.
Ramirez said that H&M’s partnership with Myntra has not only met but exceeded their expectations. This collaboration has played a pivotal role in making the H&M brand more readily available to its Indian customer base. As H&M marks its eighth anniversary in India, Ramirez conveyed her enthusiasm for the future, and the aim of extending offline and online brand presence.
H&M made its debut in the Indian market back in 2015. In 2018, the fashion retailer took its operations online with the launch of its own store and app. A year later, a partnership was established, designating Myntra as the exclusive online marketplace for H&M’s offerings.
An email sent to Reliance remained unanswered at the time of publishing this article.
Exclusive partnerships with well-known fashion brands can significantly boost the appeal of a fashion ecommerce platform, experts told Inc42 earlier. It not only draws in a broader audience but also cultivates a perception of exclusivity and uniqueness.
Hence, this partnership is poised to be a game-changer for AJIO. Earlier this year, it was reported that fast fashion brand Shein is planning to re-enter India in partnership with Reliance Retail. Under this partnership, Reliance Retail would sell Shein products in offline stores operated by the retailer as well as through its ecommerce app AJIO.
With such strong partnerships, AJIO is emerging as a bigger threat to its rivals such as Myntra, Nykaa Fashion, among others. Meanwhile, fashion has emerged as the largest category in online retail in India due to a maturing user base, accounting for 37% of the overall online shopping ($60 Bn GMV) currently, according to RedSeer, a consulting firm.
