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MUMBAI:
Myntra.com, in yet another first of its kind initiative, organised
its Annual Brand Meet – ‘Brick and click of Fashion’
on 22nd June 2012 at their campus in Bangalore.
Myntra’s
Annual Brand Meet witnessed over 60 partner brands, with CEO/MD's
of over 20 brands present along with VP’s and Business Heads
from rest of the brands coming together to discuss the basic essentials
on Brand Partnerships and Offline & Online Retail. The keynote
speaker at this event was Rajan Anandan, VP and MD, Google India.
Mukesh
Bansal, CEO and Founder of Myntra.com kick started the ‘Brand
Meet’ which brought together its strategic partners who believed
in the online platform and worked with Myntra over the last 18 months.
Myntra
has the largest online catalogue of over 350 international and national
brands currently available on its website and the ecommerce portal
is home to more than 400,000 visitors daily.
Speaking
at the opening session, Mr. Mukesh Bansal, Founder and CEO, Myntra.com
said, “We are pleased to have hosted first brand summit among
all e-commerce players. This was our way to thank our brand partners
for the role they have played in Myntra's growth and share our future
roadmap and vision with them. Brands universally applauded Myntra's
commitment to the current season, full catalogue model and healthy
business practices. We will continue to strengthen our relationship
with the leading brands that have helped us become the #1 player
in Fashion category.”
In
an intriguing and insightful discussion, Mr. Bansal took the guests
through Myntra’s journey since 2010 and also shared future
plans and projections of the leading Indian ecommerce retailer.
Myntra
plans to reach $1 billion in revenues within the next 5 years and
firmly cement its place as the largest online retailer in the fashion
and lifestyle space.
Reciprocating
Mr. Bansal’s view on the tremendous potential of the e-commerce
industry, Mr. Rajan Anandan, VP & MD, Google India said, “Globally,
the e-commerce industry is expected to be worth 900 billion USD
by the end of the year 2012. Compounded at the current growth rate,
in the next decade the e-commerce industry is expected to be worth
3 trillion USD.”
He
also spoke about the rapid growth of e-commerce and technology in
India. “E-commerce in India is at a tipping point. The number
of search queries related to shopping has gone up 18 times”
he said. Mr Anandan explained that there will be about 3.5 billion
internet users in 2012 (45% of the entire world's population will
be on the internet).
“Online
apparel market will grow to $2 billion by 2015. Not having access
to brands is definitely going to attract users to transact online.
E- Commerce is just the beginning.” says Mr. Anandan.
The
first panel discussion focused on brand partnerships and the challenges
faced in e-commerce. The panel included Rajiv Mehta (MD, Puma South
Asia), Gaurav Dublish (Promoter & Director – Wildcraft),
Chakor Jain (Business Head for LEE), Rajiv Bajaj (CEO, Fila India
and South Asia) and Ganesh Subramanian (CMO, Myntra.com) moderated
the discussion. This discussion focused on the 4 stages of partnership
between Myntra and the brands, various collaborative marketing initiatives,
forecasting demand, e-commerce strategies and understanding consumer
trends. The key take away from the session was the pressing need
to standardize body sizes across brands sold in the country.
This
was followed by the second panel discussion which focussed on the
best offline retail practices. This panel included Asif Merchant
(MD, Catwalk worldwide), Sandeep Mukhim (CEO, Proline India Pvt
Ltd), Abhishek Ganguly (Executive Director- Sales & Retail,
South Asia Puma), Ashutosh Vaidya (Director Sales - SAARC Region,
Luxottica India Ltd (Rayban)) and Moderator: Vikas Bagga (Enterprising
Practitioner). This discussion focused on best offline retail practices
that can be implemented in the online space. The panel also discussed
about doing exclusive brand launches and first look’s with
Myntra.
The
event concluded with a tour of Myntra’s warehouse followed
by a special fashion show put together using merchandise sold on
Myntra.com
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