Enters
into an association with the two e-tailing giants, who now command
over 50% market share in the online fashion industry
Mumbai, June 18, 2014: India’s
first collaborative online fashion platform, Stylista.com has announced an
exclusive association with fashion e-tailer Myntra.com along with Flipkart.com,
who command a combined market share of a phenomenal 50% in the online fashion space.
The partnership will entail retailing Stylista’s limited edition designer clothing
on India’s leading fashion e-commerce platform Myntra.com, together with
Flipkart.com. With the rapid expansion of online retail in the country, this
exciting collaboration will provide shoppers greater access to affordable
designer wear.
Since its launch in November 2013, Stylista.com has caught the
attention of both the industry as well as shoppers thanks to its unique
selling proposition, i.e. limited
edition designer clothing at guilt-free prices. It is today India’s largest designer collective, offering collections from a host
of established as well as emerging designers. The first lot of
designer collaborations includes Wendell
Rodricks, Priyadarshini Rao, Nishka Lulla, Yogesh Chaudhary, Tanya
Sharma and Rinku Dalamal. The
second round, launching shortly, includes Masaba
Gupta, Shivan & Narresh, Neeta Lulla and musician and actress Monica Dogra’s debut fashion line.
Stylista has also developed its own on-trend private label called Stylista Original, all of which are now
available exclusively on Myntra.com and Flipkart.com under Rs 6,000.
Says Avnish Chhabria, CEO – Stylista.com,
“Stylista has grown by nearly 40% month-on-month since launch, and will now
target sales of over Rs 30 crores for its first year. Our association with Myntra and
Flipkart further strengthens our position by reaching out to a far larger
fashion conscious audience. Moreover, it leverages the need for affordable luxury and product differentiation in
a crowded fashion e-commerce marketplace. We couldn’t be happier to work with a team that shares our collective vision
and strengthens our value proposition. Indian shoppers are now increasingly asking for exclusive products and
are willing to pay a premium for designer garments. This opportunity lets our
designers reach out to a far larger consumer demographic and creates desire for
homegrown brands pegged to go global in the years ahead.”
Speaking on the collaboration, Mukesh
Bansal, CEO – Myntra.com & Head of Fashion – Flipkart.com says, “Myntra
has constantly endeavored to make the best and the most elite fashion brands
available to shoppers in every part of the country. We are extremely pleased to
announce our association with Stylista, as it establishes Myntra.com as a
coveted platform for designer labels to showcase their collections and reach out
to all fashion aficionados across the country.” He further adds, “This will be
a mutually beneficial association, as it will provide Stylista access to the
expansive consumer base of both Myntra and Flipkart.”
Adds Rishi Khiani, MD – Ant Farm
& Stylista.com, “We
have always believed in forging strong strategic partnerships – whether it’s
our designer collaborations or our manufacturing units. It has helped us build
brand Stylista faster than anyone has built a fashion brand in the country before.
In Myntra and Flipkart, we see a partner that has a very complimentary
long-term vision; this alliance gives us tremendous reach and we are very
bullish on the road ahead.”
This is the first initiative in the country to truly democratise
fashion and rely on homegrown talent to create a homogeneous brand. Stylista.com is a
vertically integrated company, which manufactures all collections in-house and
retails them online only, thereby cutting out the middleman and the mark-ups to
achieve disruptive pricing. All collections on Stylista.com retail under Rs
6,000.
