Online fashion platform Myntra is eyeing Rs 500 crore revenue over the next three years from the jewellery vertical on its platform.
As part of its expansion plans, it has partnered with Tata Group's jewellery brand Tanishq.
"As part of the partnership, Mia by Tanishq, a fine collection of work-wear jewellery will now be available on Myntra. The jewellery is designed especially for the modern working women and the range includes earrings, rings, bangles, pendants and bracelets, priced between Rs 3,000-50,000," Myntra Head e-commerce Platform Prasad Kompalli told PTI.
He added that the foray into the fine jewellery segment is aimed at making Myntra a major online destination for purchasing jewellery.
"We are looking at a revenue of Rs 500 crore in the next three years from the segment. We will also bring in more choices for the customers," he said.
Deepika Tewari, General Manager Marketing (Jewellery Division) at Titan Company said the association will help the firm widen its reach and cater to a larger audience of working women who are increasingly shopping online.
The overall jewellery category in the country is currently estimated to be about Rs one lakh crore and around 80 per cent of this is contributed by fine jewellery category.
Around 2 per cent of the overall jewellery market in India is retailed online.
Esprit embraces a full Omni-channel approach to retail
operations worldwide. This key partnership is a major step towards this in India.
Established in San Francisco in 1968 as an international fashion brand representing style and quality, Esprit has served a generation of people who wanted to live their lives in a special way.
It is an inclusive brand, inspired by real people and emotions, is daring, creative, passionate, free spirited, unconventional and unique. Under its product lines, Casual, Collection and edc, Esprit offers casual fashion with the perfect quality and outstanding value for money.
Myntra has emerged as India's leading fashion e-tailer and home to the largest selection of International premium fashion brands. With over 30 global fashion leaders on the portfolio, Myntra offers the widest selection of men's and women's fashion and accessories for the discerning Indian customer.
About Myntra:
Myntra is India's leading platform for fashion brands and pioneer in m-commerce play. Myntra has partnered with over 2000 leading fashion and lifestyle brands in the country such as Nike, Adidas, Puma, Levis, Wrangler, Arrow, Jealous 21, Diesel, CAT, Harley Davidson, Ferrari, Timberland, US Polo, FabIndia, Biba and many more to offer a wide range in latest branded fashion and lifestyle wear. Myntra services over 19,000 pin codes across the country. With the largest in-season product catalogue, 100% authentic products, Cash on Delivery and 30-day Exchange/Return policy, Myntra is today the preferred online shopping [http://www.Myntra.Com ] destination in India.
About Esprit:
Founded in 1968, Esprit is an international fashion brand that pays homage to its roots and expresses a relaxed, sunny Californian attitude towards life. Esprit creates inspiring collections for women, men and kids made from high-quality materials paying great attention to detail. All of Esprit's products demonstrate the Group's commitment to make the consumers "feel good to look good". The company's "esprit de corps" reflects a positive and caring attitude towards life that embraces community, family and friends - in that casual, laid-back California style. The Esprit style.
Esprit's collections are available in over 40 countries worldwide, in more than 900 directly managed retail stores and through over 7,800 wholesale points of sales including franchise partners and sales space in department stores. The Group markets its products under two brands, namely the Esprit brand and the edc brand. Listed on the Hong Kong Stock Exchange since 1993, Esprit has headquarters in Germany and Hong Kong.
For further details, please contact
Myntra
Farheen Akhtar
+91-9810558110
Farheen.Akhtar@myntra.Com
Priyanka Waghre
Priyanka.Waghre@myntra.Com
+91-9886729295
Torque Communications:
Richa S Sheth
+91-9986241443
Richa@torquemail.
