Myntra, a prominent Indian fashion, beauty, and lifestyle platform, recently launched a unique program called Myntra Rising STARS. This comprehensive initiative aims to strengthen the Direct-to-Consumer (D2C) ecosystem in the country and unlock growth potential for onboarded D2C brands. As an equal partner in this journey, Myntra provides full-funnel support, focusing on building awareness, driving consideration, and fostering conversations.
Sharon Pais, Chief Business Officer (CBO) of Myntra, in an interview shared the details of Myntra Rising STARS and how it empowers D2C brands.
The Genesis of Myntra Rising STARS
The D2C landscape in India holds immense potential for growth, and with numerous fashion brands emerging in recent years, digital-first brands are poised to revolutionize how fashion is consumed. The fashion D2C market in India is projected to reach $43.2 billion by 2025, driven by increasing digital penetration and the rising popularity of digital-first businesses. As one of India’s leading fashion, beauty, and lifestyle platforms, Myntra saw an opportunity to offer a dedicated and focused program to empower brands in this ecosystem to realize their true potential and cater to the evolving fashion needs of the country. Thus, Myntra Rising STARS was born, aiming to bring D2C brands with unique offerings to the forefront, enhance their brand visibility, accelerate growth, and facilitate scalability.
Onboarding 200 Brands and More
Myntra plans to onboard around 200 brands in the next four months, catering to renowned and emerging D2C made-in-India brands with unique propositions for customers. Brands will be shortlisted based on objective criteria, such as brand size, social media followership, and product proposition uniqueness.
Supporting Growth of D2C Brands
Despite significant investments, some brands face challenges in attaining scale, both in terms of revenue and brand salience. Myntra Rising STARS aims to help brands leverage Myntra’s scale and expertise in brand building and compelling storytelling. The program offers differentiated customer experiences and a range of services at an optimized cost, fostering awareness, consideration, and conversions to drive brand growth and success.
Comprehensive Services for Onboarded Brands
Onboarded brands can access fee-based dedicated strategic account management services and insights to scale their brand presence and reach. The program also offers segment-based incentive structures, working capital support, and Myntra’s speed proposition, M-Express, ensuring enhanced and delightful customer experiences. Brands can communicate their stories and identity effectively, strengthening their brand salience. Collaboration opportunities with Myntra across on and off-platform campaigns help brands amplify their reach and engage with customers effectively.
The Rising STARS Store: A One-Stop Destination
Myntra’s app hosts the Rising STARS store, a one-stop destination for D2C fashion and lifestyle brands. With over three lakh styles from brands like Neemans, Suta, Rare Rabbit, BlissClub, Fablestreet, The Souled Store, and Bewakoof, among others, the store aims to showcase the richness and versatility of these brands through engaging storytelling. Myntra plans to enhance product capabilities and build engaging customer journeys to highlight the uniqueness of the portfolio.
Advantages for Shoppers
Shoppers can easily discover differentiated offerings from brands, keeping them updated on the latest trends. The program provides brands with enhanced visibility on the platform, exponentially increasing brand awareness. Tech-enabled consumer journeys facilitate immersive product discovery, optimizing inventory and catering to specific customer demands. Myntra’s best-in-class customer experience, including M-Express, provides a competitive edge in the fashion ecommerce space.
A Diverse Range of Brands
The Rising STARS program aims to nurture brands across the entire fashion and lifestyle spectrum. D2C brands occupy niches and cater to evolving consumer needs, offering differentiated product offerings. Their agility in innovation enables them to stay ahead of trends and meet the demands of digital customers.
In conclusion, Myntra Rising STARS is set to empower D2C brands in India, unlocking their growth potential and reshaping the fashion landscape. With Myntra’s full-funnel support, onboarded brands can anticipate accelerated growth, increased brand salience, and a thriving future in the dynamic world of fashion ecommerce.
