Fashion e-tailer Myntra in association with one of its franchise partners today launched the first retail store for its “top selling” outdoor lifestyle brand ‘Roadster'.
The company officials said with the launch of this store, Myntra has set the stage for an established online brand like Roadster that contributes over 8 per cent to the overall revenue of the platform, to have an omnichannel presence.
The launch of the first physical store for Roadster is a milestone for Myntra.
Roadster has witnessed phenomenal growth at over 80 percent YoY and is well on its way to achieving a run rate of Rs 1000 crore by FY 19.
Its entry into the offline segment will further boost its prospects,” Myntra CEO Ananth Narayanan told reporters.
When asked whether Myntra wants to be best known as the offline or online player, he said, “We are a fashion and lifestyle player. We want to use technology to democratise fashion and lifestyle.. we bring fashion and technology together.”
Responding to a query on launching such stores in other cities and for other brands sold under Myntra, Narayanan said, “For now this is the store when we are ready we will talk about it.. we will do it as we learn from this..”
The company officials said the store is loaded with technology at every step and promises a brand experience.
The store features several new elements to engage customers, this includes a video wall, controlled by shoppers through a futuristic, multifunction touch-interface to showcase the intricate details of Roadster products and provide an update on key international trends and communicate the brand story.
The store is also equipped with multiple touch screen displays which provide data on key looks and the Roadster catalogue, the company officials said adding that the unique ‘Scan & Go’ purchase mechanism allows shoppers to add their favourites to their shopping cart on the Myntra App, doing away with shopping bags, check out counters or billing queues.
There will be 100 per cent price parity between online and offline, Myntra Head (Fashion Brands) Manohar Kamath said in response to a question.
He further said that curation of the offline segment is an important step for their private label business which is an integral part of the company’s portfolio of offerings.