Myntra Plans To Foray In Beauty Store Segment
Myntra.com, the country’s largest online fast-fashion retailer, is planning to enter India’s booming beauty market with a chain of brick-and-mortar stores selling multi-brand cosmetics and wellness items, according to two people familiar with the plans.
Myntra already sells more than 100 beauty and cosmetics brands including MAC, Clinique, Bobbi Brown, and Estee Lauder, on its ecommerce platform. It now plans to sell these products through a chain of multi-brand physical stores, one of the persons cited above said. Bindu Mendonsa will spearhead Myntra’s offline foray into cosmetics and wellness products.
This is the third extension into physical retailing by Myntra, which already runs an outlet for its private brand Roadster in its home city of Bengaluru.
Myntra is also the master-franchisee for Mango offline stores in India, where it also has online rights for the Spanish brand.
With the latest brick-and-mortar foray, Myntra will compete with a host of local and international chains including Sephora, Innisfree, Colorbar, and online player Nykaa-.com that operate such outlets.
Sephora currently runs 17 shops in India and plans to take the number to 50 in the next four years. Dabur also operates 85 beauty outlets called NewU across India.