The online to offline play is getting even more serious for Flipkart’s subsidiaries in the online fashion space, under the new Walmart management, it seems. Myntra is reportedly scouting for real estate in major metropolitan cities to set up its offline retail stores as per a report in the Economic Times. Myntra appears to be planning to open smaller 3,000 square feet properties for the cosmetics range and larger 20,000 to 30,000 square feet space for opening departmental stores. Some of the formats the company would look to start include ‘Myntra Women’, ‘Myntra Sports’ and ‘Myntra Beauty’. Most of these will be run on franchise, it is learnt.
The ET report further states that they have confirmed with some real estate agents and executives in malls that Myntra is indeed busy looking for space, though the official spokesperson has declined to comment. That Myntra has been planning to open its Roadster brand stores all over the country has been no secret nor is it new. It has been in the air for months. In fact, there is already one operating in Bengaluru.
Myntra may choose to house their international brands in the medium sized 10,000 to 12,000 square feet stores and the larger 20,000 square feet and above may be meant for the departmental stores format which may compete with the existing players like Lifestyle and Shoppers Stop.
This aggressive move by Myntra is seen by many as aimed at providing a more wholesome experience for their customers with the offline stores helping the customers get the physical feel of the products and turn more confident while shopping online. The other strategy being seen by the experts is that having grown some top international brands, many of which Myntra owns, the offline retail format will only strengthen its position. In this space, it has to compete with Reliance Brands and Arvind Brands. The market is there to be conquered and the race will be duly joined, when Myntra opens these outlets.
It may be recalled that Myntra has in its stable, brands like Esprit from Hong Kong and Mango from Spain for which they hold the franchise in India. There are also rumours that they are in talks with another popular fashion brand Dorothy Perkins from the UK.
Going ahead, there are plans by Myntra to open 100 offline stores.