and expansion of the e-commerce giant’s services to Singapore to cater to the Indian diaspora in the city-state.“Almost 650,000 Indians live in Singapore. While going through our data, we realised that about 30,000 of these users visit us on a monthly basis. That’s when we decided to launch Myntra Global in Singapore,” Sinha said at a press briefing. With this venture, Myntra is hoping to reach out to almost 12% to 15% of the Indian consumers in Singapore.
For now, Myntra’s Singapore customers will get access to its products through its website myntraglobal.com. The items on offer currently include Indian ethnic, festive, wedding and occasionwear for men, women and kids, as well as some home furnishing needs.
“These are made-in-India fashion and made-in-India brands, which will be sent from India to the world,” Sinha said. “Over 100 brands will be available on this platform, including House of Patoti, Anouk, Libas, and Global Desi. Today we have almost 35,000 selections available. We will be expanding this to 100,000 selections as we go forward.”
Partner brands will ship products to Singapore from inventory held in India. Myntra will be helping the brands with the shipping through a third-party international logistics provider. The shipping timeline is expected to be between 4-7 days, on average.
Pricing of the products could increase due to custom charges and international shipping costs. The Flipkart-owned online fashion retailer said it would leave it up to the brands to decide whether they want to absorb any additional costs or pass them on to consumers.
“For now we are limiting it to Singapore, learning through this launch, and then taking steps as we go forward,” Sinha said when asked if Myntra Global will be expanding to other countries. “I think almost 10% to 15% of our web traffic comes from international markets, and they are spread across as the Indian diaspora is spread. And therefore that was the opportunity we wanted to go after,” she added.The development comes months after Myntra received an $81-million funding infusion from parent Flipkart last November. It was an internal cash transfer and not fresh funding at a holding company level.
The Bengaluru-based company also turned profitable in the financial year ended March 2024. It reported a net profit of Rs 31 crore in FY24 against a net loss of Rs 782 crore the previous year. Operating revenue grew 15% to Rs 5,122 crore in FY24 from Rs 4,465 crore in FY23.
