Bangalore-based fashion e-commerce site Myntra is preparing to open its first office in London to lead its partnerships with brands in the UK and Europe.
The opening is said to come ahead of its expansion to New York, set to take place in a year. The etailer, which was acquired by online department store Flipkart earlier this year for an estimated 370 million dollars, has appointed Mark Sebba, former chief executive officer of Net-a-Porter as an advisor in the lead up to the opening of its London office.
Gautam Kotamraju, vice president of fashion brands at Myntra, believes that working with international fashion industry experts will help the etailer build a strong relationship with potential new customers.
“We, as a market, still look to the West for our fashion inspirations. London is a fashion Mecca and building expertise there will help us be a credible fashion destination for consumers,” commented Kotamraju.
According to recent research from Gartner, the Indian e-commerce market in the Asia-Pacific is predicted to reach 6 billion dollars by 2015, a 70 percent increase of 3.5 billion dollars in revenue for 2014.