Myntra to re-work on its brand through private beauty label.
07th, August 2017 - News
Myntra, online fashion portal is targeting $ 100-150 Mn business by March 2019 for its beauty and persona care segment source reported.
The fashion portal is in talk to launch its private label in six month.
This includes colour cosmetics for lips, nails and eyes and fragrances for both men and women in the lower end segment, including deodorants.
The portal will also launch its labels in men's grooming products, which make up one-fourth of revenue in the personal care category at present.
Private label’s yield is up to 35% margins for the online retailer vis-a-vis other brands where margins are 15% at most. Since the margin is high Myntra’s strategic move is to earn higher margin and acquire good customer base. With emphasis on growing the business in this category, Myntra plans to increase user engagement on the app.
The data shared by Myntra average basket size of the personal care shopper on the platform is one and a half times that of the average. The overall online personal market is pegged at care and beauty market is pegged at $150 million and set to grow100% over the next two years
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