Myntra expands into gifting category with over 70k options across sections | Company News
As the country gears up for this year’s festive season, Myntra is expanding into the gifting category with a large selection of more than 70,000 options to choose from.
The Walmart-owned online fashion retailer said that India has a unique position where gifting occasions go beyond various festivals. There is also an evolution in the need for gifting, marked by newer occasions like gifting colleagues for promotions and farewells.
This, along with rising disposable incomes and exposure to global trends, is giving a fillip to the $72 billion industry, according to industry reports.
“Myntra’s gifting segment will give access to a wide assortment of more than 70,000 handpicked products,” said Sharon Pais, chief business officer, Myntra. “These include unique selections from renowned brands across accessories, home, beauty and personal care, as well as fresh products under one roof.”
Brands like Giva, Swarovski, Calvin Klein, Kama Ayurveda, Boat, Noise, Zoop, Chumbak, Home Centre, Tied Ribbons, and Kidbea are part of Myntra’s gifting portfolio. The firm has expanded into fresh categories, offering 3,000 products across cakes, flowers, live plants, and gourmet gift hampers. For this, it has partnered with gifting players including Smoor, Ferns and Petals, IGP, RawFruit, and Floweraura.
Some of the products from the gifting category will be deliverable on the same day in around 10 cities. Myntra is planning to add more cities in the next few months.
“We are featuring our exquisite selection of rare and imported flowers like hydrangea, peony, lisianthus, and alstroemeria,” said Tarun Joshi, founder, Interflora.
With occasions like Friendship Day, Raksha Bandhan, and Teachers Day coming up, Myntra is looking to offer products from over 100 brands across 50 categories.
During Rakhi last year, Myntra saw a 1.6X spike in demand in the top gifting categories like watches, perfumes, and gift sets.
First Published: Jul 25 2024 | 1:35 AM IST
