Quite similar to the Silk Route in the 2nd millennium BC, which traders from Europe used to enter China and other countries, the online route is making a revolution of its own. Leading foreign brands are entering the Indian commercial scene by establishing a presence in online marketplaces.
Indian marketplaces like Myntra and Amazon are tying up with fashion brands like Drunknmunky, Brooks Brothers, Mizuno, Jeep, Rockland, and Bjorn Borg among others to enable them to sell on their platforms. Thanks to a legal angle, foreign brands need not have a physical presence in India in order to sell online.
More phoren maal at desi marketplaces
Mayank Shivam, category leader at Amazon fashion, cites the boom in sale of foreign brands. He says,
“Our men’s apparel selection has grown over 450% since the launch with over 200% year-on-year growth in sales, and western apparel selection for women has seen over 800% growth in sales over the past one year. Customers can now shop for brands such as Superdry, Gas, Quicksilver, Gant, Calvin Klein, Roxy, Fossil, Steve Madden, The Hub, British Knights, CR7, Desigual, and Dune among others across categories.”
Likewise, foreign brands are making a beeline for Myntra too, says Gunjan Soni, chief marketing officer of Myntra Fashion. He explains how it is much more comfortable for a foreign brand to make an online presence felt in India,
“We have been getting calls from several brands. Lack of quality infrastructure and high real estate costs can be limiting for brands. Even the brands that have a physical presence here realise that they are only restricted to a few cities and online platforms can provide them a wider reach.”
Experts also endorse this view. Paresh Parekh, partner at Ernst and Young, says,
“It’s a win-win situation for all and brands are using this route to test the market.”
Hoping that this win-win works well for the Indian online commerce climate.
IN THE NE
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