From Tier II Cities to 9,700 Brands: Myntra’s Formula for Revolutionizing Retail in India

From Tier II Cities to 9,700 Brands: Myntra’s Formula for Revolutionizing Retail in India

How Myntra is not just riding the wave but steering it, redefining the retail landscape through cutting-edge technology, exclusive partnerships, and customer-first strategies.

By Nandini Banerjee, Managing Editor

Dec 13, 2024 / 29 MIN READ

In the ever-evolving world of retail, standing still is not an option. If there’s one brand rewriting the rules of fashion and lifestyle retail in India, its Myntra. With its innovative partnerships and relentless focus on customer experience, Myntra is positioning itself as more than just an e-commerce platform. It’s a powerhouse driving the growth of brands, enabling social commerce, and redefining how India shops. Venu Nair, Chief of Strategic Partnerships & Omnichannel at Myntra, boldly declares, “Retail is no more about offline or online—it’s omnichannel and beyond.” And he’s right. As India surges towards becoming the third-largest economy by 2026, the retail sector is undergoing a seismic shift, where collaboration and innovation are the new power moves.

Let’s dive into how Myntra is not just riding the wave but steering it, redefining the retail landscape through cutting-edge technology, exclusive partnerships, and customer-first strategies.

India: Retail’s Final Frontier

The numbers are staggering. India is already the fifth-largest economy and is set to leap to the third spot within just a couple of years. With over 900 million internet users, the country boasts the second-highest number of internet users globally, yet only 140 million are e-retail shoppers. Nair points out the jaw-dropping gap: “The headroom for growth is immense.”

The $130 billion lifestyle market is still dominated by the unorganized sector, comprising 66 percent of the pie. While grocery remains mostly unorganized, lifestyle categories are steadily shifting toward organized channels. With 22 percent of lifestyle retail happening offline and 12 percent online, there’s a vast runway for both to grow.

Beyond the metros, the untapped potential of Tier II and smaller cities is emerging as the next big opportunity. These cities now drive two-thirds of India’s retail consumption, and as disposable incomes rise, premium and luxury segments are experiencing rapid growth.

India’s demographics add another layer of intrigue. Unlike aging populations in developed nations, India’s under-25 population is growing, offering brands a vibrant and youthful market. “In 10 years, India will still be the only large economy with a growing young population,” Nair emphasizes. For global brands, India isn’t just another market—it’s the market.

With over 9,700 brands and 70 million monthly active users, Myntra is a titan in India’s lifestyle retail space. Its reach is unparalleled, servicing 95 percent of the country, and its partnerships with global giants like Mango, Nike, H&M, and Estée Lauder make it a force to be reckoned with.

Myntra’s omnichannel approach is a masterclass in modern retailing. The platform is linked to 4,500 physical stores, ensuring customers can shop wherever and whenever they want. This seamless integration between online and offline channels allows brands to expand their footprint into Tier II and III cities, where the appetite for premium and international brands is surging.

Nair proudly shares Myntra’s tech-driven edge: “Our innovations, like Fashion GPT and My Stylist, personalize the customer journey, offering curated outfit recommendations based on user preferences and trends.” Need to look sharp for a board meeting in Lucknow? Fashion GPT has you covered with an AI-curated ensemble. These innovations are why Myntra consistently scores an NPS (Net Promoter Score) north of 85 percent, a testament to its ability to delight customers.

The Power of Partnerships

Partnerships are the backbone of Myntra’s success. Nair likens their importance to food for survival: “We’ve moved beyond going solo. Today, it’s about a shared ecosystem—collaborations to serve customers the fastest, the latest, and at their convenience.”

Here’s how Myntra’s partnerships are reshaping retail:

1. Exclusive Collaborations with Global Brands

Mango, one of Myntra’s flagship partners, exemplifies the power of strategic alliances. Myntra has been the exclusive partner for Mango in India for over five years, growing the brand’s presence tenfold. Today, Mango boasts 50 stores in India, including four flagship locations, with Myntra managing the franchise operations.

The partnership isn’t just about physical retail. Mango launches over 2,500 styles per season, with 40 percent being exclusive to Myntra. Online campaigns featuring Bollywood diva Kiara Advani have racked up over 100 million impressions, blending influencer marketing with high-impact branding. “This strategy allows us to reach Tier II cities and beyond, making global fashion accessible across India,” says Nair.

2. Leveraging Influencers and Creators

In today’s social-first world, creators are king. Myntra works with over 10,000 influencers who showcase trends for the brands on the platform, driving engagement and conversions. With an engaged Instagram community and a strong presence on YouTube, Myntra’s content machine churns out 50,000+ videos across fashion, beauty, and home categories.

Through initiatives like Glam Clan, Myntra is democratizing fashion, giving micro-influencers a platform to shine. This not only deepens customer loyalty but also ensures Myntra stays at the forefront of trends.

3. Tech-Driven Personalization

Gone are the days of one-size-fits-all retail. Myntra’s cutting-edge AI tools ensure every customer feels seen and catered to. The platform’s My Stylist feature acts as a personal stylist, recommending outfits based on past purchases and even uploaded wardrobe photos. This hyper-personalization has become a game-changer, especially for premium customers, who contribute to half of Myntra’s total business through the Myntra Insider Program.

As India’s retail landscape continues to evolve, Myntra is doubling down on its omnichannel and partnership strategies. The platform is poised to leverage India’s growing middle class—expected to surge from 500 million to 700 million by the end of the decade—and the country’s insatiable appetite for premium and international brands.

But it’s not just about numbers. For Myntra, it’s about staying ahead of the curve, ensuring its customers always have access to the latest trends, the best brands, and an unparalleled shopping experience. Whether through collaborations with iconic names like Mango or the relentless pursuit of innovation, Myntra is setting the gold standard for retail in India.

Nair says it best: “India is the last frontier for global retail, and Myntra is at the heart of this transformation, driving change, creating opportunities, and shaping the future of shopping.”

Empowering Homegrown Brands with Myntra Rising Stars

India’s direct-to-consumer (D2C) boom is no secret, but Myntra has taken it to the next level with its Rising Stars Program. “This initiative accelerates growth for homegrown D2C brands across fashion, lifestyle, and beauty,” explains Nair. The numbers tell the story: over 850 brands, more than 2 lakh styles, and an impressive 65 percent growth in just one year.

How does Myntra achieve this?

  1. By offering brands unparalleled reach to their target customers.

  2. Leveraging a self-serve platform that empowers brands to operate seamlessly.

  3. Building tailored demand-generation strategies that drive brand visibility.

From cult favorites to emerging stars, Myntra has helped numerous brands scale new heights. “This list keeps growing, and we’re just getting started,” says Nair.

Crossing Borders 

In a world obsessed with global trends, Myntra’s Global Partnership Program ensures that Indian shoppers are never out of sync with international fashion. Through collaborations with global brands like Trendyol, Koton, Happiness Istanbul, DeFacto and Zalora, Myntra has created a seamless bridge between India and the rest of the fashion world.

“Using cutting-edge technology, we’ve made entire brand catalogs accessible in India, often in real-time,” explains Nair. Customers can shop the latest global collections, even if the inventory isn’t physically present in India. While delivery might take a little longer, shoppers are happy to wait for something truly unique.

This innovative model benefits international brands too, allowing them to tap into India’s booming retail market without heavy investments. “It’s a win-win,” Nair emphasizes.

Social Commerce: Turning Every Shopper into an Influencer

Move over Instagram and Amazon — Myntra is carving its niche in social commerce with initiatives that democratize influence. Enter the Ultimate Glam Clan and Myntra Minis.

The Glam Clan, launched recently, has already enrolled over 1 lakh users, turning everyday shoppers into influencers. Here’s how it works:

  • Customers create videos showcasing their purchases.

  • These videos are uploaded to Myntra’s platform.

  • If their content inspires a sale, they earn a commission.

“It’s a complete ecosystem where every customer can be a creator,” says Nair. Myntra Minis, meanwhile, lets users post TikTok-style videos, offering genuine reviews and creating a sense of community. “We’re not just working with professional influencers; we’re empowering regular customers,” he adds.

The result? A vibrant, authentic platform where creators and shoppers drive demand organically—something no other e-commerce platform has mastered.

Despite its achievements, Myntra isn’t resting on its laurels. “Social commerce is still in its infancy in India compared to markets like Singapore and Indonesia,” admits Nair. “We’ve scratched the surface with initiatives like Glam Clan, but there’s so much more to explore.”

Myntra’s partnership with YouTube, Flipkart, and other platforms shows its commitment to fostering a creator-driven ecosystem. From empowering influencers to collaborating with international brands, Myntra is playing the long game.

Exclusive Collaborations 

Myntra isn’t just about accessibility; it’s also about exclusivity. Think Stella McCartney x Adidas or Anamika Khanna x H&M. The latter’s collection sold out within an hour, a testament to Myntra’s unparalleled reach and ability to create buzz.

Then there’s the collaboration with L’Oréal for Paris Fashion Week, featuring a 360-degree activation with app exclusives, PR campaigns, and even a lipstick signed by Alia Bhatt. “These partnerships highlight our ability to bring something unique and desirable to our audience,” says Nair.

Foraying into Quick Commerce

Quick commerce has redefined customer expectations, and Myntra is adapting fast. With the launch of M Now, Myntra offers instant gratification—a curated selection of fashion and beauty products available for immediate delivery.

“Customers want things as soon as they see them,” says Nair. “It’s up to brands and retailers to meet this demand sustainably.” Myntra is also leveraging its vast network of 4500+ partner stores and 300+ brands to blend quick commerce with omnichannel retail. The goal? Deliver faster without compromising on variety or quality.

The Verdict

As affluence grows and customer expectations evolve, Myntra is poised to lead the charge. Whether it’s driving D2C growth, pioneering social commerce, or enabling quick commerce, Myntra is setting new standards in retail innovation.

“Collaboration is key,” concludes Nair. “To reach today’s ever-growing cohort of customers, businesses must innovate, partner, and engage in ways that are both efficient and meaningful. At Myntra, we believe we’re not just keeping pace but leading the way.”

In the ever-evolving world of retail, standing still is not an option. If there’s one brand rewriting the rules of fashion and lifestyle retail in India, its Myntra. With its innovative partnerships and relentless focus on customer experience, Myntra is positioning itself as more than just an e-commerce platform. It’s a powerhouse driving the growth of brands, enabling social commerce, and redefining how India shops. Venu Nair, Chief of Strategic Partnerships & Omnichannel at Myntra, boldly declares, “Retail is no more about offline or online—it’s omnichannel and beyond.” And he’s right. As India surges towards becoming the third-largest economy by 2026, the retail sector is undergoing a seismic shift, where collaboration and innovation are the new power moves.

Let’s dive into how Myntra is not just riding the wave but steering it, redefining the retail landscape through cutting-edge technology, exclusive partnerships, and customer-first strategies.

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