Online retailer Amazon India has launched its second in-house fashion brand ‘Myx’, an ethnic womenswear label, a couple of months after launching menswear brand Symbol.
Myx has been introduced in a bid to boost the e-commerce marketplace’s sales in the fashion segment, which is currently dominated by Myntra, a fashion e-commerce website owned by Flipkart.
“Amazon India is eight weeks into launching its private fashion label and early customer offtake has been good. The fashion category is one the largest categories and is right at the top in terms of units,” Arun Sirdeshmukh, head of Amazon fashion India said.
Flipkart-owned Myntra gets close to 25 per cent of total revenue from its private label brands. Myntra, Flipkart and Jabong have a collective market share of 55 per cent in the Indian online fashion segment.
Multiple reports have predicted that fashion will be the top category in India by the year 2020. It is already one of the top three selling categories in a majority of horizontal marketplaces.
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