American department store chain Macy’s is set to enter India through e-commerce marketplace Myntra in the run-up to the festive season.
Myntra’s app hosted a ‘launching soon’ tag, along with the Macy’s logo very recently. The retailer will also offer a flat 25 per cent off on Macy’s inventory as part of a special launch.
It is to be noted that the launch, ‘only on Myntra’, is part of the retailer’s ‘Big Fashion Festival’ special set to start ahead of the festive season.
Retail sector experts in the past have said that foreign brands keen on India are happy to test this market through the online route, and Myntra has become a valuable partner due to its sheer customer base.
Macy’s entry into India via the online route bypasses the need to make big investments in offline stores.
The American omnichannel retailer combines macys.com and a mobile app, paired with a nationwide network of stores in the US that sell apparel, home, beauty, accessories and more.
It also retails third-party brands in its stores, such as jewellery label Pandora, Makeup Forever, Karl Lagerfield and Nike.
In 2020, Macy’s announced an updated strategy and three-year plan designed to stabilise profitability and position the company for growth.
This included a plan to build four US $ 1 billion power private brands besides scaling up and growing the company’s digital business.