The popular online fashion and lifestyle company Myntra has reportedly launched an ethnic brand with actor Saif Ali Khan known as ‘House of Pataudi’. The company co-owns majority of the brand along with the actor and Exceed Entertainment.
“We have seen a lot of searches for ethnic wear on Myntra and decided to launch a brand for both men and women for all occasions,” said Ananth Narayanan, CEO of Myntra-Jabong.
“We expect it to become the number one ethnic wear brand on Myntra in the next three years with a potential to have its own brand stores, but for now it’s only online,” he added.
Meanwhile, Myntra has plans to launch stores for some of its other private labels. The online fashion retailer aims to launch 100 stores in the next two years. Narayanan believes that ethnic wear in India is a Rs 70,000-crore market, with the majority of it being disorganized, making it a great opportunity for the Flipkart-owned company.
This development comes as Myntra continues to push its in-house brands, which form one-fourth of the company’s revenues.