Walmart-backed e-commerce platform Myntra has announced its international expansion with the launch of Myntra Global in Singapore, targeting nearly 650,000 Indians in the country.
According to Nandita Sinha, CEO at Myntra, the company has already been witnessing notable organic traffic from Singapore, with approximately 30,000 users from the country visiting their platform monthly, representing part of the 10-15% of Myntra’s web traffic that comes from international markets.
The expansion will focus primarily on Indian fashion, ethnic wear and home decor, with products being shipped directly from India with delivery timelines of 4-7 days. “Festivals, weddings, special occasions, are the big opportunities that we see as an existing gap we can fill,” Sinha noted.
The move will see Myntra offering approximately 35,000 styles from over 100 made-in-India brands including Aurelia, Global Desi, Libas, Rustorange, House of Pataudi, and Chumbak in Singapore. The company is targeting an average order value (AOV) of Rs 2,000-3,000 for its Singapore business. Meanwhile, in India the company’s AOV stands at around Rs 1400, albeit on a large volume base.
According to industry experts, Myntra will face stiff competition in Singapore, where several established players already cater to the ethnic Indian wear market. Retailers like Nalli Silks, JOVI Fashion, and Fab India already serve the Singapore market through physical and online presence with established customer base. The region also sees a strong mall-going culture which may limit online purchases, experts suggest.
Experts also point out that cross-border e-commerce challenges include customs clearance delays and higher shipping costs, potentially impacting customer experience. Myntra’s decision to ship directly from India rather than establishing local inventory could present logistical challenges compared to competitors with local presence.
Sinha emphasised that this initial phase is about learning and building product-market fit. “Our first step is to learn, to get the product market fit right, and then look at expansion,” she said. The company is leveraging its existing technology platform and brand partnerships rather than making significant new investments in infrastructure. When asked about pricing, Sinha maintained that it is “upto the brands to absorb or pass on the costs related to duties.”
Although the move marks Myntra’s first direct international entry, it has previously ventured internationally through partnerships. In 2020, it expanded into the Middle East through partnerships with regional e-commerce platforms Noon and Namshi, both part of the Emaar group in the UAE. The company’s then-CEO Amar Nagaram had cited the region’s demographic profile, high mobile penetration, similar fashion preferences, and large Indian diaspora as key factors for choosing the Middle East for its first international foray. Sinha, meanwhile, remained tight lipped about the company’s plans for other international markets.
Myntra’s Singapore expansion comes on the heels of the company turning profitable for the first time in FY24. It posted a consolidated net profit of Rs 30.9 crore as against a loss of Rs 782.4 crore in the previous fiscal year. This turnaround was driven by a 15% increase in revenue to Rs 5,121.8 crore. This financial stability could provide a strong foundation for Myntra’s global ambitions.