BUSINESS OF E-COMMERCE
E-COMMERCE Amazon India launches Forever 21
Pic courtesy: Forever 21
Amazon India has announced the launch of Forever 21 on Amazon Fashion. The launch has strengthened Amazon Fashion’ s commitment to bring the latest fashion trends and a selection of choicest global brands to customers’ doorsteps across the country. The launch adds yet another brand to Amazon Fashion’ s growing portfolio of women’ s western wear brands.
The American fast fashion brand has an eclectic mix of over 1,000 trending styles across women’ s apparel, shoes, bags and jewellery.
Fynd adds 8500 brand stores on its network
Pic courtesy: Fynd
Fynd, India’ s innovative online fashion portal, has marked its position as the country’ s largest omni-channel network, with a massive integration channel that spreads to every corner of the country. Fynd, which is on a rampant integration spree with numerous stores added as its partners each month, has already added over 8,500 brand stores on its network.
This has ensured that Fynd provides the fastest delivery of products amongst all the e-commerce players, while maintaining impeccable quality of items.
Fynd has achieved an inventory figure of 500,000 units, which is at par with the biggest e-commerce players in India. Thus, chances are pretty slim for buyers on Fynd to come across those frustrating‘ Out of Stock’ notifications.
RETAIL
H & M to begin online sales in India next year
Hennes & Mauritz( H & M), the international retailer known for fashion and quality at the best price in a sustainable way, will roll-out online sales in India next year. This is an initiative by the Sweden-based retailer to meet the increasing demand from India. The group’ s e-commerce sales are estimated to grow by at least 25 per cent per year going forward.
Overall, H & M is continuing to improve the online store and are adding more and faster delivery options, while at the same time further broadening the range of products online. In some of H & M’ s established markets, online sales account for nearly 25-30 per cent of the total sales.
Zara begins e-sales in India
In line with the ongoing international expansion of its integrated store model, fast fashion brand Zara has begun its online sales in India. The Spanish retailer will be selling its products throughout the country via website and
Pic courtesy: Zara
mobile application.
The range found in all the 21 stores of Zara across eight Indian cities will be available online for selling, said Echevarria Hernandez, chief communication officer of Inditex, in a statement.
In a span of 2-4 working days, the deliveries will be made to metro cities including Mumbai, Delhi, Ahmedabad, Kolkata, Chennai, Hyderabad and Bangalore, while for the remaining areas, it will take around 5-8 working days.
FASHION
Myntra wins India master distribution rights for Esprit
Global casual fashion brand Esprit has granted Indian firm Myntra its master distribution and management rights in India. Myntra plans to curate and facilitate 15 Esprit stores in the country over the next five years and list the brand exclusively on Myntra and Jabong platforms. This will enable Myntra to establish and strengthen Esprit’ s presence in India.
Pic courtesy: Myntra / Esprit
The association of the two companies started in November 2016, when the first Espirit collection was launched online on Myntra. Hong Kongheadquartered Esprit, founded in 1968 in San Francisco, has performed extremely well on Myntra’ s platform, according to a press release from the latter.
HOME TEXTILES
Amazon trying to enter Turkish home textile product market
Amazon has noticed Turkey’ s potential in e-commerce and is discussing with the Turkish ministry of economy to enter the market there, according to Süleyman Kocasert, chairman of Denizli Exporters’ Association( DENIB), which represents exporters based in Denizli, an industrial city in the country’ s southwest dubbed as‘ the capital of textile’.
Top executives of Luxembourg-based Amazon Europe, hosted by Turkey’ s ministry of economy, met DENIB exporters and briefed them on possible ways of cooperation and trading methods on the Amazon platform. They also inspected the production technology, quality and delivery speed at the manufacturing sites, Turkish media reported.
As e-commerce in Turkey is in its initial stage with a share of less than 5 per cent of the total home textile product exports, cooperation with Amazon will offer the needed boost to the country’ s trade, Kocasert said. He expects Amazon to quickly increase its purchases from Denizli.
NOVEMBER 2017 FIBRE2FASHION | 39