Indian Economy News

Myntra aims to onboard 500 D2C brands under new program to push Make-in-India

  • IBEF
  • August 1, 2024

Myntra is set to onboard 500 direct-to-consumer (D2C) beauty and grooming brands by the end of the year as part of its new initiative, the Beauty Edit of Myntra Rising Stars. This program aims to accelerate the growth of made-in-India brands by focusing on unique offerings that cater to evolving beauty needs. The Beauty Edit will feature diverse products, including Korean beauty items, science-based products, and vegan and natural options, supporting digital-first beauty brands in India’s burgeoning market.

Ms. Sharon Pais, Chief Business Officer at Myntra, emphasized the importance of connecting brands with the right audience in India’s rapidly evolving beauty and personal care sector. The industry, currently the fourth largest globally, is projected to reach US$ 30 billion by 2027. The Myntra Rising Stars program has already delivered notable success, with brands such as Rare Rabbit, Snitch, and Fable Street experiencing an average demand growth 2X.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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