“M-Live, which is our foray into social commerce, has been accelerated for the first time during EORS,” Nandita Sinha, CEO of Myntra, told ET. “Over 1,000 live sessions hosted by more than 2,500 influencers, 750 of which are brand-led, will be on M-Live. The entire gamut of brands is participating in live commerce. So M-Live is going to be a big part of the EORS.”
Fashion retailers typically hold sales during June and December to sell leftover inventory from the season gone by. Myntra has been organising EORS twice every year since 2014, making this the 16th such event.
“This year’s EORS has come at an opportune time when customers are stepping out after almost two years, whether it is back to work, whether it is a social occasion, or Gen Z going back to college. All of this has given a great impetus to fashion overall and we are hoping to see that momentum,” said Sinha.
Sinha told ET that the company expects to see five million customers transacting in the six-day sale, with over one million of those expected to be new customers. About 40% of customers will be from tier-2 and tier-3 cities, she said.
Myntra expects a 26% jump in traffic for this year’s sale from last years, and a significant boost for its beauty and personal care business, one of the company’s key focus areas this year.
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Mac, Maybelline, Lakmé, Bath & Body Works, Anastasia Beverly Hills, Kama Ayurveda and others will participating in this year’s EORS.
In her first interview with media after taking over as CEO, Sinha told ET on February 24 that personalisation, influencer-led live commerce, and beauty and personal care would be key focus areas for Myntra’s leadership team.
The company’s focus on beauty and new ways of selling like live commerce comes amid increased competition in the fashion space.
Reliance’s Ajio has made significant inroads since the pandemic started and has emerged as a significant second player in the market. Beauty retailer
has also said it plans to sell fashion brands.
ET reported on April 16 that Flipkart had invested $116 million in Myntra.
To manage the spike in business, the company has tied up with 21,000 kirana stores in over 19,000 pincodes and expects them to fulfill 85% of orders. The company said its platform is will be able to handle up to 11 lakh concurrent users and 16,000 orders a minute.
Myntra has onboarded over 100 new brands ahead of EORS and increased its style selection by 40% from the previous July edition, the company said.
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