American department store chain Macy’s plan to enter the Indian market by partnering with popular online retailer Myntra to offer its private brand portfolio will be a win-win situation for the two companies, opines GlobalData, a leading data and consultancy company.

Raviteja Neralla, Retail Analyst at GlobalData, comments: “Myntra will offer over 600 options from Macy’s private label brands, including Alfani, Jenni, Club Room Mens, and Epic Threads. Macy’s will be able to attract a wide range of consumer segments, with its brands covering a wide range of fashion trends and product categories. Macy’s’ offerings will be an addition to Myntra’s wide assortment of Indian and foreign-based brands.”

Myntra has gained popularity among the Indian millennials and gen-Z, with its ease of brand discovery, personalization, and digital-first strategy. The association with Macy’s is part of Myntra’s aim to consolidate popular international brands for Indian consumers, whose fashion sense has been evolving.

Neralla adds: “Indian consumers, especially younger generations, have a significant inclination towards Western styles and fashion.”

According to GlobalData’s 2022 Q3 consumer survey, 40% of Indian consumers typically purchase clothing & footwear from foreign or global multi-national brands. This proportion is even higher among 25 –34 and 35–44-year-olds, at 49% and 45% respectively.

Neralla concludes: “Macy’s decision to enter the Indian market through Myntra is aligned with Indian consumers’ growing inclination to purchase clothing & footwear online. About one in five (19%) of Indian consumers are buying clothing & footwear products online in 2022 compared to 10% in 2019, which means that the online penetration in clothing and footwear has doubled due to the COVID-19-induced transition. Macy’s has identified the rising online penetration of clothing & footwear in India, a rapidly growing market. This will give a boost to Macy’s overall online presence.”

* GlobalData 2022 Q3 Consumer Survey—India, published in September 2022

*GlobalData Market Analyzer