Top 5 Online Fashion Brands Dominating eCommerce Industry in India
You’ve got to know the top online fashion brands in India.
India is one of the leading eCommerce markets across the world. As per the report by Statista, the total retail eCommerce sales in the year 2017 was 20.06 million US dollars and it is expected to reach 52.3 million US dollars by the year 2022.
The increasing eCommerce market creates an urge to look at how the fashion industry is taking the league further in this growing eCommerce industry.
So, coming back to the fashion market in India, it is expected to grow by 3.5 fold to reach 14 billion by the year 2020.
In one of my session, I have mentioned that “Market leaders are not made on day one. It takes their blood and sweat to become one.”
And, here we are talking about the leading fashion portals in India. We won’t be covering on what all products you should buy from these fashion portals, but rather we are discussing here how these market leaders actually dominate the online commerce industry.
We have listed the top online fashion brands in India based on the following area:
- How has the fashion brand started?
- What challenges did they face?
- Which decisions did they make that influence their success?
Leading Online Fashion Brands in India
Myntra is an Indian eCommerce fashion brand since 2007 and it was acquired by Flipkart in 2014. Previously, Myntra was just a B2B platform for personalized gifts and now, it has become India’s leading fashion brand.
Well, as we discussed, the Indian eCommerce market has been just worth USD 3.9 billion back in the year 2009 which had raised to USD 12.6 billion in the year 2013. So, during 2011, Myntra realized the growing eCommerce industry in India and the business model of Myntra was changed from B2B to the marketplace. This opened the doors of success for Myntra.
We can say it was the wise decision to change it to the marketplace by looking at the stage it has reached. If we talk about the recent report by Economic Times, Myntra involves their local neighborhood store network for about 60%. With this initiative of “Mensa Network”, Myntra is now connected to 6200 stores across 50 cities in India. This is helping Myntra to connect with the local stores for deliveries and helping the stores to improve their revenues.
Even this is helping Myntra to stay in the top position among the Indian eCommerce fashion brands. So, here we go to our next top eCommerce fashion brand in India, Jabong.
Jabong is an everything-fashion portal since the year 2011. The brand was launched with a bang and stood on the 1st position of attaining the highest traffic among the other Indian eCommerce giants within a few months, as per the report by ComScore in September 2012.
It is the only online fashion store who had begun with both- inventory as well as the marketplace model in India. And, the excellent customer service was Jabong’s strength.
This leading fashion brand has seen a lot of growth until the 2015 year end. And finally, Flipkart-owned Myntra acquired this leading e-tailer Jabong in July 2016. The agenda behind this acquisition was to remain India’s largest fashion store and also to take the benefit of Jabong’s strong and loyal customer base.
Even, Walmart plans to take benefit from Myntra and Jabong. The CEO of Walmart International says, “They’re really interesting, in the speed they’re growing at and the mix that they provide with the overall e-commerce business as well.”
Koovs is another leading online fashion brand in India since 2010. After its launch, it became famous for offering great discounts on fashion products. Because the Giants were not well-known in India during those days, Koovs managed to settle in the top brands in India.
Before moving on to an eCommerce platform, Koovs used to be a micro marketing platform. This platform used to help small businesses to increase their sales through its platform. Later, Koovs moved to an inventory-based eCommerce platform.
The Executive Chairman of Koovs said that the company is looking to raise 23 million pounds in the year 2018. While competing with the largest fashion portals, Koovs managed to be in the top list by transforming into a niche industry.
Tata CliQ is a “Phygital” eCommerce venture by Tata Group, which was launched in the year 2016. TataCliQ launched to provide the customers of their brand partners to experience online shopping just like they would do in a mall.
It launched in 2016 and today, it is standing among the top market leaders in the online fashion industry. But, Tata CliQ is completely opposite to what other online fashion digital leaders are offering.
This brand is a hyperlocal omnichannel marketplace. And, Tata CliQ is a brand-only fashion eCommerce store in India which only works with brands’ authorized sellers. So, any discounts that the brands have in their physical stores, the same are enjoyed by the customers shopping online.
Tata CliQ is proud to have lesser buyers compared to other market leaders, but, they have a huge ratio of repeat customers. Making it a unique yet strong market leader in online fashion brands in India.
Voonik is a not-so-old online fashion brand in India that started its journey in 2013. It is purely a fashion marketplace for women. Here, retail stores can register their business and sell their products.
The idea of the owners behind launching Voonik was to offer highly personalized fashion products for the women. Women can choose fashion products as per their body type, skin tone, style, and budget preferences.
But, no fashion eCommerce brands except Voonik that launched directly a mobile app, and then they developed their web store.
So, by the year 2016, Voonik became the 2nd most downloaded mobile fashion app. And, the reason behind their success is that they have a team of well-trained fashion stylists. This team constantly works on recommending the kind of clothes, their customers should pick up as per their preferences.
Also, Voonik acquired 3 more startups which made it marked with the market leader in the industry.