Myntra’s launches handloom brand 'Navibhu', look to tap into growing market

Flipkart owned online fashion retailer Myntra’s exclusive handloom brand ‘Navibhu’ was launched by India’s textiles minister Smriti Irani at an event in Bengaluru.
Myntra’s launches handloom brand 'Navibhu' -

With Navibhu and other brands on its platform Myntra is looking to tap into the growing handloom market in the country and eyeing a 10X growth in sales of handloom ethnic wear for women by end of 2018.
India Handloom Brand, an initiative of the ministry of textiles has witnessed a rapid growth with sales touching Rs 260 crore over the last two year on e- commerce platforms.
Myntra collaborated with the Ministry of Textiles for Navibu to give an opportunity to handloom weavers to market and sell their products on its platform. The fashion etailer has already put up selection under ‘Navibhu’ which includes 250 styles of traditional hand woven sarees, dupattas and other handloom products for its customers. The price range is from Rs 1000 to Rs 10000 (approx $15 to $1500).
Ananth Narayanan, CEO, Myntra & Jabong, in a statement said, "As a front runner in the fashion industry, we are proud to be part of the Government of India's initiative to preserve and rejuvenate our traditional handloom art forms. Our technology innovations, exclusive brand associations, omnichannel play as well as initiatives such as the brand accelerator program have helped us maintain a steady growth rate of 50% YOY and a leading market share of 40% along with Jabong."
Hon Minister for Textiles Smt. Smriti Irani, who launched 'Navibhu', said, "I wish Navibhu - a brand born with the richness of our culture and textile heritage - great success ahead."
Myntra which is eyeing profitability this fiscal has also joined hands with leading brands like Biba, Raymond, W, Peter England, Welspun, Chennai Silks, Metro among others to further expand its handloom portfolio on its platform.

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