Puma India banks on Myntra partnership for growth
Global sports brand Puma is banking on its partnership with e-commerce major Myntra for growth in the Indian market and expects to achieve a revenue of Rs 500 crore ($67.7 million) in gross merchandise value (GMV) next year from the platform.
Puma has been selling on Myntra’s platform for the last 10 years and expects the partnership to grow further with the addition of new categories and products on the platform in the coming years.
The brand plans to scale women’s wear offering, double down on kid’s collections and expand its sneaker collection in the coming months.
“Myntra is an important and strategic partner for Puma. Its positioning as a premium platform helps us connect with customers, both for fitness and athleisure. Myntra has always provided the right kind of support for a brand like ours to grow on the platform,” Abhishek Ganguly, managing director Puma India and South East Asia, was quoted as saying by the Economic Times.
Amar Nagaram, CEO of Myntra added: “As a marketplace, we aim to bring the best brands from around the world to our consumers and the partnership with Puma is an extremely special one. Puma is the No 1 global sports brand on Myntra and the reason this partnership is seeing phenomenal success is that we both are equally obsessed about our consumer and giving the best value for money.”
According to Myntra, Puma is delivering the highest growth in the sports category, clocking over 60 percent post-lockdown and during the festive season grew by 253 percent, as compared to the same period last year.
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