Brands, marketplaces expect a strong rebound this festive season
Brands as well as online fashion and beauty marketplaces Myntra and Nykaa expect a strong rebound during the festive season after a weak first half impacted by the COVID-19 pandemic. Myntra expects sales to double during the festive season compared to last year. The retailer is working towards scaling up festive season to two times that of last year. Marketing initiatives will be led by celebrities having a wide audience appeal cutting across regions.
Nykaa expects to grow 50 per cent on n omnichannel basis. Its fashion category is expected to become a Rs 500 crore business at an MRP or retail price level and grow by 6-7 times. The retailer expects a strong pickup in its makeup category, especially colour cosmetics.
In terms of brands, MamaEarth expects sales to grow three times over last year. It has been building stocks over the last four weeks. Though facing supply chain challenges, the brand expects to have enough stock by early October. Ethnic brand Raisin plans to launch more than 40 styles that work for intimate gatherings and festive celebrations. The brand expects online sales to contribute 35-40 per cent of its business.
