Urbanic 'E-commerce Brand' reports strong sales on first day of listing on Myntra
6th September 2021, Mumbai:
London-based e-commerce brand Urbanic reported strong sales on day one of its listing on online fashion portal Myntra.
Within the first 12 hours of listing on Myntra—Urbanic sold 23,000 pieces largely tops, dresses, and jeans. Close to 55% of purchases were recorded from non-metro cities. In all, Urbanic sold over 50,000 pieces on day 1 of listing.
Myntra onboarded Urbanic earlier this month—marking it Urbanic's first partnership with an e-commerce marketplace. Urbanic works with thousands of influencers. It retails in India, Latin America, Russia via its online platform and app. In India, the brand’s app has over 15 million downloads. Urbanic sells casual western wear clothing such as t-shirts, jeans, dresses and accessories. It listed on Myntra on 1 September.
Online tie-ups have gained spotlight in the post pandemic world as users shift more to shopping online. As a result, marketplaces as well as brands are stitching up more partnerships or deepening existing ones. Urbanic has a high salience among Gen-Z shoppers. Ayyappan Rajagopal, Chief Business Officer, Myntra, the company’s collaboration with Urbanic will provide Gen-Z a shorter route to express themselves and stand apart.
TOP 5:
- Reliance Retail poised to foray into saree, ethnic wear stores
- Hari Krishna Agarwal has been appointed as the new MD of Grasim Industries
- A Delhi court has ordered the company to stop using Gucci's mark on their products and to pay damages
- MP (India) has a lot of room to expand in the Textile industry: Shivraj Singh,CM (M.P.)
- Telangana (India) has requested a one-billion-dollar grant from Prime Minister Narendra Modi for the Warangal Textile Park
Watch YouTube: https://www.youtube.com/channel/UCnQ6v9wBHyOlRPSDgJMsJaA
