Myntra launches ethnic brand with Saif Ali Khan to tap into unorganised market

Flipkart's fashion arm, Myntra, has launched an ethnic brand with Bollywood actor Saif Ali Khan. The label known as House of Pataudi is co-owned by Myntra, Khan and Exceed Entertainment. Myntra that co-owns majority of the brand wants to tap into the largely unorganised ethnic wear market with this label.

The company is trying to push its in-house brands all of which form one-fourth of the company's revenues. Ananth Narayanan, CEO of Myntra-Jabong said that they have seen a lot of searches for ethnic wear on Myntra and hence, decided to launch the brand, as mentioned in a report in The Economic Times.

Narayanan believes that ethnic wear in India is a Rs 70,000 crore market, majority of which is in the disorganised sector. This makes it a great opportunity for Myntra.

Narayanan added that they expect House of Pataudi to become the number one ethnic wear brand on Myntra in the next three years. He also said that the label has potential to have its own brand stores.

Additionally, Myntra also has plans to open stores for some of its other private labels. It aims to launch 100 stores in the next two years, out of which 50 will be for the Roadster brand, which is Myntra's fastest-growing outdoor lifestyle brand, followed by HRX. HRX is Hrithik Roshan's athleisure brand, with majority stake owned by Myntra.

HRX with annual sales of over Rs 100 crore is one of the five most-selling brands on Myntra. The company expects House of Pataudi products to also fly off the shelf like HRX, not only because of the Saif Ali Khan factor but also due to lack of ethnic wear labels in India.