Nair joins Myntra from offline shopping chain Shoppers Stop, where he was the managing director and chief executive officer for about three years. At Myntra, he will be responsible for the international brands portfolio, and for “building strategic partnerships with leading global brands,” the firm said in a statement. Nair will also be managing omnichannel strategy for brands at Myntra.
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Prior to Shoppers Stop, Nair was chief commercial officer at Tata Group’s retail arm Trent Ltd, and the chief executive of the Westside chain of apparel stores. At Trent, he had also led the commercial operations of apparel chain Zudio and bookstore chain Landmark, Myntra said in a statement.
Before his work with the Tata Group, Nair was the managing director of Marks and Spencer in India, which runs in a joint venture with Reliance in the country.
The appointment comes at a time when a plethora of brands, especially in the D2C segment, are pursuing an omnichannel strategy that combines online presence with physical stores to boost sales. On the other hand, widening the range of brands, especially popular foreign brands, is an important driver of sales for fashion ecommerce firms.
In an interview on January 24, Myntra chief executive Nandita Sinha had said that the firm gets about a quarter of its revenue from international brands. Myntra added over 50 international brands in 2023, and has a total of over 400 international brands.
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On Feb 14, ET reported that French brand Kiabi, which focuses on affordable apparels, is set to enter the Indian market through a partnership with Myntra. On February 9, ET reported that Turkish brand Trendyol, owned by internet giant Alibaba, will sell products exclusively on Myntra in India.Brand ownership is also becoming an important battleground as the likes of Reliance’s Ajio and Tata Cliq turn up the heat on market leader Myntra. Reliance also owns the brand rights for a large number of high-end brands like Giorgio Armani, Jimmy Choo, Boss and Burberry.
Myntra has a 66% market share in the fashion ecommerce ecosystem, against a 33% share of Ajio, research firm Bernstein said in a report in January. The data did not include Amazon Fashion.
