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Myntra enters into fine jewellery segment

Update On :27 May 2016

Myntra enters into fine jewellery segment

Indian fashion and lifestyle ecommerce company Myntra has partnered with the prominent jewellery brand in India Tanishq to sell fine jewellery online. It has made this partnership looking at Rs 500 crore revenue over the next three years from the jewellery vertical on its platform. Deepika Tewari said that General Manager Marketing (Jewellery Division) at Titan Company said that the association will help the firm widen its reach and cater to a larger audience of working women who are increasingly shopping online.

Prasad Kompalli, Head of Myntra said that as part of the partnership, Mia by Tanishq, a fine collection of workwear jewellery will now be available on Myntra. The jewellery is designed especially for the modern working women and the range includes earrings, rings, bangles, pendants and bracelets, priced between Rs 3,000 -Rs 50,000. He added that the foray into the fine jewellery segment is aimed at making Myntra a major online destination for purchasing jewellery.

Myntra has done this step to expand their business by bringing in more chances for the customers. With introduction of a wide collection of curated styles and designs, the company aims to appeal to a wide range of customers. The overall jewellery category in the country is currently estimated to be about Rs one lakh crore and around 80 per cent of this is contributed by fine jewellery category. Around 2 per cent of the overall jewellery market in India is retailed online.

News Source From : http://www.indiaretailing.com/2016/05/26/latest-news/myntra-partners-tanishq-sell-fine-jewellery-online/

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