Update On :25 April 2016
Ecommerce players Flipkart & Myntra have signed an exclusive deal with a Japanese sportswear brand Mizuno to sell its merchandise in India.
"The introduction of Mizuno, an iconic name in the sportswear category will further boost interest among fitness and sports aficionados," Gunjan Soni, head of international brands in Myntra, said in a press release.
Mizuno, founded in Osaka in 1906, specializes in manufacturing sports equipments, especially golf clubs and accessories.
"E-Commerce is an important channel for any international brand who wants to enter India," said Kiyoshi Tatani, president, Mizuno Singapore Limited. "There is no better partner who understands both retail and distribution as Stag. We in Mizuno are excited about our exclusive launch with Myntra and Flipkart," he added.
Meerut-based Stag International, has partnered with Myntra and Flipkart for an exclusive retail distribution. Stag is also distributor of other international brands such as Nike and adidas.
In India, global companies are increasingly entering the Indian market through the ecommerce route. This move helps them save on capital and understand their scope for growth in the country's retail environment.
Online retail, which is being increasingly adopted by Indian shoppers, is expected to account for 3% of the total retail sales by 2020, according to a PwC report. Further, orders per million are expected to more than double to 12 million by 2016 from five million in 2013.
News Source From : http://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/flipkart-myntra-launch-japanese-brand-mizuno/51944972