Wednesday, 8 October 2014

Press Release: Myntra Fashion Incubator is on a mission to find India’s next big brand idea and it will help bring it to reality too.

Myntra has setup Myntra Fashion Incubator (MFI) to mentor young entrepreneurs who do not have access to capital, supply chain and distribution platforms, and empower them to create size able indigenous fashion brands in the long-run.

Myntra Fashion Incubator (MFI)

Speaking on the launch of MFI, CEO of Myntra and Head of Fashion, Flipkart, Mukesh Bansal said, “This fashion incubator initiative is an attempt to strengthen our commitment of building sustainable and aspirational fashion brands within the country. We will unearth the talent from every part of India and give them a platform to make it big in the Indian fashion space through this exciting program.”

Under its Designer in Residence (DIR) program MFI is trying to identify business ideas that have the
potential to scale and sustain itself in the fiercely competitive fashion and lifestyle market. A panel of well-respected judges and experts from the industry will put the shortlisted participants through rigorous assessment and the final set of participants will get an opportunity to work on their idea under the guidance of MFI. The first batch of the incubator is expected to roll out in January 2015 and as many as 10 entrepreneurs will get on board early next year.

The Designer in Residence is a yearlong program, targeted at budding designers with a unique brand idea to create and develop a fashion business in India. Participants will be mentored and trained by experts and also receive financial support to create designs for one season. MFI will also provide opportunity to showcase these brands in various platforms as well as help retail the same on Myntra platforms.

Myntra is now inviting applications from all design graduates and fashion entrepreneurs to incubate
their business under this ‘Designer in Residence’ program. Application process for the same has started and interested designers can visit the micro site for more details, or can write to for any queries. The last date for application is 31st October, 2014.

Through this program, Myntra will encourage budding designers to test their entrepreneurial skills,
ensure they operate independently and allow them to build powerful independent brands. Myntra will further invest close to a million dollars in equity stakes in the best performing brands after reviewing them for six months to a year.

Myntra has constantly ensured that Indian shoppers stay abreast with the latest global trends by making fashion easily accessible to all. Towards this vision, the brand has introduced several campaigns and initiatives like the Myntra Style Helpline, collaboration with Fashion Weeks and association with celebrities, designers and stylists, which have enabled Myntra to strengthen its fashion focus.

*Press Release

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