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Myntra to launch fashion incubator
Posted On: 25-06-2014 22:38:04 PM

The e-commerce combine of Flipkart and Myntra will soon launch a fashion incubator that will select fashion entrepreneurs, give them a platform to retail and after six months to a year pick up equity stakes for up to a million dollars in the best performing brands.

Flipkart-Myntra will look to select at least 3-5 such brands annually which can later be retailed on other platforms as well both online and offline. The first batch of the incubator is expected to roll out in July which will get on board as many as 20 such entrepreneurs.

In the offline retail world, Future group's founder Kishore Biyani has been an early promoter of several local fashion entrepreneurs who have gone on to create successful brands like AND and Biba. Biyani exited these companies last year making windfall gains from his early investments.

Source: Times of India

 
 
 

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