The idea behind setting up the Myntra Fashion Incubator is to mentor young entrepreneurs who do not have access to capital, supply chain and distribution platforms.
E-commerce firm, Myntra.com today announced the launch of year-long 'Designer in Residence' program targeted at budding designers with a unique brand idea to create and develop a fashion business in India, says a PTI report.
Commenting on the development, Myntra CEO and Head of Fashion at Flipkart, Mukesh Bansal said, "The idea behind setting up the Myntra Fashion Incubator is to mentor young entrepreneurs who do not have access to capital, supply chain and distribution platforms, and empower them to create sizeable indigenous fashion brands in the long-run. The emphasis of this initiative will be on identifying a business idea that has the potential to scale and sustain itself.”
‘A panel of 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 Myntra Fashion Incubator team, ‘he added.
The first batch of the incubator program is expected to roll out in January 2015 and as many as 10 entrepreneurs will get on board early next year.