Myntra closes a Mango store in Mumbai and Roadster in Bengaluru
Flipkart’s fashion business Myntra has closed two loss-making brick-and-mortar stores: Mango in Mumbai and its private label Roadster in Bengaluru.
The business’ Mango store at Palladium Mall in Mumbai was operated under franchise licence by Myntra, while the closed Roadster store in Indiranagar, Bengaluru was a 4,850 square foot large flagship store for Myntra’s private label brand.
Myntra decided to shut the two stores as they were making losses due to high rental costs, sources told ET bureau.
The sources also said that Myntra is shifting its focus back online despite previously having plans to open 100 brick-and-mortar stores for Roadster, HRX, and Mango among other brands. They also mentioned that Myntra had planned to open offline Esprit stores but the business had changed its mind.
However, despite closing two of the stores that had originally marked Myntra’s entry into offline retail, a Myntra spokesperson told ET Bureau that it was still going ahead with its offline retail plans and said: “Myntra continues to move forward in its strategic direction including through franchise offline stores as per the plan.”
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