Myntra gets Esprit India rights, to add 15 exclusive stores in 5 years
Flipkart owned fashion platform Myntra has acquired the master distribution and management rights for international fashion brand Esprit in India, the company said in a statement.
Myntra plans to add around 15 Esprit stores in the country in association with its group companies and select retail partners, over the next 5 years, while also help list the brand exclusively on Myntra and Jabong platforms.
Myntra’s association with Esprit began in November 2016, when the first collection was launched online on Myntra. This partnership will enable Myntra to leverage its data driven insights to establish and strengthen Esprit’s omni channel presence in the country.
Ananth Narayanan, CEO, Myntra & Jabong in a statement said, “We are very excited to partner with Esprit to help them establish and strengthen their presence in India. The brand has been growing consistently on our platform and I am confident that our understanding of the fashion landscape, technology prowess and reach will enable us to build a robust omni channel strategy for Esprit in the country.”
Jose Manuel Martínez, Group Chief Executive Officer of Esprit said, “This partnership with Myntra shows our commitment to re-enter the Indian market in an innovative and ambitious manner. It is also a vital step to expand our business in high potential countries as planned.”
Guillaume Thery, General Manager Asia Pacific of Esprit said, “Esprit is delighted to extend this partnership, complementing our traditional brick and mortar retailing. We are confident that our strengthened partnership with Myntra & Jabong will bear fruit, enabling Esprit to complete a brilliant return to India.”
Myntra is aiming to be India’s largest fashion brand over the next 5 years and signing exclusive partnerships with international brands to achieve the same. It has the exclusive rights for Spanish brand Mango in India and plans to open 30 stores across the country in the coming years.
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