Myntra could pick up a stake in Wildcraft
Myntra is currently negotiating the possibility of picking up a five percent minority stake in Wildcraft, sources close to the deal have revealed to the Economic Times. Talks are part of Myntra’s Brand Accelerator programme which was launched in 2017 that aims to boost brand sales through partnerships. Other brands that have been part of the programme include Aks and Chemistry.
A deal has not yet been reached and a spokesperson for Wildcraft told the Economic Times: “there is nothing concrete to share at this point of time.” However, if an agreement is made, it is likely that Wildcraft products would be made available online exclusively through Flipkart owned marketplaces, including Myntra. The brand would also pursue an omni-channel strategy through this deal.
Wildcraft was launched by Gaurav Dublish, Siddharth Sood, and Dinesh KS nearly two decades ago. The brand’s manufacturing units are currently located in Bengaluru and Himachal Pradesh and there are 160 Wildcraft stores across India. As well as outdoor clothes such as jackets, boots, and rucksacks, the brand also sells tents, sleeping bags, and hiking accessories.
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