Esprit partners with Myntra for a successful return to India
ESPRIT HOLDINGS LIMITED (“Esprit” or “the Group”; HKEx: 330) announced today that it has granted exclusive distribution and management rights in India to Myntra, India’s largest fashion and lifestyle shopping platform. The target is to open about 15 Esprit stores in the country in the next five years, and at the same time, Esprit products will also be available exclusively on the Myntra and Jabong online platforms.
Mr 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.”
Esprit’s association with Myntra began in November 2016, when the first Esprit collection was launched on Myntra. As Myntra is India's leading online platform for fashion brands and a m-commerce pioneer, it is Esprit’s preferred online sales channel in the country.
Offering the widest and trendiest apparel and fashion accessories of famed brands from around the world, Myntra is the favored destination for fashion and lifestyle products of shoppers in India. With Myntra as a partner, Esprit will be able to strengthen its presence in the country and expand business in the new market.
Mr Ananth Narayanan, CEO, Myntra & Jabong, said, “We are very excited to have Esprit as a partner and to help them boost their presence in India. Our insight into the fashion landscapes in India and around the world, our technological prowess and nation-wide reach will definitely give Esprit strong leverage in rolling out its omnichannel strategy in the country.”
Mr Guillaume Thery, General Manager Asia Pacific of Esprit, said, “Esprit is delighted to extend this partnership, complementing our traditional B&M retailing. Our valued customers can now try and feel our products in-store and enjoy an impressive omnichannel experience.
We have never forgotten our loyal Indian Esprit fans who have shopped in our stores before, so we are very excited to be in touch with them again with a revitalized new image and with our all time quality products. We are confident that our strengthened partnership with Myntra & Jabong will bear fruit, enabling Esprit to complete a brilliant return to India.”
*Image: Ananth Narayanan, CEO of Myntra & Jabong and Guilluame Thery, General Manager Esprit APAC