- Danielle Wightman-Stone |
Myntra, India's largest platform for fashion and lifestyle, has won the master distribution and management rights for international brand Esprit to bring the retailer to India.
The move means that Myntra will be responsible for Esprit’s omnichannel strategy in India, as well as on its own platforms. In addition, Myntra aims to open 15 Esprit stores in the country over the next five years, as the German-based brand looks to re-enter the Indian market.
Ananth Narayanan, chief executive of Myntra and Jabong, 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 omnichannel strategy for Esprit in the country."
Jose Manuel Martínez, group chief executive officer of Esprit, added: ”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: “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 revitalised new image and with our all-time quality products.
“We are confident that our strengthened partnership with Myntra and Jabong will bear fruit, enabling Esprit to complete a brilliant return to India."