Bengaluru: Flipkart-owned fashion retailer Myntra has won the rights to manage Spanish fashion brand Mango’s offline stores in India, as well as sell the brand exclusively on its online marketplace, the company said on Wednesday.
As part of the deal, Myntra will manage and curate 25-30 of Mango’s stores in India. Myntra will also list and sell the brand on Jabong, which it bought last year for $70 million, the company said.
“We are very excited to be the first e-commerce company to be awarded these exclusive rights by a leading global fashion brand such as Mango. This agreement... is in line with our strategy to provide our customers access to the best of international brands. We expect to grow Mango’s India business exponentially over the next 5 years,” said Myntra chief executive officer Ananth Narayanan.
The deal with Mango marks a major coup for Myntra as it looks to increase its share of the market in the crucial online fashion segment, where it competes with Amazon India’s fashion business, among others.
On Tuesday, Mint reported that Myntra was looking to bring more international brands to its marketplace this year.
Prior to this deal, Myntra already had a partnership with Mango that it signed in 2014 to sell the Spanish brand on its online marketplace. Myntra said Mango is currently one of its top five womenswear brands.
Myntra will now manage Mango’s entire so-called “omni-channel” presence in India, including Mango.com, the offline stores and distribute the brand on Myntra’s online marketplace, which includes Jabong.