Myntra to bring Abercrombie & Fitch, Hollister stores to India in a franchise deal
- The Myntra-Abercrombie partnership is set to intensify competition in India's lucrative lifestyle market, where consumer demand for international brands is surging.
Myntra, the Flipkart-backed online fashion retailer, on Thursday announced a multi-year franchise partnership with NYSE-listed Abercrombie & Fitch Co., setting the stage for the launch of Abercrombie & Fitch and Hollister stores in India. The collaboration, facilitated through Myntra’s business-to-business wholesale entity, marks a significant push into the offline retail space for the iconic US brands.
Abercrombie & Fitch, known for its specialty apparel and accessories, operates over 750 stores globally across North America, Europe, Asia, and West Asia. It also manages e-commerce platforms tailored to its diverse customer base.
Under the partnership, Myntra Jabong will establish brick-and-mortar stores, regional e-commerce sites, and branded digital storefronts in India, leveraging a network of licensed and independent third-party operators, the retailer said in the statement.
Abercrombie & Fitch is also expected to launch its stores and begin online sales in India in the second half of FY25, according to a Myntra spokesperson.
“We are thrilled to partner with Myntra Jabong to more deeply engage with new and existing customers in India,"said Fran Horowitz, chief executive officer, Abercrombie & Fitch. "It’s an incredibly dynamic and diverse market, and one where we see tremendous long-term potential as we continue to pursue global brand growth.”
Myntra’s agreement with Abercrombie & Fitch Co. underscores its growing portfolio of international brands, building on earlier partnerships with Mango, Nautica, and British retailer Next. The move also positions Myntra in direct competition with Reliance Retail and Nykaa, which have been aggressively securing rights to bring international fashion brands to India.
Reliance Retail, for instance, recently partnered with Britain’s Asos and is set to bring Chinese fast-fashion retailer Shein back to the Indian market.
“We will apply Myntra's fashion and tech expertise to connect Abercrombie & Fitch and Hollister with the country's thriving fashion audience and help them scale as we have done with numerous other global brands," aid Nandita Sinha, chief executive officer, Myntra. “The Indian lifestyle market offers potential to global brands and we are pleased to be their preferred partner in crafting their India growth journey.”
Founded in 1892, Abercrombie & Fitch Co. has undergone a transformation to appeal to younger consumers and compete with Gen-Z-focused online fashion brands. Its flagship brand remains popular among teens in the US. the company reported $4.28 billion in net sales for 2023, a 16% increase from the previous year.
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Myntra, meanwhile, continues to dominate India’s online fashion landscape, offering over 9,700 brands, including Mango, H&M, Levi’s, U.S. Polo Assn., Tommy Hilfiger, and Marks & Spencer. The addition of Abercrombie & Fitch and Hollister further cements its position as a go-to destination for premium global brands.
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Business NewsIndustryRetailMyntra to bring Abercrombie & Fitch, Hollister stores to India in a franchise deal
First Published:5 Dec 2024, 02:52 PM IST
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