Fashion e-tailer Myntra has bagged a master distribution and management rights for Spanish fashion brand Mango in India.
This is the first time that an e-commerce player will manage the omni-channel strategy for a global fashion brand. No financial details of the deal were disclosed.
As part of the arrangement, Myntra will curate and facilitate setting up 25 Mango stores and list the brand exclusively on Myntra and Jabong platforms over the next five years.
“We have seen 100 per cent growth in business on Myntra platform in the last 3 years and that has given us the confidence for this partnership,” Mango Vice-Chairman and Member of the Board of Directors Daniel Lopez told PTI.
“We will be responsible for managing Mango’s omni-channel presence including Mango.com, offline stores in the country (8 of them currently) as well as adding new stores through sub-franchising. We will take the number of stores to 25 and these will be across the top cities in the country,” Myntra CEO Ananth Narayanan said.
He added that the company expects to help grow Mango’s India business 3X over the next 5 years.
“Right now, Mango has about 20 per cent of its global product portfolio in India. This partnership will help Mango bring 100 per cent of its product lines — including men’s and kids wear to the Indian market,” he said.