- Prachi Singh |
Esprit has granted exclusive distribution and management rights to Myntra, leading Indian fashion platform. The company said in a statement that the target is to open about 15 Esprit stores in the country in the next five years, while simultaneously making Esprit products available exclusively on the Myntra and Jabong platforms.
Commenting on the development, Jose Manuel Martínez, Group Chief Executive Officer of Esprit, said in the statement: “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 returns to India with Myntra
Esprit’s association with Myntra began in November 2016, when the first Esprit collection was launched on Myntra. Offering the wide range of apparel and fashion accessories of famed brands from around the world, Esprit believes that Myntra is the favoured destination for shoppers in India.
“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,” added Ananth Narayanan, CEO, Myntra & Jabong.
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,” said Guillaume Thery, General Manager Asia Pacific of Esprit.
Picture credit:Hartmut Schultz Kommunikation