- Don-Alvin Adegeest |
American high street retailer Forever 21 has signed an exclusive deal with mobile shopping app Myntra to tap into India’s e-commerce boom.
The company, which is the 5th largest retailer in the USA, currently operates in India through a joint venture with local retail group DFL Brands, while in the UK, the retailer directly operates seven stores.
The collection will be launched on Thursday, Economic Times reported, and is expected to bring a boost to Myntra’s maturing consumer base.
Myntra is a mobile-only fashion retailing platform, owned by e-commerce giant Flipkart. According to PwC, e-commerce in India is expected to reach 6 billion dollars of sales in 2015, from 3.5 billion last year.