In a move that marks its foray into the brick and mortar shopping experience, e-commerce shopping site Myntra has bagged the master distribution and management rights for Mango, the famous Spanish fast fashion brand.
According to reports, this move makes the Flipkart owned company the first e-commerce company globally to manage the omni-channel strategy for a global fashion brand.
As part of the deal, reports indicate that Myntra will be responsible for the setting up of almost 25 Mango store across India. And, over the next five years, will also have the brand exclusively on Myntra, and on Jabong, which it bought last year for $70 million.
This is not the first association between the two fashion entities. Mango and Myntra have been working together since 2014 when Mango items were first listed on the Myntra.
According to a statement given to PTI by Mango Vice-Chairman and Member of the Board of Directors Daniel Lopez, the latter says “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.”
Currently, Mango has only about 20 per cent of its global portfolio in India, and the latter doesn’t feature among Mango’s top markets. This partnership is aimed at changing that statistic.
Speaking about the partnership, Myntra CEO Ananth Narayanan said, “We will be responsible for managing Mangos 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.
In a span of five years, reports point out, will enable Mango to bring other products including men’s’ and kids wear to the Indian market.
Mango had entered the Indian market in 2011.
(With inputs from PTI)
Pic credit: Myntra.com