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Last Updated : Sep 19, 2018 01:54 PM IST | Source: Moneycontrol.com

Myntra looking for mall space in metros, may soon open offline stores: report

In these brick-and-mortar outlets, the Walmart-backed fashion e-tailer will sell women’s fashion, sports and lifestyle products, cosmetics and accessories

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After dominating the online fashion space for the past few years, Myntra is in talks with many mall operators in top cities to open multi-brand offline stores, including large department stores, The Economic Times reports.

In these brick-and-mortar outlets, the Walmart-backed fashion e-tailer will sell women’s fashion, sports and lifestyle products, cosmetics and accessories. Its main competition will be other multi-brand stores like Shoppers Stop and Lifestyle.

Myntra has approached many mall officials in cities like Delhi-NCR, Mumbai and Bengaluru seeking space ranging from 3,000 square feet for outlets of cosmetics products to 20,000-30,000 feet for department stores, sources told the paper.

An executive at a Mumbai mall said, “They have been talking for space between 10,000-12,000 sq ft and 20,000-30,000 sq ft. They have got many private labels and exclusive global and leading Indian brands. In the larger format, they will have all kinds of brands like any other multi-brand store.”

This move is being seen as Myntra’s way of adopting an aggressive omni-channel strategy. This means that it is trying to provide an integrated shopping experience to its customers through online channels and offline stores, as well as everything in between.

Physical stores will also help the brand gain visibility and provide the touch and feel, which is important for many customers, experts said.

The Bengaluru-based company currently has master franchisee deals with the Spanish company Mango and Hong Kong’s Espirit to open their stores in India. It is speculated that the company is in talks with UK’s Dorothy Perkins, though Myntra denied these rumours.

Myntra entered offline retail when a store of its private brand Roadster opened in Bengaluru last year. The aim was to launch 100 such offline stores across cities in the next two years.
First Published on Sep 19, 2018 10:25 am
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