Under the agreement, Myntra will curate and facilitate 15 Esprit stores in the country over the next five years, apart from selling Esprit's products exclusively on Myntra and Jabong
Fashion e-tailer Myntra today said it has bagged master distribution and management rights for the fashion brand, Esprit, in India.
Under the agreement, Myntra will curate and facilitate 15 Esprit stores in the country over the next five years, apart from selling Esprit's products exclusively on Myntra and Jabong.
No financial details of the deal were disclosed.
Myntra's association with Esprit began in November 2016, when the latter's first collection was launched online on Myntra.
"In the short span that we have partnered with Esprit, we have already seen 100 percent growth... We are confident of this growth continuing with the omni-channel presence," Myntra and Jabong CEO Ananth Narayanan told PTI.
In February, Myntra had inked a similar pact with Spanish fashion brand, Mango.
Esprit had exited the Indian market in 2012, after a lukewarm response.
"We look for an omni-channel play in countries where we operate and we are confident that our strengthened partnership with Myntra will bear fruit, enabling Esprit to complete a brilliant return to India," Guillaume Thery, General Manager Asia Pacific at Esprit, said.
Founded in 1968, Esprit's collections are available in over 40 countries worldwide, in around 660 directly managed retail stores and through over 6,000 wholesale points of sales including franchise stores.The Group markets its products under two brands -- Esprit and edc. Listed on the Hong Kong Stock Exchange, Esprit has headquarters in Germany and Hong Kong.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.