American retail company Abercrombie& Fitch Co on Thursday announced a multi-year partnership with Myntra Jabong, company’s business-to-business wholesale entity, to expand the global reach of it brands in India.
Abercrombie, in a press release, said Myntra Jabong will build a brick-and-mortar retail store presence in India, regional e-commerce sites and branded digital storefronts operated by a network of licensed and independent third parties over the life of the franchise agreement.
“With the strength of A&F Co.’s brands today, we are thrilled to partner with Myntra Jabong to more deeply engage with new and existing customers in India. It’s an incredibly dynamic and diverse market, and one where we see tremendous long-term potential as we continue to pursue global brand growth,” Fran Horowitz, Chief Executive Officer, Abercrombie & Fitch Co, said.
The release said that Myntra has a base of 70 million Monthly Active Users, service in over 95 per cent of the serviceable pincodes in the country, and Gen Z base that doubled in the last one year and pioneering tech capabilities, Myntra has established itself as a leading platform for brands looking at tapping into the India market.
“Staying close to our customers and putting them at the center of everything we do has been the foundation of our transformation and the key to our success in recent years. In Myntra Jabong, we have found a like-minded partner whose expertise and capabilities will allow us to go to market with these same strategies in India,” Horowitz added.
Talking about the partnership, Nandita Sinha, Chief Executive Officer of Myntra, said, “We are delighted to bring the much-sought-after and iconic brands, Abercrombie & Fitch and Hollister, renowned for their commitment to enduring quality and exceptional comfort, to India, for our fashion-forward customers. We will apply Myntra’s fashion and tech expertise to connect Abercrombie & Fitch and Hollister with the country’s thriving fashion audience and help them scale as we have done with numerous other global brands. The Indian lifestyle market offers potential to global brands and we are pleased to be their preferred partner in crafting their India growth journey.”
