American lifestyle retailer Abercrombie & Fitch Co. on Thursday announced a multi-year franchise partnership with Myntra Jabong, the business-to-business wholesale arm of fashion and lifestyle e-commerce platform Myntra. The collaboration aims to expand Abercrombie & Fitch's retail presence in India through physical stores and e-commerce platforms, enhancing its brand reach in the region. "Over the life of the franchise agreement, Myntra Jabong will build a brick-and-mortar retail store presence in the country, regional e-commerce sites and branded digital storefronts operated by a network of licensed and independent third parties," a company statement said. Abercrombie & Fitch Co. CEO Fran Horowitz expressed enthusiasm about engaging with Indian customers and said India is an incredibly dynamic and diverse market where the brand sees "tremendous long-term potential". Store presence will be built starting from top metros, including Delhi and Mumbai, which would be among ...
Operating income takes a hit owing to $290 million impairment towards Jabong merger with Myntra.
Myntra's leadership team has been systematically cutting down manpower at the firm
Move triggered by change in reporting structure, possible Myntra-Flipkart integration
Fashion etailer looks at increasing differentiation between two brands to expand reach
Net revenues of the two companies, now under the Flipkart fold, were estimated at $500 million last year