India’s leading online fashion retailer Myntra is eyeing to enhance its presence into the brick-and-mortar section in Tier I & II cities. It is reportedly in talks with a few mall operators for the opening of multi-brand stores, including large department outlets.
According to a leading media house, Myntra plans to retail womens’ fashion, sports and lifestyle goods, accessories along with cosmetics via these outlets under its own label to compete with other renowned brick-and-mortar brands like Shoppers Stop, Lifestyle and others.
Reportedly, the e-commerce player is on a lookout for 20,000 sq. ft. to 30,000 sq. ft. stores for its department stores and 3,000 sq. ft. stores for retailing accessories. The company is looking to launch three formats; Myntra Women, Myntra Beauty and Myntra Sports, which will be solely operated by Myntra itself.
Notably, Myntra is targeting at physical outlets for its exclusive brand Roadster along with the department store formats.
Myntra’s spokesperson refused to reveal any details of the move, however, as per a leading daily, a New Delhi-based mall confirmed that the retailer is looking for space and also elucidated that few meetings with Myntra’s executives have also taken place in the same regard.
Additionally, Myntra has signed a few franchisee deals with leading apparel labels like Mango and Hong Kong-based Esprit to open their exclusive outlets in India. It is also looking to sign a similar deal with the British fashion brand Dorothy Perkins, in the coming time.
Myntra last year forayed into the offline retail sector with the launch of its Roadster Go store in Bangalore. With the increasing popularity of the store, the retailer has announced to open 100 more offline stores in the next couple of years.
