Indian e-retailer Myntra, owned by Flipkart, has inked a partnership with Esprit to help the international fashion brand fortify its presence in India.
The e-retailer will offer all the managerial assistance needed to Esprit to open 15 stores in the country over the next five years. The brand will also be promoted on Myntra and Jabong platforms.
This is second such deal for Myntra after Mango earlier this year. It is currently managing 25-30 Mango stores in India.
Myntra’s Chief Executive Officer Ananth Narayanan expects that Esprit will grow at least five times over the next five years in India by collaborating with Myntra.
Under the agreement, Myntra will manage the brand’s omnichannel strategy as well.
Esprit, which exited the Indian market in 2012, after a lukewarm response, now feels the latest deal a vital step to expand its presence not only in India but high potential countries as well.
