Fashion e-tailer Myntra
on Thursday said it has bagged master distribution and management rights for 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
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 per cent growth... We are confident of this growth continuing with the omni-channel presence," Myntra
CEO Ananth Narayanan told PTI.
In February, Myntra
had inked a similar pact with Spanish fashion brand, Mango.
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.