Myntra to open 10 offline stores after new acquisition?
In May 2014, we first heard of Myntra’s intention to venture offline with its Roadster brand. After the success of its recent ‘End of Reason Sale’, Myntra yet again voiced its interest in piloting an omni-channel approach. Experience zones, where customers could get closer to the brand were also on the agenda.
The fashion etailer received $50mn from parent company, Flipkart only this month. It is now reporteded that Myntra is on the verge of sealing a deal to acquire the US retail chain, Forever 21, which caters to young adults and teenagers. It currently operates ten physical stores across the country.
Forever 21’s stores are located in:
- National Capital Region
- Mumbai
- Pune
- Bengaluru
- Thane
- Hyderabad
Myntra already sells Forever 21’s products exclusively online. Forever 21 is currently managed as a joint venture in association with DLF Brands. Myntra has so far played down the deal as speculation, although the rumours rumble on.
“Handshakes have happened with Myntra and currently the documentation is happening,” said an anonymous source.
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