Myntra Obtains Franchise Rights to Boost UK's NEXT Brand in India

New Delhi, Mar 22 - In a significant move within the retail and e-commerce sector, Myntra has announced securing franchise rights for the UK-based fashion brand NEXT in India. This strategic partnership marks a pivotal step for Myntra as it continues to expand its portfolio of international brands catered to the Indian audience. Through this franchise agreement, Myntra Jabong Pvt. Ltd, the B2B wholesale arm of Myntra, is granted the rights to distribute NEXT's diverse range of fashion products across the country.

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The collaboration is set to enhance NEXT's omni-channel presence in India significantly. Myntra's B2B entity is tasked with establishing NEXT branded stores across the nation, thereby amplifying the brand's physical and digital footprint in one of the world's fastest-growing markets. This move is expected to leverage Myntra's robust distribution network and deep understanding of the Indian consumer market to boost NEXT's brand visibility and accessibility.

Nandita Sinha, Chief Executive Officer at Myntra, expressed optimism about the partnership, highlighting the successful online growth of NEXT in India over the past year. "With a strong playbook in exponentially building adoption for global brands ground-up, we are looking forward to unlocking the next phase of growth in the brand’s India scale-up journey," Sinha stated. This reflects a mutual commitment to tapping into the vast potential of the Indian market by aligning product offerings with local tastes and preferences.

As part of this expansive strategy, plans are underway to open 8-10 NEXT stores in major Indian cities such as Delhi, Mumbai, and Bengaluru within the initial years of operation. This expansion is complemented by a comprehensive online presence on Myntra's platform, further solidifying NEXT's omni-channel strategy in India.

In addition to bringing NEXT's product range to Indian consumers, Myntra will also introduce other brands owned wholly or partly by NEXT. These include Reiss, Lipsy, Joules, Love and Roses, and Friends Like These. The inclusion of these brands under Myntra's umbrella is anticipated to enrich the Indian fashion landscape with a wider variety of international styles and trends.

This partnership between Myntra and NEXT underscores a shared vision for leveraging India's dynamic retail environment to foster growth and innovation. With Myntra's expertise in scaling global brands within India and NEXT's distinguished fashion lineage, this collaboration is poised to set new benchmarks in international brand expansion and consumer engagement in the country.