Myntra to open 10 offline stores after new acquisition?
In May 2014, we first heard ofMyntra’s intention to venture offlinewith its Roadster brand. After the success of its recent ‘End of Reason Sale’, Myntra yet again voiced its interest inpiloting an omni-channel approach. Experience zones, wherecustomers could get closer to the brandwere also on the agenda.
Thefashion etailer received $50mnfrom parent company, Flipkartonly this month. It is now reporteded that Myntra is on the vergeof 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
Myntraalready sells Forever 21’s productsexclusively 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.