Next to expand in India through new franchise and distribution agreement
Next has signed a new agreement in which Myntra has acquired the India franchise and distribution rights of the UK fashion brand.
Through the deal, Myntra Jabong Pvt will have the right to distribute Next’s products and scale its omnichannel presence in the country.
Subscribe to TRBIt will also see Myntra’s B2B division set up Next branded stores in India.
Nandita Sinha, chief executive of Myntra, said: “We are thrilled to deepen our association with Next and strategically build its omnichannel presence across the country.
“With a successful trajectory of growing Next online in India, our first year of working together has resulted in establishing the right product, audience and price fit in the country.
“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.”
Through the deal, some eight to ten Next stores will be established in key Indian cities, including Bengaluru, Delhi and Mumbai. The move will allow Next to offer an extensive range of clothing for children, women and men in the country both in-store and online.
Simon Wolfson, Next chief executive, said: “We are hugely excited to be working with Myntra in one of the world’s fastest growing markets and very much look forward to seeing what can be achieved together.”
