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Myntra becomes first e-commerce firm to manage physical stores

Accordingly, Myntra will work on curating 25 to 30 Mango stores over the next five years in India

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In a first of its kind, e-retailer Myntra will now manage all the physical stores of Spanish fast-fashion brand Mango in India. This arrangement is part of a broader master franchise, distribution and management rights agreement signed between the two parties, which also gives Myntra the right to manage Mango's omnichannel strategy in the country.

Ananth Narayanan, chief executive officer, Myntra and Jabong, said, the company is the first e-commerce firm to be awarded such exclusive rights by a leading global fashion brand. "This agreement further strengthens our position as the leading fashion and lifestyle destination and is in line with our strategy to provide our customers access to the best of international brands. We expect to grow Mango's India business exponentially over the next five years. This event marks an epoch in our journey and the beginning of a new age in omni-channel fashion in the country," said Narayanan.

Accordingly, Myntra will work on curating 25 to 30 Mango stores over the next five years in India. The e-retailer will also list brand Mango exclusively on Myntra and Jabong, in association with select retail partners.

Additionally, Myntra will be responsible for managing Mango's omni-channel presence including Mango.com, offline stores in the country as well as the brand's presence on its own platform.

Daniel Lopez, vice-chairman and member of the Board of directors, Mango, said the brand has performed well on the Myntra platform over the last three years. "A high degree of technological capability backed by incomparable logistical facilities covering the entire country make Myntra an ideal entity to enhance our partnership with. We are targeting exponential growth for Mango in India in the coming years and are optimistic about achieving the same through Myntra," said Lopez.

The move, according to Myntra, compliments its offline strategy and will serve as a distinguishing platform by creating the right omnichannel experience for customers. "As a long-term strategy, the company will explore similar partnerships with global brands in the future and will also develop an organisational structure to cater to an expanding omni-channel presence," Myntra said in a statement.

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