Esprit looks to open physical stores in India
In this article (4)
Hong Kong-based fashion brand Esprit is planning to make a comeback in the Indian market and looking for mall space to open stores. Esprit is also in talks with online fashion retailer Myntra to boost offline presence of the brand, citing sources.
Esprit is reportedly in talks with online fashion retailer Myntra to open Esprit-branded physical store in the country.
“Yes, Esprit is coming back. The top guys from abroad had come about three weeks ago and they were looking for (mall) space,” a person familiar with the matter told ET.
The second person said Esprit is in talks with online fashion retailer Myntra to open Esprit-branded physical store in the country. Myntra already sells Esprit products online through an exclusive deal signed with the fashion brand late last year. Esprit and Myntra did not respond to queries on the matter.
Esprit had entered India in 2005 in a distribution partnership with Aditya Birla Group. However, poor business growth forced the company to shut operations in the country in 2013.
The fashion brand operates in 40 countries through more than 700 retail stores and over 6,000 points of sale, including franchise stores and shop-in-shops in department stores.
Questions & Answers
Q.What is Esprit's strategy for re-entering the Indian market?
What is Esprit's strategy for re-entering the Indian market?
Esprit plans to open physical stores in India by securing mall space. They are also in discussions with online fashion retailer Myntra to enhance their offline presence, potentially through branded stores.
Q.When did Esprit previously operate in India and why did they leave?
When did Esprit previously operate in India and why did they leave?
Esprit first entered India in 2005 through a distribution partnership with Aditya Birla Group. They ceased operations in the country in 2013 due to poor business growth and performance.
Q.How will Esprit's new offline presence relate to its existing online sales in India?
How will Esprit's new offline presence relate to its existing online sales in India?
Myntra already sells Esprit products online via an exclusive deal signed late last year. The current discussions suggest Myntra may now help Esprit open branded physical stores, boosting the brand's offline presence.
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