Even though it has been barely two months since non-essential shops and malls opened again in India, some brands and retailers bank on the world’s fifth largest economy to boost sales. Case in point is Spanish fashion brand Mango: The brand is planning to accelerate its expansion in India with franchise partner Myntra and wants to open ten new stores before the year ends.
Mango started selling its articles on Myntra’s online marketplace in 2014 and after ending its partnership with distributor DLF Brands at the end of 2016, intensified its partnership with the e-commerce company in early 2017. Since then, Myntra sub-franchises Mango stores in India and sells the brand’s collection through Mango.com and Myntra’s online marketplace, which includes its popular fashion and lifestyle e-commerce portal Jabong.
Myntra ‘ideal partner’ for Mango in India
“It is excellent news that the expansion plan we announced in 2017 is being implemented successfully. Myntra is an ideal partner for us, since it has the capacity and the expertise to develop an excellent omnichannel strategy in India, one of the markets with the greatest potential in the world. I am convinced that we will continue to grow in India working alongside Myntra in the coming years,” said Daniel Lopez, Mango’s director of expansion and franchises, according to media reports.
The first opening is slated for early October at Infiniti Mall in Mumbai, which should be good timing given that the state of Maharashtra has decided to allow the opening of restaurants at the same time. Currently, though shopping malls are open, their food courts are not, which is a big drawback given that it shortens most shoppers’ time at the mall.
The next openings are then planned in department stores in Ahmedabad, Chandigarh, Jaipur, Ludhiana and New Delhi, whereas standalone stores are to open in Hyderabad, Surat and Lucknow. Adding the new ten stores will bring Mango’s tally to 29 and make India the country with the second highest number of stores in Asia after China.
“At Myntra, technology has been key in enabling us to offer world-class experience to our consumers. Our strategic partnership with Mango has given impetus to our efforts for the brand on the back of omnichannel technology. Mango’s expanding presence in India will give us additional opportunities of collaboration and delivering fashion to customers across the nation,” said Vishal Anand, Myntra’s senior director and head of offline.
In March, Mango had reported record full-year revenues as online sales soared. In August, the fashion brand hailed quick sales recoveries in key European markets and now seems ready to continue its India expansion strategy.