Flipkart-owned online fashion store Myntra is in advanced talks to manage the local retail chain of Forever 21, the US fashion brand targeted at teens and young adults, several people in the know of the matter said.
The Indian company already sells Forever 21’s products online in India under an exclusive tieup. A deal to take over the 10 brick-and-mortar stores currently managed by a joint venture of Forever 21 and DLF Brands will mark Myntra’s entry into offline retailing, a global trend among ecommerce firms.
With such moves, ecommerce firms try to de-risk their business from online-only focus.
Forever 21, which entered India half a decade ago and has changed a partner already before tying up with DLF Brands, hasn’t been able to scale up its business like global rivals such as Spanish brand Zara.
(Source: Economic Times )