Esprit India looks to go offline again, likely to open physical stores in country
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, the Economic Times reported citing sources.
“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.
Copyright © 2022 FashionNetwork.com All rights reserved.