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Wednesday, 5 December 2018

Myntra halts its offline expansion plans after top-level exits

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India’s leading online fashion retailer Myntra has announced that it is not going ahead with its previous plans of launching 100 brick-and-mortar outlets and will rather focus to enhance its online business, including the omnichannel approach.

Reportedly, the decision is taken after considering the recent top-level exits and the merger of Flipkart’s two subsidiaries; Myntra and Jabong, which resulted in job layoffs.

Previously, Flipkart-owned fashion retailer revealed its plans to open exclusive outlets in shopping malls in Tier I locations such as Delhi, Mumbai, Kolkata and others by the end of this year. The company operates 15 private label outlets across the country out of which 12 are of Mango and three are Roadster stores.

It is important to mark out that the recent union of Jabong and Myntra saw 200 employees exiting the company, while another 150 submitting their resignations. Jabong has shuttered its operations in Gurgaon and is currently operating with very few numbers of employees.

According to the sources, when Myntra acquired Pretr, an end-to-end omnichannel platform for retail, it was aiming to acquire large spaces, ranging from 10,000 to 20,000 sq. Ft, for its retail expansion around the country.

It remains to be seen, how the leading online fashion retailer manages to stay in the front after the recent high-level exits.


Source: https://in.apparelresources.com