Next is set to launch online and in-store in India as the retailer signs a new franchise agreement with local ecommerce giant Myntra.
The Indian retail group has secured the distribution and management rights of the fashion retailer, allowing Next to scale its omnichannel presence across the region, The Economic Times reported.
Myntra will be responsible for opening between eight and 10 Next-branded shops in the country’s major cities, including Bengaluru, Delhi and Mumbai.
It will also ensure the fashion retailer has an “extensive presence” online, with customers able to shop its menswear, womenswear and kidswear ranges.
Myntra said the deal offers potential for it to introduce other brands under the Next portfolio to the Indian market, including Reiss, Joules and Fat Face.
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Next chief executive Lord Wolfson said: “We are hugely excited to be working with Myntra in one of the world’s fastest-growing markets and very much look forward to seeing what can be achieved together.”
Myntra chief executive Nandita Sinha added it was looking to “strategically build [Next’s] omnichannel presence in the country.
“With a successful trajectory of growing Next online in India, our first year of working together has resulted in establishing the right product, audience and price fit in the country. With a strong playbook in exponentially building adoption for global brands ground-up, we are looking forward to unlocking the next phase of growth in the brand’s India scale-up journey,” he said.
Next is in talks for similar franchising and licensing agreements in other Asian countries as part of its overseas growth strategy.
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