Myntra, the online fashion brand who recently floated the news of opening its stores across the country is in the headline once again. The fashion etailer is inching closer to acquire major stakes in Bollywood’s heartthrob, Hrithik Roshan’s clothing and shoes brand HRX.
The company is in advance talk with Exceed Entertainment with whom Hrithik shares the rights of the brand. Though both the brands have not yet disclosed the details of the deal, but market experts feel that this move will certainly going to provide a perfect launchpad to Myntra’s upcoming stores.
This deal will add an attractive sportswear and lifestyle brand in company’s private brands collection. Buying an equity stake in HRX will align Myntra’s vision with HRX's over the long term, commented Rajesh Narkar, Vice-President, Myntra Fashion Brands.
However, explaining the HRX expansion strategy, Kamal Punwani, CFO, Exceed Entertainment said that Hrithik's HRX is planning to open offline stores with exclusive outlets in India and later to countries in West Asia.