Franchise NewsNews

The UK apparel retailer NEXT’s franchise rights for the Indian market are acquired by Myntra.

Next, the UK-based fashion brand signed a new franchise agreement with Myntra, the largest online and offline retailer in India.

According to The Economic Times report, the fashion retailer’s distribution and management rights have been acquired by Myntra, enabling Next to expand its omnichannel footprint throughout the region.

Bengaluru, Delhi, Mumbai, and other major cities in India have Next-branded stores opened by Myntra.

Additionally, it will guarantee that the clothing business has a “wide presence” online where consumers can view its collections of men’s, women’s, and children’s clothing.

According to Myntra, the agreement allows it to bring other Next portfolio brands, such as Reiss, Joules, and Fat Face, to the Indian market.

“We are extremely excited to be working with Myntra in one of the fastest-growing markets in the world and very much look forward to seeing what can be achieved together,” Next Chief Executive Lord Wolfson said.

Nandita Sinha, the CEO of Myntra, stated that the company aimed to “strategically build [Next’s] omnichannel presence in the country.”

“Our first year of working together has succeeded in developing the perfect product, audience, and price fit in India, with Next growing online on a successful path. “We are excited to unlock the next phase of growth in the brand’s India scale-up journey, as we have a strong playbook in building adoption for global brands exponentially from the ground up,” he stated.

As part of its foreign expansion strategy, Next is in negotiations for comparable franchising and licensing arrangements in other Asian nations.