According to Punwani, Myntra's strength in analytics, data and the online channel and HRX's product vision and strength in building brands, will enable the latter to become a massive brand over the next 3-5 years.
Online fashion retailer Myntra is in the process of buying a majority stake in popular film star Hrithik Roshan's home-grown premium sports and lifestyle brand HRX. The transaction is likely to be completed over the next few weeks, according to a report in LiveMint, which quoted a senior official of the e-retailer but did not mention the financial terms...#
“ With this deal, our strategy and brand vision is completely aligned with Myntra's,” he said.
“Private brands help retailers in two ways. One, they have better margins than external brands,” said Pinakiranjan Mishra, national leader for retail and consumer products at consulting firm EY.
“Secondly, private brands also give more power to retailers. When you have your own brand, it helps keep competing, external brands on their toes. When a retailer owns a brand, they learn about merchandising and branding and it helps them in negotiating with external brands.” (SH)
ALCHEMPro News Desk – India
marketing@alchempro.com
