Abercrombie & Fitch Co. Expands into India; Inks Strategic Franchise Partnership with Myntra Jabong
Abercrombie & Fitch Co. (NYSE: ANF) has announced a new multi-year franchise partnership with Myntra Jabong to expand its presence in India. The agreement includes plans for brick-and-mortar retail stores, regional e-commerce sites, and branded digital storefronts across the country.
The partnership will leverage Myntra Jabong's position as a leading fashion and lifestyle player in India to grow A&F's brands and deliver seamless shopping experiences. The collaboration aims to tap into India's dynamic market potential while maintaining A&F's customer-centric approach that has been key to its recent transformation.
Abercrombie & Fitch Co. (NYSE: ANF) ha annunciato una nuova partnership di franchising pluriennale con Myntra Jabong per ampliare la propria presenza in India. L'accordo prevede piani per negozi fisici, siti di e-commerce regionali e vetrine digitali a marchio in tutto il paese.
La partnership sfrutterà la posizione di Myntra Jabong come leader nel settore moda e lifestyle in India per far crescere i marchi A&F e offrire esperienze di acquisto senza soluzione di continuità. La collaborazione mira a sfruttare il potenziale dinamico del mercato indiano mantenendo l'approccio centrato sul cliente di A&F, che è stato fondamentale per la sua recente trasformazione.
Abercrombie & Fitch Co. (NYSE: ANF) ha anunciado una nueva asociación de franquicia de varios años con Myntra Jabong para expandir su presencia en India. El acuerdo incluye planes para tiendas físicas, sitios de comercio electrónico regionales y escaparates digitales de marca en todo el país.
La asociación aprovechará la posición de Myntra Jabong como un jugador líder en moda y estilo de vida en India para hacer crecer las marcas de A&F y ofrecer experiencias de compra sin interrupciones. La colaboración tiene como objetivo aprovechar el potencial dinámico del mercado indio mientras se mantiene el enfoque centrado en el cliente de A&F, que ha sido clave para su reciente transformación.
Abercrombie & Fitch Co. (NYSE: ANF)는 Myntra Jabong와 협력하여 인도에서의 존재감을 확장하기 위한 새로운 다년간 프랜차이즈 파트너십을 발표했습니다. 이 협정에는 오프라인 매장, 지역 전자상거래 사이트 및 브랜드 디지털 매장을 위한 계획이 포함됩니다.
이 파트너십은 인도에서 패션 및 라이프스타일 선두주자인 Myntra Jabong의 입지를 활용하여 A&F의 브랜드를 확장하고 원활한 쇼핑 경험을 제공하는 것을 목표로 하고 있습니다. 이 협력은 인도의 역동적인 시장 잠재력을 활용하는 동시에 최근 변신에 핵심 역할을 한 A&F의 고객 중심 접근 방식을 유지하려고 합니다.
Abercrombie & Fitch Co. (NYSE: ANF) a annoncé un nouveau partenariat de franchise pluriannuel avec Myntra Jabong pour étendre sa présence en Inde. L'accord comprend des plans pour des magasins physiques, des sites de commerce électronique régionaux et des vitrines numériques de marque à travers le pays.
Le partenariat tirera parti de la position de Myntra Jabong en tant qu'acteur majeur de la mode et du style de vie en Inde pour développer les marques A&F et offrir des expériences d'achat fluides. Cette collaboration vise à exploiter le potentiel dynamique du marché indien tout en maintenant l'approche centrée sur le client d'A&F, qui a été essentielle à sa transformation récente.
Abercrombie & Fitch Co. (NYSE: ANF) hat eine neue langfristige Franchise-Partnerschaft mit Myntra Jabong angekündigt, um seine Präsenz in Indien auszubauen. Das Abkommen umfasst Pläne für stationäre Einzelhandelsgeschäfte, regionale E-Commerce-Websites und markengebundene digitale Verkaufsstellen im ganzen Land.
Die Partnerschaft wird die Position von Myntra Jabong als führenden Anbieter von Mode und Lifestyle in Indien nutzen, um die A&F-Marken zu erweitern und nahtlose Einkaufserlebnisse zu bieten. Die Zusammenarbeit zielt darauf ab, das dynamische Marktpotenzial Indiens zu nutzen und gleichzeitig den kundenorientierten Ansatz von A&F aufrechtzuerhalten, der für die jüngste Transformation entscheidend war.
- Strategic expansion into India's growing fashion market
- Multi-channel approach combining physical stores and e-commerce
- Partnership with established local market leader Myntra Jabong
- None.
Insights
This strategic franchise partnership represents a significant market expansion opportunity for Abercrombie & Fitch Co. into India's rapidly growing retail market. Myntra, with over 200 million registered users and a dominant position in India's online fashion space, provides A&F with immediate access to a vast customer base and established distribution networks.
India's fashion retail market, valued at approximately
The partnership follows A&F's successful business transformation and recent strong performance, with the stock up over
Agreement supports long-term opportunity for global, omnichannel growth for the Abercrombie & Fitch and Hollister brands
NEW ALBANY, Ohio, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Abercrombie & Fitch Co. (NYSE: ANF) today announced a new multi-year, franchise partnership with Myntra Jabong India Private, Ltd., Myntra’s business-to-business wholesale entity (Myntra Jabong), to expand the global reach of its brands in India.
Over the life of the franchise agreement, Myntra Jabong will build a brick-and-mortar retail store presence in the country, regional e-commerce sites and branded digital storefronts operated by a network of licensed and independent third parties.
As one of India’s leading players in the fashion and lifestyle space, Myntra Jabong is well-positioned to help grow A&F Co.’s brands across the country and deliver a seamless, shopping experience.
Fran Horowitz, Chief Executive Officer of Abercrombie & Fitch Co., said, “With the strength of A&F Co.’s brands today, we are thrilled to partner with Myntra Jabong to more deeply engage with new and existing customers in India. It’s an incredibly dynamic and diverse market, and one where we see tremendous long-term potential as we continue to pursue global brand growth.” She added, “Staying close to our customers and putting them at the center of everything we do has been the foundation of our transformation and the key to our success in recent years. In Myntra Jabong, we have found a like-minded partner whose expertise and capabilities will allow us to go to market with these same strategies in India.”
Talking about the partnership, Nandita Sinha, Chief Executive Officer of Myntra, said, “We are delighted to bring the much-sought-after and iconic brands, Abercrombie & Fitch and Hollister, renowned for their commitment to enduring quality and exceptional comfort, to India, for our fashion-forward customers. We will apply Myntra's fashion and tech expertise to connect Abercrombie & Fitch and Hollister with the country's thriving fashion audience and help them scale as we have done with numerous other global brands. The Indian lifestyle market offers potential to global brands, and we are pleased to be their preferred partner in crafting their India growth journey.”
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This press release may contain forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements, including, without limitation, statements regarding our brands, distribution channels, and business partnerships, relate to our current assumptions, projections, and expectations about our business and future events. Any such forward-looking statements involve risks and uncertainties and are subject to change based on various important factors, many of which may be beyond the company’s control. The inclusion of such information should not be regarded as a representation by the company, or any other person, that the objectives of the company will be achieved. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “should,” “are confident,” “will,” “could,” “outlook,” and similar expressions may identify forward-looking statements. Except as may be required by applicable law, we assume no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Factors that may cause results to differ from those expressed in our forward-looking statements include, but are not limited to, the factors disclosed in Part I, Item 1A. “Risk Factors” of the company’s Annual Report on Form 10-K for the fiscal year ended February 3, 2024, and otherwise in our reports and filings with the Securities and Exchange Commission.
About Abercrombie & Fitch Co.
Abercrombie & Fitch Co. (NYSE: ANF) is a global, digitally led, omnichannel specialty retailer of apparel and accessories catering to kids through millennials with assortments curated for their specific lifestyle needs.
The company operates a family of brands, including Abercrombie & Fitch and Hollister, each sharing a commitment to offer products of enduring quality and exceptional comfort that support global customers on their journey to being and becoming who they are. Abercrombie & Fitch Co. operates 750+ stores across North America, Europe, Asia and the Middle East, as well as the e-commerce sites abercrombie.com and HollisterCo.com.
About Myntra
Myntra is one of the leading platforms for fashion, beauty and lifestyle in India. An integral part of the Flipkart Group, Myntra brings together technology and fashion to create the best experience for millions of its customers. Myntra offers a wide range of over 9700 brands such as MANGO, H&M, Levi’s, U.S. Polo Assn., Tommy Hilfiger, Louis Philippe, Jack & Jones, Forever 21, Marks & Spencer, MAC, Huda Beauty and Estee Lauder. With a wide reach, Myntra services over
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