The move is aimed at selling the Bengaluru-based company’s private labels in the country’s largest department store chain, giving Myntra’s own brands, including Roadster and HRX, a presence in physical stores for the first time, said the report.
The two companies are in advanced stages of the agreement that will also pave way for Shoppers Stop to sell its own private labels on Myntra’s online platform.
Veterans from Shoppers Stop who have now joined Myntra, played an instrumental role in the deal.
It would be for the first time that Myntra’s own brands will be transcending the online barrier to offline display and sales. This would be a win-win situation for both Myntra and Shoppers Stop, analysts are of the view, as mentioned in the report.
“Private labels are such a thing now, everybody is looking for more places where they can sell their products because volumes are an issue,” says Harminder Sahni, Founder of retail consultancy, Wazir Advisors, added the report.