Bengaluru, March 23, 2024: In a pivotal development, NEXT, UK’s leading global fashion brand, has deepened its partnership with Myntra by awarding its distribution and management rights to Myntra Jabong Pvt. Ltd. The association allows Myntra Jabong Pvt. Ltd, Myntra’s B2B wholesale entity, has the right to distribute NEXT’s range of products, while holistically scaling NEXT’s omni-channel presence in India. As a part of this franchise agreement, Myntra’s B2B entity will set up NEXT branded stores in India. The UK-based fashion brand caters to the premium segment of shoppers, who look to elevate their everyday style. The brand is set to offer an extensive range of children, women and men’s apparel both in stores and online.
Founded in 1982, NEXT is acclaimed for its mastery of classic contemporary styles in tandem with outstanding design, unmatched quality, and true value. With over 700 wholly owned and franchise stores spread across the globe, NEXT has scaled to be the UK’s biggest fashion retailer. Additionally, NEXT is at the forefront of home shopping as well, leading the category with fashionable choices for decades.
The association enables NEXT to tap into the vast, diverse, and ever-evolving Indian market by allowing Myntra Jabong Pvt Ltd to distribute its products on a wholesale basis, aiding the brand in establishing a strong consumer base via independent third-party franchise partners and distributors.
With this development, 8-10 NEXT stores will be opened across key Indian cities, including Delhi, Mumbai, and Bengaluru within the first couple of years of operations, along with an extensive online presence on Myntra’s platform, bolstering NEXT’s omni channel presence in the country. NEXT, known for its timeless selection of classic wardrobe staples and unique price positioning, has doubled in demand since its launch online on Myntra in 2023.
The association also opens up the potential for Myntra to introduce other NEXT wholly or partly owned brands to the Indian market. These include Reiss, Lipsy, Joules, FatFace, Jojo Maman Bebe, Love and Roses, and Friends Like These, among others.
Simon Wolfson, NEXT Chief Executive said, “We are hugely excited to be working with Myntra in one of the world’s fastest-growing markets and very much look forward to seeing what can be achieved together.”
Adding on, Nandita Sinha, Chief Executive Officer, of Myntra, said, “We are thrilled to deepen our association with NEXT and strategically build its omni-channel presence in the country. With a successful trajectory of growing NEXT online in India, our first year of working together has resulted in establishing the right product, audience, and price fit in the country. With a strong playbook in exponentially building adoption for global brands ground-up, we are looking forward to unlocking the next phase of growth in the brand’s India scale-up journey.”
This development further bolsters Myntra’s internationally licensed brand portfolio which includes multiple leading global brands
