The end of the exclusive agreement between H&M and Myntra may be in sight with the launch of products from Swedish fast-fashion giant H&M on Reliance Retail’s online fashion platform Ajio.
2015 saw H&M’s entrance into the Indian market. In 2018, the company launched its website and mobile app. A year later, a partnership was created that made Myntra the only online retailer of H&M’s merchandise. Those with knowledge of the situation claim that H&M will continue to collaborate with Myntra while also considerably growing its online presence with the acquisition of Ajio.
The move will benefit Ajio, which has exclusive agreements to sell brands like Gap online. Reliance Retail is the owner of the long-term rights to expand the Gap brand throughout India, both offline and online. It also intends to introduce the Chinese brand Shein to strengthen its position in the country’s retail fashion market.
“While we are unable to comment on market speculation, our goal is to access India’s high-potential market. Our main objective is to become the most popular shopping brand that is both fashionable and available to everyone. We are utilizing our solid brand presence and customer loyalty to efficiently enter the market to keep up with the constantly changing e-commerce and digital landscape. H&M India Pvt. Ltd.’s Yanira Ramirez is the country sales manager.
According to Ramirez, H&M’s long-standing cooperation with Myntra has exceeded all of its objectives and made sure that the company’s clients in India have even more access to the brand.
In addition to domestic companies, Ajio offers over 5,500 brands from around the world, including Puma, Superdry, Gap, USPA, Steve Madden, Levi’s, Marks & Spencer, Only, Armani Exchange, and Nike.
