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.”
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
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 95% of the pincodes covering the length and breadth of the country. Myntra Jabong India Private limited is a wholesale entity of Myntra.
