Myntra bets to acquire Hrithik Roshan's HRX

Betting big on exclusivity,online fashion retailer Myntrahas now set its eyes onBollywood's heartthrob, Hrithik Roshan's clothing and shoes brand HRX....
Myntra bets to acquire Hrithik Roshan's HRX

Betting big on exclusivity, online fashion retailer Myntra has now set its eyes on Bollywood’s heartthrob, Hrithik Roshan’s clothing and shoes brand HRX.

The company is in advance talk with Exceed Entertainment with whom the actor shares the rights of the brand. Though both the brands have not yet disclosed the details of the deal, but market experts have predicted that this move will certainly provide a perfect launchpad to Myntra’s strategy to mark offline presence. Noticeably, Myntra is planning to open its stores across the country in coming months which will primarily concentrate on retailer's private brands. This deal will add an attractive sportswear and lifestyle brand in company’s private brands collection. Buying an equity stake in HRX will align Myntra’s vision with HRX's over the long term, commented Rajesh Narkar, Vice-President, Myntra Fashion Brands. However, explaining the HRX expansion strategy, Kamal Punwani, CFO, Exceed Entertainment said that Hrithik's HRX is planning to open offline stores with exclusive outlets in India and later to countries in West Asia. Myntra owns exclusive rights for a plethora of brands including Harley Davidson merchandise, Marie Claire apparel among others.