Abercrombie & Fitch Co. Expands into India; Inks Strategic Franchise Partnership with Myntra Jabong
December 04 2024 - 3:30PM
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 1995This 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
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“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 MyntraMyntra 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.
Investor Contact: |
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Media Contact: |
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Mo Gupta |
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Kate Wagner |
Abercrombie & Fitch
Co. |
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Abercrombie & Fitch
Co. |
(614) 283-6751 |
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(614) 283-6192 |
Investor_Relations@anfcorp.com |
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Public_Relations@anfcorp.com |
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