Myntra Takes Partnership With Hrithik To Another Level

Myntra, the leading online fashion portal, had already collaborated with Bollywood star Hrithik Roshan’s active lifestyle brand, HRX. But recently, it went a step further to acquire a majority stake in the brand.

The stake was bought from Exceed Entertainment, with the aim of boosting its high-margin private brands business.

HRX has emerged as one of Myntra’s most successful private brands, combining fashion and fitness. The range draws inspiration drawn from the actor, who believes in both physical and mental fitness.

HRX, one of the first homegrown Indian active lifestyle brands launched in 2012, was exclusively licensed to Myntra by 2013, and has since proved to be one of the top selling brands on Myntra. Apart from clothing and shoes, its products include belts, backpacks and wallets. Hrithik had asked, "India, Are You Ready?" when he launched his brand. Now, India seems to be more than ready to wear his label.

"The mission of our brand is to impact, transform and empower a billion people in their journey to be the best version of themselves. The new partnership with Myntra is a stride closer towards fulfilling this mission. I’ve always been passionate about physical and mental fitness and the changes it brings to everyone’s life. This collaboration is a big positive step we have taken towards the change," Hrithik said, on the occasion.

Rajesh Narkar, Brand Director and VP, Myntra Fashion Brands said, "Myntra has a sound understanding of consumer preferences and trends specific to various categories, including sportswear. With healthy lifestyles on the rise and customers increasingly looking for fashionable and functional active wear choices, we believe the strategic acquisition of a majority stake in HRX will help in propelling the brand to the forefront of the active lifestyle wear segment."

"Leaving aside a few international sports brands, there’s a lack of choice for consumers in sportswear and lifestyle and there’s massive scope to build a large brand in this segment. Buying an equity stake in HRX will align our vision with HRX over the long term," added Narkar.

With this acquisition, the brand will be able to leverage certain benefits exclusive to Myntra’s in-house brands, such as technology to provide better consumer experience, access to data on consumer preferences etc. it will be in a position to offer even better products and experiences for the brand’s enthusiasts.

Myntra, on the other hand, will continue to be infused with the belief system that has made HRX such a huge hit. HRX is led by a whole wall of belief systems, if a visit to their site is any hint: "A lifestyle of fitness can change who we are and what we do in all aspects of our life"; "Be the best version of yourself"; "If they say it can’t be done, take it personally"; "When you devote yourself to an ideal, you become a legend"; "Do you think training is hard? Try losing"; "The will to conquer is the first condition of victory" are just some of the inspiring graffiti on the HRX site.

An exciting news at HRX is a new women’s collection which is coming out soon.

Meanwhile, Tiger Shroff joining the HRX brand looks like an exciting and perfect fit for the brand. Tiger is another guy who is totally into fitness and represents flexibility as well, with his famous dance moves. His association with this brand would inspire an HRX fan further to practice fitness as well as dress right for it.

HRX has plans to double its revenues to Rs 200 crore during the current financial year. It also has plans to go offline in the next financial year.

This strategic investment is a first-of-its-kind in the industry, wherein a celebrity brand has aligned with the country’s leading e-fashion retailer, in an equity model.

Among online retailers, Myntra has by far been the most successful in building a large private brands business ahead of its parent Flipkart and new acquisition Jabong. Increasing sales of private brands, which bring in higher margins than third-party brands, is one of the main drivers of the company’s plan of achieving profitability over the next two years or so.

Myntra expects private brands to contribute up to 30% of its sales by March 2017, from about 20% at the beginning of the financial year. The company is targetting gross sales (net of discounts but before product returns) of Rs 5,000 crore this year.

To know more about latest fashion trends for men and women and how the e-commerce industry is shaping up, you can visit: http://blog.myntra.com/