Myntra.com, India’s biggest e-commerce player for fashion and lifestyle products has acquired Exclusively.in which retails fashion, jewelry and home decor from Indian artisans and designers in US and UK. The deal also included the acquisition of SherSingh.com, a private label sports-inspired lifestyle apparel brand for men and women.
As part of the cash cum equity deal, Exclusively.in’s senior management along with its employees will be folded into Myntra and will contribute towards strengthening Myntra’s private label portfolio. Myntra will leverage Exclusively.in’s fashion and design expertise to strengthen its private label and presence in the US market. Myntra will also maintain Exclusively.in’s New York design studio to tap into the latest trends from one of the world’s leading fashion capitals.
Mukesh Bansal, Co-Founder & CEO at Myntra.com said “We are very excited about this acquisition. Exclusively.in’s team has built a niche offering of high-end traditional Indian brands which speaks to the global marketplace. We are very confident that this acquisition will significantly enhance Myntra’s fashion and design expertise and create inroads for global expansion.”
Sunjay Guleria, Co-Founder & CEO at Exclusively.in added – “We couldn’t have asked for a better long-term fit than Myntra. As the leader in the fashion and lifestyle e-commerce space, Myntra will now expose our award-winning designs and superior quality to millions of consumers in India and US and help us create long-term, sustainable brand equity.”
Exclusively.in retails high-end traditional Indian apparel as well as scarves, jewelry, handbags, paintings and other home accessories made by Indian designers. The company launched its sports-inspired lifestyle apparel brand Sher Singh in 2011 and has Indian cricket superstar Zaheer Khan and Supermodel and Bollywood actress Lisa Haydon as its brand ambassadors.
The company has offices in New Delhi and New York and has created the world’s first global Cricket-inspired lifestyle apparel brand with its signature “INDIA” polo worn by Cricket heroes such as Sachin Tendulkar, Zaheer Khan, MS Dhoni, and Harbhajan Singh.
