Myntra makes Forever 21 India bid

Flipkart’s online fashion store Myntra is seeking to take over management of US fashion brand the Forever 21 India  brick-and-mortar stores.

Myntra already sells Forever 21 products online under an exclusive agreement, and if successful in taking over the 10 onground stores – managed by a joint venture of Forever 21 and DLF Brands – it would be the Indian company’s entry into offline retailing.

Forever 21 India launched in 2011 as a franchise run by Dubai-based Sharaf Retail. When the business failed to expand, Sharaf closed the sole store, in New Delhi, in early 2013, reports the Economic Times.

Forever 21 then formed the joint venture with DLF Brands and opened stores in the National Capital Region, Bengaluru, Hyderabad, Mumbai, Pune and Thane.

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