NEW RETAIL ENTRY NATIONAL
BENGALURU, KARNATAKA, INDIA
By IFAB MEDIA - NEWS BUREAU - December 5, 2024 | 174 4 minutes read
Abercrombie & Fitch Co., the New Albany, Ohio-based, USA youth retailer, has announced its entry into India through a multiyear franchise partnership with Myntra Jabong India Private Ltd. This collaboration will bring the Abercrombie & Fitch and Hollister brands to Indian customers, marking a significant expansion into one of the world’s most dynamic fashion markets.
Under the agreement, Myntra’s business-to-business wholesale entity will manage the development of the two brands in India. The plan includes opening brick-and-mortar stores, establishing regional e-commerce platforms, and creating branded digital storefronts, which will be operated by a network of licensed and independent third parties.
Fran Horowitz, chief executive officer of Abercrombie & Fitch Co., expressed enthusiasm for the partnership, stating, “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. 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.”
Nandita Sinha, CEO of Myntra, also highlighted the significance of the collaboration, saying, “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.”
Abercrombie & Fitch Co. operates over 750 stores across North America, Europe, Asia, and the Middle East, in addition to its e-commerce platforms, abercrombie.com and HollisterCo.com. While the Americas remains the company’s largest market, Europe, the Middle East, and Africa (EMEA) follow, leaving Asia-Pacific as the smallest region with significant growth opportunities.
The company has achieved seven consecutive quarters of growth and projects net sales growth of 12 to 13 percent for 2024, potentially reaching an annual volume of $4.82 billion—up from $4.3 billion in 2023 and nearing its $5 billion goal. In 2023, Abercrombie & Fitch Co. recorded its best operating margin in 15 years while continuing to attract new customers.
Neil Saunders, managing director of retail at GlobalData, commented on Abercrombie’s performance, noting, “The result is a modern company that resonates with consumers and has performed spectacularly well. Abercrombie will remain on a trajectory of growth in the near term. The brand has momentum and continues to win new customers. It also has new growth opportunities in its international business. Growth levels may moderate as it laps tougher comparatives, but the key measure is whether it can continue to add market share. The answer here is a clear ‘yes’ for the foreseeable future.”
While Abercrombie & Fitch Co. has not disclosed specific timelines or store locations for its entry into India, the partnership with Myntra Jabong is a key part of its strategy to sustain growth and momentum globally. The collaboration leverages Myntra’s leadership in India’s fashion and lifestyle market, setting the stage for a successful expansion.