wordpress blog stats
Connect with us

Hi, what are you looking for?

Updated: Myntra Acquires Online Private Label Sher Singh & Exclusively.in

Update: Myntra has also acquired Exclusively.in, the parent company of Sher Singh. According to the company the acquisition will allow it to expand operations internationally.  Exclusively.in started as a flash sales site  but pivoted to a standard e-commerce model offering designer apparel and accessories. It ships products only to the US and UK. We’ll update this post with more details shortly.

Myntra.com, the fashion and lifestyle products focused e-commerce company, has acquired SherSingh.com,
the global private label online brand which offers sports-inspired lifestyle apparel for men and women. The
exact value of the transaction has not been disclosed but it was a cash cum equity deal, according to a statement from the company. Following this acquisition, the Sher Singh brand of products will now be exclusively sold on myntra.com and shersingh.com.

Sher Singh’s senior management team along with its employees will also be absorbed into Myntra and will contribute towards strengthening Myntra’s private label portfolio, the company informed. Myntra will also leverage Sher Singh’s fashion and design experience to strengthen its private label and presence in the US market, and will also maintain Sher Singh’s New York design studio.

Sher Singh was launched in 2011 by Exclusively.in Inc, an ethnic wear focused e-commerce portal (www.Exclusively.in) targeting the US and UK markets but also ships to India. The company has offices in New Delhi and New York. Last year, cricketer Zaheer Khan had invested in fashion brand ‘Sher Singh’. Another cricketer, Yuvraj Singh, had invested in parent company, Exclusively.in.

We’ve been witnessing a number of mergers and acquisitions in ecommerce within the same segment, signifying consolidation within the industry. Interestingly, both companies have common investors in Tiger Global Management, Accel Partners India. So just like the Flipkart-LetsBuy deal (the same common investors were involved!), the acquisition makes sense for them as well. Myntra was eager to start its own private label and had made some progress on it. Private labels offer better sales margin. So following the transaction, it would get access to a niche private label, and access to the US market (in a limited manner mostly to Non Resident Indians). Myntra retails branded apparel in India, but its major focus is not on high-end designer wear, unlike Exclusively.in, which pivoted from a flash sales site to an e-commerce store, last year.

Related:
Myntra Claims To Offer 350+ Brands To 3M Customers; Private Label By Q3 2012
Myntra Raises $21M From Tiger Global & Others; Customer Base, Transactions & More
Updated: Myntra Gets $14M In Second Round Funding
Myntra Raises $5 Million From NEA-IUV, IDG Ventures and Accel
Exclusively.in Pivots: Moves From Flash Sales To E-Commerce
Exclusively.in Raises $16M; Starts UK Operations
Luxury Commerce Site Exclusively.in Raises $2.8 M From Accel, Helion: Report

You May Also Like

News

Digital news publishers will now have to notify the government of their operations, set up self-regulatory organisations and apply a complaints redressal mechanism, as...

News

The Australian government has blinked first. Facebook has negotiated amendments to Australia’s controversial “media bargaining code”, and has agreed to restore news content for...

News

The government should set up a regulatory authority to monitor and regulate e-commerce businesses in the country, and it should be empowered with due...

News

E-commerce companies like Amazon and Flipkart are “under investigation” following complaints from consumers and small retailers, Commerce Minister Piyush Goyal said on Tuesday during...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ