Reliance Industries has formed a brand partnership with fashion e-commerce player Myntra for its exclusive denim collection Mast & Harbour.
The new denim collection is made from fabric using R|Elan FeelFresh technology that offers anti-microbial and anti-odour properties.
“Myntra being one of the fastest growing fashion brands in the country, provides us a great platform to launch apparels made out of our innovative technologies,” Gunjan Sharma, CMO – Polyester Business, RIL, said in the release.
RIL is in the process of meeting 180-200 top apparel companies to showcase R|Elan product range.
The R|Elan co-branding exercise will give RIL a foothold in the Rs 2,50,000 crore Indian apparel industry comprising almost a 50-50 share of menswear and womenswear, according to the press statement.
Flipkart-owned Myntra is also exploring various opportunities for the market expansion.
Beefing up its partnership with well-known brands, Myntra recently won the right to manage international fashion brand Esprit’s offline stores in India.
With this deal, Flipkart-owned Myntra would also be selling Esprit apparels and accessories exclusive on its platform. Besides, it will also manage about 15 stores in the country for the next five years.
The move is in line with Myntra’s plan to clinch exclusive deals with brands for managing their online and offline presence.
In June, as part of its brand accelerator programme Myntra had tied up with two women’s apparel brands- western wear brand Chemistry and ethnic wear brand AKS. The online fashion platform anticipated 10 times growth in sales of the aforementioned brands at the time of partnership.
Additionally, in February this year, the company struck a similar deal with Mango to manage 25-30 offline stores as well as the online presence of the Spanish-headquartered brand in India.
Myntra want to shift sales away from discounts and differentiate its platform. Striking exclusive partnership with well-known brands is a part of its strategy as Myntra wants to outrun Amazon India, which is fast catching up in the segment.