Report by Tanya Singh:
US apparel retailer Gap Inc. is in talks with Flipkart-owned fashion e-tailor Myntra as it explores potential partnerships in India after ending a franchise pact with Arvind Lifestyle Brands Ltd (ALB) last year, said three people familiar with the development.
“Gap Inc. is evaluating potential partnerships to continue serving customers in India. Franchise partnerships are an important and cost-effective way to grow our Gap business. Uncertainty over the brand’s expansion plans has seen two malls in Delhi in the process of shutting Gap stores. Myntra will keep adding to its portfolio,” spokesperson said in response to queries from Mint “.
The company did not divulge details of potential suitors, but the people cited above said Myntra is a strong contender, but added that another suitor, a large apparel retailer, could also be eyeing the franchise. Uncertainty over the brand’s expansion plans has seen two malls in Delhi in the process of shutting Gap stores. A third store in a mall in Delhi was shut after ALB sought closure last month. The retailer has nearly 20 stores in India.
