Taking its collaboration with Bollywood star Hrithik Roshan’s active lifestyle brand, HRX, to another level, Myntra has acquired a majority stake in the brand. This strategic investment is a first of its kind in the industry, wherein a celebrity incubated brand has aligned with the country’s leading e-fashion retailer in an equity model.
HRX is Myntra’s one of the most successful private brands and combines fashion and fitness with inspiration drawn from the actor himself. “The mission of our brand is to impact, transform and empower a billion people in their journey to be the best version of themselves. The new partnership with Myntra is a stride closer towards fulfilling this mission. I’ve always been passionate about physical and mental fitness and the changes it brings to everyone’s life, and this collaboration is a big positive step we have taken towards the change,” said Hrithik on the occasion.
Rajesh Narkar, Brand Director and VP, Myntra Fashion Brands said, “Myntra has a sound understanding of consumer preferences and trends specific to various categories, including sportswear. With healthy lifestyles on the rise and customers increasingly looking for fashionable and functional active wear choices, we believe the strategic acquisition of a majority stake in HRX will help in propelling the brand to the forefront of the active lifestyle wear segment.”
With this acquisition, the brand will be able to leverage certain benefits exclusive to Myntra’s in-house brands, such as technology to provide better consumer experience, access to data on consumer preferences etc. it will be in a position to offer even better products and experiences for the brand’s enthusiasts. HRX aims to double its revenues to Rs. 200 crore in the current financial year and is gearing up to go offline in the next financial year.