Myntra has shut a Mango store in Mumbai and a flagship store of private brand Roadster in Bangalore. These stores had marked the company’s high-profile entry into brick-and-mortar space. As per reports, the closure was because these outlets were making losses and sales were weak compared to rentals.
Myntra had charted out plans nine months ago to roll out 100 brick and mortar stores —half of them of Roadster and the rest of HRX, Mango and others. Myntra entered offline retailing with the Roadster outlet in Bangalore in 2017.
Walmart-owned Myntra had been scouting for space in malls for various brick-and-mortar formats, including a department store chain, a women’s fashion chain called Myntra Women, a cosmetics format Myntra Beauty and sports and lifestyle outlets. Before planning shelve those plans, Myntra had approached malls seeking space ranging from 3,000 sq ft for outlets selling cosmetics products to space ranging 20,000 sq ft to 30,000 sq ft for department stores. Myntra hopes to continue moving forward with its strategic plans of spreading retail through franchise offline stores.
