Myntra to buy Hrithik Roshan’s HRX Sportswear fashion brand

July 22, 2016 written by

Flipkart-owned lifestyle e-commerce venture Myntra to acquire Hrithik Roshan’s HRX to boost revenue from private labels.

Rajesh Narkar, the vice-president of Myntra Fashion Brands says that HRX will increase its sales by Rs. 200 crores this financial year, up from Rs.100 crore last year.

Reports say, Myntra’s first outlet will open either in New Delhi or Bangalore. The company had earlier also announced its plans to diversify into new segments such as home furnishings, jewellery, and personal care.
Myntra currently owns 12 private brands, and the largest private brand on its platform is Roadster, a casual wear offering.


Launched in 2013, HRX is a sports and lifestyle brand that is sold on Myntra and Flipkart. Apart from clothing and shoes, its products include belts, backpacks and wallets.

The focus on private labels is understandable since the company makes higher margin on in-house brands compared to other brands. Also, the level of discounts offered on other brands is typically similar across e-commerce platforms, which means there is only so much a company can do to improve profitability from these brands.

Myntra has been the most successful in online retailers in building a large private brands business ahead of its parent Flipkart and smaller rival Jabong. Myntra expects private brands to contribute up to 30% of its sales by March 2017, from about 20% at the beginning of the financial year. The company is targeting gross sales of Rs. 5,000 crore this year.

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