There is no need to mention that all the online marketplaces thrive to partner with brands to attract new customers and boost the sales of the brand on the platform. Recently, Ajio included a new brand on its marketplace to attack new customers and increase brand sales on the platform, that is H&M, a Swedish fast-fashion brand. However, the inclusion of the H&M brand on Reliance Retail’s online fashion platform Ajio has hinted that Myntra is not the only online fashion retail platform where H&M products can be bought. However, prior to this partnership between Ajio and H&M, Myntra was the only online fashion platform to offer exclusive products of the brand to buy online. Experts are claiming that the partnership between Ajio and H&M is the end of the exclusive partnership between Myntra and the Swedish fast-fashion brand H&M. Kindly go through this article till the end for more details.
H&M products are now on Ajio
An executive of a retail chain said on condition of remaining anonymous, that Ajio’s partnership with H&M is apparently signalling the end of the exclusive partnership between Myntra and H&M including the kid’s range, so this will benefit Ajio. For the unversed, AJIo has more than 5500 brands featured on the list that also includes a profile of exclusive international brands and labels beside native brands, such as GAP, Puma, Superdry, Steve Madden, USPA, MarksandSpencer, Levis, Armani Exchange, Only, and Nike. Scroll down the page and read more details.
Now Reliance’s retail online fashion platform Ajio is set to add international fast-fashion brand H&M to the list. This development in the lifestyle world is being seen as the end of Myntra’s exclusive deal with Swedish clothing brand H&M. Do you know what profit H&M made in the financial year 2022? If not, keenly follow the next section.
H&M India’s debut ushered in a culture of fast-fashion lifestyle. In the financial year 2022, H&M India was operating in 26 cities from 51 stores, from where the Swedish brand posted revenue of Rs 2115.18 crore which was around 50 percent more than a year ago. Meanwhile, the brand’s profit increased to Rs 29.59 crore. Business intelligence platform Tofler stated, “In FY22, H&M India, which operates 51 stores in 26 cities, posted revenue of Rs 2,115.18 crore, up 49% from a year ago. Its profit rose to Rs 25.29 crore,”. Myntra will still sell H&M products and Ajio will take advantage as it already has many exclusive tie-ups. Stay tuned.