Ecommerce firm Myntra.com has acquired SherSingh.com, a private label online brand specialising in sports-inspired lifestyle apparel.
As part of the cash-cum-equity deal, the Sher Singh brand of products will now be exclusively sold on myntra.com and shersingh.com.
With this acquisition, Sher Singh’s senior management team along with its employees will be absorbed into Myntra and will contribute towards strengthening Myntra’s private label portfolio.
Myntra will leverage Sher Singh’s fashion and design expertise to strengthen its private label and presence in the US market.
Myntra will also maintain Sher Singh’s New York design studio to tap into the latest trends from one of the world’s leading fashion capitals.
Mukesh Bansal, Founder & CEO at Myntra.com, said, “Sher Singh’s team has built innovative and trendy fashion brands which speaks to the global marketplace…This acquisition will significantly enhance Myntra’s fashion and design expertise.’’
Launched in 2011 by Exclusively.in Inc, India’s leading boutique ethnic wear portal (www.Exclusively.in) for the US and UK, Sher Singh has Indian cricket superstar Zaheer Khan and actor-model actress Lisa Haydon as its brand ambassadors.
The company has offices in New Delhi and New York and has created the world’s first global cricket-inspired lifestyle apparel brand.