Myntra has shut a prominent Mango store in Mumbai and its flagship store of private brand Roadster in Bangalore. These stores had marked the company’s high-profile entry into brick-and-mortar retailing. Apparently the Roadster and Mango outlets were making losses. Sales were weak compared to the high rentals.
Myntra had spelt out plans barely nine months ago to roll out 100 physical outlets —half of them of Roadster and the rest of HRX, Mango and others — to tap the complementary omni-channel initiatives. 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 it had planned, including a department store chain, a women’s fashion chain called Myntra Women, a cosmetics format Myntra Beauty and sports and lifestyle outlets. Prior to shelving 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.