Spanish fashion conglomerate Grupo Tendam, parent company to fashion chains and brands such as Cortefiel, Springfield and Women'secret, has announced a partnership agreement with Indian fashion e-tailer Myntra for its entry, growth and expansion in the strategic Indian market. The first steps in this direction have already been taken with the opening of the first two mall stores, one in tier-1 city Pune and one in tier-2 city Ludhiana. Within the next three years, the group plans to open around 20 stores.

According to the information about the agreement provided by Tendam, its intimate apparel chain Women’secret will spearhead this partnership in line with the company's operating method for its entry into new markets.

The brand is expected to end up starring in the first wave of openings carried out by Myntra as a franchisee partner of Tendam for the Indian market, starting with a total of two stores as a prelude to the future network of up to 20 physical points of sale. Over the next three years, both Women'secret and the rest of the main brands and chains in Tendam Group's portfolio will make up this network.

Myntra will also be responsible for developing the online channel for these brands and chains, in line with the omnichannel operating model that Tendam maintains as the basis of its business model. Women’secret is already available through Myntra’s online plattform.

“We are very happy to be able to count on a partner that allows us to develop our omnichannel business. Myntra is the ideal partner for us - it is aligned with our omnichannel strategy and has the capacity and knowledge to develop it fully in the country,” commented Antonis Kyprianou, general manager of the Tendam Group's franchise department, in a statement sent to FashionUnited.

Entry into one of the biggest growth markets

Through this strategic partnership with Myntra, the Spanish company begins its penetration of a market that is among the main emerging markets and one with the greatest potential within the fashion industry. A local partner such as Myntra will allow Tendam to gather more accurate and closer knowledge of the needs of the Indian consumer.

Myntra will to continue to strengthen its position as a main digital operator for multinational brands that hope to start their presence in the strategic Indian market and can draw from its experiences as a local partner for global fashion brands such as H&M and Mango. Myntra has equally strategic plans for boosting Mango’s presence in the country, reaching a total of around 110 points of sale by the end of financial year 2023.

“India is one of the markets with the greatest potential in the world and, for this reason, we want Tendam brands to have a significant presence there,” pointed out Kyprianou. An objective for which it would be essential to have “the help of a local company as powerful and dynamic as Myntra”.

As part of this same strategy, the partnership with Women'secret “will progressively provide Tendam with greater visibility and exposure to a broad customer base, in one of the most relevant markets at present and with the greatest growth prospects,” added Kyprianou.

This article was originally published on FashionUnited.es. Edited and translated by Simone Preuss.