Walmart-owned fashion retailer Myntra has acquired 100 per cent stake in Bollywood star Deepika Padukone’s fashion brand, ‘All About You’, for an undisclosed amount.
The deal is one of the most significant celebrity brand acquisitions in recent times. The brand was launched in 2015 with Deepika Padukone and Myntra as equal partners and has since become the leading women’s wear brand on the Myntra platform.
“Collaborating with Myntra and creating a brand such as ‘All About You’ has not only been creatively satisfying but has also taught me a lot,” said Deepika Padukone.
“I wish the brand and the team much success as they embark on a new journey,” she said.As part of the next step, Myntra plans to popularise the brand further by making the collection accessible to customers in unexplored markets in India.
“Our partnership with Deepika Padukone and ‘All About You’ has been extremely fruitful,” said Manohar Kamath, Head, Myntra Fashion Brands.
“Over the years, we have successfully managed to create a brand that resonates with the modern Indian woman and as part of the next phase of growth, Myntra has now acquired full stake in the brand,” he said.Myntra has been partnering with many celebrities for various brands. These include brands such as HRX, co-owned by Exceed Entertainment, Hrithik Roshan and Myntra. There is also ‘House of Pataudi, co-owned by Exceed Entertainment, Saif Ali Khan and Myntra.
This new acquisition comes at a time when Myntra is expanding in international markets. It recently forayed into the Middle East and launched Myntra Fashion brands there. The Bengaluru-based company has partnered with the leading regional e-commerce platforms, noon.com and namshi.com to offer brands of Indian origin to millions of fashion-forward shoppers in the region.
