The apparel world is abuzz with the new ‘athleisure’ trend, which refers to stylish gym clothes that can be worn for athletic as well as leisurely pursuits. Online fashion house Myntra seems set on defying the e-commerce slump by acquiring a big stake in Hrithik Roshan’s active lifestyle brand HRX, the Mint reported.
HRX is currently backed by Exceed Entertainment, and sports an ‘atheleisure’ and an active-wear line of clothing that includes ‘compression tees’, sweatshirts and tracksuits. HRX sells online via Myntra and Flipkart and might be looking to open retail outlets in India this year with plans to expand internationally, Kamal Punwani, chief financial officer at Exceed Entertainment, told Mint.
Myntra has been looking to expand its private brands, which make up a third of its business. This deal will give it a foothold in the active lifestyle segment, which is growing on the back of the sporty lifestyle trend.