New Delhi: Flipkart-owned Myntra has acquired majority stake in HRX, the active lifestyle brand co-owned by Bollywood actor Hrithik Roshan, and Exceed Entertainment. HRX, one of the first homegrown Indian active lifestyle brand incepted in 2012, was exclusively licensed to Myntra in 2013, and has been one of the top selling brands on Myntra since then. Also Read: Myntra to buy Hrithik Roshan’s HRX fashion brandThe move will enable the HRX brand to leverage certain benefits exclusive to Myntra’s in-house brands, leveraging technology to provide better consumer experience, access to data on consumer preferences etc, it said. In an emailed statement, it said: “Myntra has bought stakes from Hrithik and Exceed. The new partnership with Myntra is a stride closer towards fulfilling this mission,” Bollywood actor Hrithik Roshan said.

Source: Mint August 12, 2016 13:41 UTC