Flipkart-owned e-commerce firm Myntra is in advanced stage of discussions to run offline stores of the top US sportswear brand Under Armour in India, people aware of the matter said.
If the deal materialises, Under Armour would be the first international brand to be on-boarded for offline store management under Myntra’s new management that came in place after Walmart acquired 77 per cent stake in Flipkart Group last year.
Myntra is looking to manage its offline stores in high-footfall shopping malls, targeting young shoppers.
After the exit of CEO Ananth Narayanan and subsequent changes in the firm, Myntra opened a 3,200 sq. ft. store in Bengaluru that is smaller than the flagship Myntra’s Roadster store (4,000 sq. ft.) which was shut earlier this year.
People aware of the matter said that Myntra is focusing on managing stores in high-footfall shopping malls targeting young shoppers, instead of high-street locations.
“The talks should fructify in a formal arrangement in a couple of months. There is aggressive focus on getting international brands to work with Myntra as exclusively as possible,” the person said.
Myntra has also inked a pact with H&M to sell its products across Myntra and Jabong, in March. Typically, under such agreements, Myntra would open 10-12 offline stores and those products will be available exclusively on Myntra-Jabong.
Incidentally, Under Armour first entered India two years ago by selling exclusively on Amazon India.