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
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
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.