Under Armour in talks with Myntra for brick-and-mortar business management
today May 21, 2019
The U.S. sportswear brand Under Armour is in talks with the fashion e-commerce platform Myntra to become the first large international brand that Myntra’s new leadership team will manage offline in India.
Two sources told TNN that Under Armour and Myntra are in advanced talks to see Myntra manage Under Armour’s brick-and-mortar stores in India. The sources also reported that Myntra is keen to tie up with the brand as it is focusing on opening stores in mall locations as opposed to on high streets which typically have higher rents. The business is also concentrating on a younger customer base, catered to by thr Under Armour brand.
“The talks should fructify in a formal arrangement in a couple of months,” explained one of the sources. “There is aggressive focus on getting international brands to work with Myntra as exclusively as possible.”
If the partnership goes through, Under Armour would be the first large foreign brand to sign up with Myntra since Walmart acquired the business’ parent company Flipkart a year ago. The acquisition has led to significant changes in the management of Myntra which has also led to a change in strategy.
Under Armour currently has one store in India in New Delhi which opened in March this year. The brand first entered India two years ago selling exclusively on Amazon India.
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