Myntra is in an advanced discussions to manage top US sportswear brand Under Armour’s offline stores in India. Once finalised, this would be the first major foreign brand being on-boarded for offline store management by the new leadership team of Myntra.
Myntra, which has been undertaking multiple changes following its former CEO Ananth Narayanan’s exit. The company is focusing on managing stores in high-footfall shopping malls targeting young shoppers, instead of high-street locations, which also typically have higher rents. Under Armour first entered India two years ago by selling exclusively on Amazon India. It has one store in Delhi, which opened in March.
Myntra manages Esprit and Mango’s offline stores too. However, some of these stores are being renovated or being relocated to new locations to attract young shoppers. The company is tweaking its omni-channel strategy and brand-positioning as online and offline retailers are increasingly joining hands.