Myntra, a fashion etailer owned by Flipkart, is planning to take another step into the global market by selling its in-house brands across US Walmart stores. The development follows the online launch of the Myntra brands on Walmart Canada.
The company, which was acquired by Walmart 10 months ago, highlights the possible synergies that can be expected now with 77% of the Flipkart group being owned by the world’s largest retailer.
“We enabled Myntra to be online in Canada and we are also anticipating launching Myntra brands in our stores in Canada in Q3, a nice compliment for an omnichannel experience for our customers,” said JP Suarez, executive vice president and chief administration officer, Walmart International.
“We are exploring with the US any Myntra product here into the US online marketplace exploring all those trade lanes with Myntra products,” Suarez added.
Headquartered at Bengaluru, Myntra is an Indian fashion e-commerce company, aims to sell personalised gift items.
Walmart is also looking at taking up ‘fashion learnings’ from Myntra and see what can be implemented in other markets.
While, Myntra along with Jabong and Flipkart Fashion commands major market share in the Indian online fashion market. The company, following the Walmart acquisition witnessed restructuring and leadership changes in December.
In January 2019, a Tofler report also claimed that Myntra witnessed an 80% drop in revenue for the year ended March 2018 as it clocked in revenue of $60.6 Mn (INR 427 Cr). Its losses for the year stood at $21.4 Mn (INR 151 Cr) while its total expenses were recorded at $131.5 Mn (INR 926 Cr).