Walmart-backed Myntra announces foray into West Asia

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Published: July 30, 2020 1:30 AM

At Walmart’s annual shareholding meet in the previous year, company executives had said they were exploring if Myntra’s brands can be listed on the retailer’s US online marketplace.

Last year, Myntra had briefly launched a pilot with Walmart Canada.Last year, Myntra had briefly launched a pilot with Walmart Canada.

Myntra has made its global foray with the launch of the company’s in-house fashion brands in West Asia.

The Walmart-backed company has partnered with UAE-based Emaar Group’s e-commerce platforms noon.com and namshi.com for the offering, the firm said in a statement on Wednesday.

CEO Amar Nagaram said Myntra is looking forward to a five-time growth from the partnership over the next two years. West Asia, with its high mobile penetration, large population of Indian origin, similar taste in fashion and a suitable demographic profile, has the potential to add to the company’s growth. “This marks the next phase of growth for Myntra. Myntra will continue to explore new markets in order to build brands of international repute and expand its base of global consumers,” Nagaram said.

Last year, Myntra had briefly launched a pilot with Walmart Canada. Under the arrangement, the company’s brands were made available on Walmart’s Canada online marketplace. At Walmart’s annual shareholding meet in the previous year, company executives had said they were exploring if Myntra’s brands can be listed on the retailer’s US online marketplace.

The announcement comes shortly after parent Walmart led a $1.2-billion investment in Flipkart to boost its expansion amid stiff competition.

Myntra is largely betting on casual wear categories. The brands that have been launched on Noon are Dressberry, Mast & Harbour, Moda Rapido, Here & Now, Sztori and HRX. Namshi will list a clutch of these brands over the next few weeks.

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