Myntra did not respond to the development.
Business Standard had earlier reported that after Walmart's $16-billion investment in May, Myntra was looking to go global.
While Myntra isn’t looking to take its e-commerce service outside the country, the company will be selling its private label products in Walmart stores overseas. Flipkart co-founder Binny Bansal had earlier said that e-commerce and retail were very local businesses and it was difficult to take the model and apply outside.
At present, Myntra has 14 private brands, varying in size from among the best-selling brand on its platform to relatively smaller ones. As a whole, Myntra’s private label business drives 25 per cent of its revenues from its in-house brands to which the company expects to grow to 30 per cent by the next fiscal year.
Sources said Myntra’s other celebrity endorsed brands such as HRX by Hrithik Roshan are also in the pipeline to be sold in Walmart stores globally.
“The conversations (between Myntra and Walmart) have started. Those are around finding areas where we can accelerate together — whether it’s going global with Myntra or them taking our learnings from the omnichannel and supply chain,” Ananth Narayanan, chief executive officer of Myntra-Jabong had told this newspaper earlier this month.
Narayanan had said his goal was to make Myntra a global brand in the next three years.