 "Myntra isn't looking to take its e-commerce service outside the country, but will be selling its private label products in Walmart stores overseas")
Myntra is undertaking an internal restructuring that will result in 50 employees being laid off.
Sources said that a majority of the employees in the in-house brand vertical will be affected, according to a report in The Economic Times (ET).
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The changes are part of a new strategy deployed by the Flipkart-owned fashion platform as it plans to focus majorly on select private labels instead of in-house brands.
The key focus would be on brands such as Roadster, HRX, and Mast and Harbour.
A Myntra spokesperson said that the company reviews the organisational structure from time to time.
"As part of this business-as-usual recalibration, wherever a small number of roles may be impacted, we offer our employees an opportunity to alternate positions, where available, within the organisation as well as group companies,” the spokesperson said.
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Over the past few years, Myntra has launched around 20-25 brands such as Invictus, Ether, and Sangria, internally referred to as ‘master brands’, according to the ET report.
Myntra, led by CEO Nandita Sinha, is seeing increased competition from rivals such as Ajio, and Cliq.
Sinha had said that the online platform wants to attract 10 million Gen-Z (generation Z which is born between 1997 and 2010) users over the next two years.
