Fashion retailer Myntra to expand its presence in Silicon valley

Flipkart-owned fashion retailer Myntra plans to expand its presence in Silicon Valley, as part of a broader push to invest more on technology this year, with the retailer looking to hire an executive to head a small team of data scientists in the US, reports Livemint. 

Myntra is planning to add more than quarter of its overall revenue from its portfolio of private brands that it has added in its brand accelerator programme, said Ananth Narayanan to Livemint.
 
According to the report, Myntra, which already has a small office in Silicon Valley through its 2013 acquisition of San Francisco-based start-up Fitiquette (which had developed a virtual fitting room technology), will put a separate team in place in the US.
 
“We are ramping up tech hiring big time. Our biggest investment by far will be in tech. We will grow tech much faster than revenue. We are hiring architects, we are hiring data scientists, we will hire a head of data science, we will hire people in the US. We’ll have a small team in the US,” said Narayanan to Livemint.
 
Myntra aims to integrate technologies such as artificial intelligence (AI) and machine learning through all of its business processes.