Flipkart-owned online fashion retailer Myntra is in advanced talks to run offline stores of the US sportswear firm Under Armour in India, the Times of India reported.

If the deal materialises, Under Armour will become the first foreign brand to be on-boarded for offline store management under Myntra's new management that came in place after the US retail giant, Walmart, acquired a 77 percent stake in Myntra-parent Flipkart last year. Flipkart also runs the online fashion retailer Jabong.

Myntra is looking to manage its offline stores in high-footfall shopping malls, targeting young shoppers, the quoted a source as saying.

“The talks should fructify in a formal arrangement in a couple of months", a source told ToI.