Flipkart's fashion division Myntra is planning to enter the United States market and has set up a subsidiary, Myntra Inc, in the US for this purpose. Myntra's growing losses, estimated at Rs 173 crore in the last financial year,are pushing the online fashion portal to look at overseas opportunities, reported the Financial Express.

Myntra in a recent press conference said it wanted to achieve profitability by financial year 2016-17, and was hence looking to slash discounts. It aims to achieve a gross merchandise volume of $1 billion (Rs 6,772 crores approximately) by the end of financial year 2015-16. “Since the last quarter, we stopped blindly offering discounts. Rather, we became intelligent about it and took the help of technology to figure out what discount can be given to which product seeing its price and demand. We don’t want to be a discount-led platform, but a mass premium player,” said chief executive officer Ananth Narayanan.