Jan 2, 2017
Myntra eyes USD 2 billion run rate by March 2018
Jan 2, 2017
India’s leading online fashion etailer Myntra is expecting to double its revenue run rate from USD 1 billion to USD 2 billion and become profitable by end of March 2018.
Flipkart owned Myntra is looking to achieve the target by rationalising costs, cutting discounts and introducing more private labels.
"We crossed a billion dollar run rate this year, we want to cross a USD 2 billion run rate by 2018 March, and we want to be not just unit economic positive but overall profitability. We want to exit the next year with EBIDTA zero January-March 2018," said Myntra, chief executive officer, Ananth Narayanan to a media agency.
"We are focusing on four things -- continue to reduce discounting, continue to ramp up private labels, reduce supply chain costs and increase consumer engagement. These are things that will help us achieve our targets," he said.
Myntra has tied up with a host of celebs to boost its private labels segment and has plans to launch some more this year.
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