Published
Sep 1, 2017
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Myntra aiming to be India’s largest fashion house

Published
Sep 1, 2017

India’s online fashion retailer Myntra is aiming to be India’s largest fashion brand over the next 5 years, said a top company official.


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 Myntra turned EBITDA (Earnings before interest, tax, depreciation and amortization) positive in last 2 consecutive months and is expecting a double digit EBITDA profitability in the next 18-24 months. The company credited its private labels for the growth as it delivered about 23% of business over the last one year.
 
With its Myntra Fashion Brands (MFB) portfolio, the Flipkart owned etailer is now eyeing to be the undisputed leader in India.

Manohar Kamath, Chief of Myntra Fashion Brands in a statement said, “Our vision is to build Myntra Fashion Brands into the largest fashion house in the country in the next 5 years and be the supplier of private brands to the world.
 
“We are investing in building brand equities, innovating wisely, using consumer/ business insights intelligently, building strong vendor relationships, using smart pricing (AI based tech lead pricing), knowing the shape of our brand price elasticity curve and managing each category differently with tech-led innovation plus visual merchandising,” he added.
 
Flipkart, India’s leading homegrown online retailer, and its fashion arms Myntra and Jabong together control two-thirds of the country’s online fashion market.
 
MFB has over 50% of its business coming from brands that have been built over a period of 5 years. Roadster is the fastest growing Denim/ Casual wear brand in the country with a run rate of over $100 million. It is also the largest brand on the Myntra platform, the statement added.
 
Also contributing to MFB is HRX – the active wear brand with Hrithik Roshan and All About You – a premium women's wear brand with Deepika Padukone.
 
 

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