Myntra set to be profitable by 2018, to launch global brands Hugo Boss and Hackett

By

Maverick Martins

Published
Dec 2, 2016

 India’s leading online fashion destination Myntra said that the company is on track to become profitable by financial year 2018.

Myntra, which houses over 2000 fashion brands, will also launch iconic global fashion labels Hugo Boss and Hackett on its platform.
 
The Flipkart owned e-tailer also disclosed that the acquisition and turnaround of Jabong and recently concluded festive season led the company towards 80% year on year growth with a revenue run rate of $ 1 billion.

"Myntra, Jabong and Flipkart together have 70% market share in the country today and will continue to grow this by empowering brands and customers. We are on track to achieve scalable and sustainable growth and will be EBITA positive in FY18," said Ananth Narayanan, CEO of Myntra and Jabong.
 
According to Narayanan, the company is at the forefront of fashion in India today with over 18 million monthly active users.
 
"Our unique approach to leverage technology to decode fashion has helped us become the fastest growing online fashion platform," he said further.
 
For customers Myntra is leveraging artificial intelligence and machine learning for a personalised shopping experience, better product discovery and assisted buying, the company said in a statement