Home / Knowledge / News / Fashion / Myntra eyes $1 billion annualised GMV by 2016
Myntra eyes $1 billion annualised GMV by 2016
08
Dec '15
Fashion and lifestyle products e-commerce platform Myntra has said that it plans to cross $1 billion annualised GMV (gross merchandise value) by 2016 in a profitable manner.

“We are roughly at about $500 million in GMV as of today. We are growing between 60 to 70 per cent month-on-month. We will try and get to a billion dollar GMV in 2016," Myntra CEO Ananth Narayanan told reporters in Bengaluru.

He said the company will get profitable again by end of next year.

Narayanan underlined that Myntra's consumer traffic continues to rise. "Our monthly active users is roughly about 7.6 million; our repeat rate is highest in the industry - we are now at 80 per cent."

Although Myntra adopted an app only platform in May this year, it has decided to return to web presence, but Narayanan insists that here is no problem with the app.

"Our app only strategy is working - if you just look at the repeat consumers, if you look at the life time value of the consumer and how happy they are - all of that are actually working," he said.

“Consumer centricity stand point is a big focus area for us. One other focus area in consumer centricity is we have something called Net Promoter Score which is NPS, our goal is to be consistently ten points NPS higher than any other player," Narayanan added.

The Myntra CEO was speaking to reporters at the 4th Annual Brand Summit the company had organized in Bengaluru.

Narayanan revealed that one of the important strategies for the company's growth includes its brand, and said Myntra has partnered with over 1,700 leading fashion and lifestyle brands. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Jun 2017

Alfredo Grassi to develop graphene-enhanced workwear

Alfredo Grassi, manufacturer of customised protective clothing,...

Courtesy: IMRG

Apparel/Garments | On 23rd Jun 2017

UK online retail sales up only 10.2 pc YoY in May 2017

UK online retail sales were up 10.2 per cent year-on-year (YoY) in...

Courtesy: Radicigroup

Textiles | On 23rd Jun 2017

Radici Chimica focuses on business continuity

Radici Chimica SpA, a strategic RadiciGroup company, is keen on...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search