India : Myntra to be EBITA positive by FY18: CEO Narayanan

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Home / Knowledge / News / Apparel/Garments / Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra to be EBITA positive by FY18: CEO Narayanan

03
Dec '16

Courtesy: Myntra

Myntra is on track to achieve sustainable growth and be EBITA positive by 2018, said the CEO of the e-commerce site, Anant Narayanan. The fashion e-commerce portal has witnessed 80 per cent year-over-year growth with a revenue of $1 billion, owing to the acquisition of fashion e-retail website Jabong and the recently concluded festive season.

“We are at the forefront of fashion in India today, with over 18 million active users each month. Our unique approach to leverage technology to decode fashion has helped us become the fastest growing online fashion platform,” said Narayanan at Myntra's 5th Annual Brand Summit-Tech Threads held in Bangalore.

“Myntra, Jabong and Flipkart together have 70 per cent 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,” added Narayanan.

Myntra also introduced several features to enhance customer experience and used technology to empower its customers and brands. It leveraged Artificial Intelligence (AI) and Machine Learning for a personalised shopping experience, better product discovery and assisted buying for its customers.

Myntra also provides brand performance and analytics support to its brand partners along with customer insights to develop a loyal fan base and facilitate engagement. In line with this strategy, Myntra had launched a new portal to provide brands with customised insights and competitive intelligence reports to manage their performance on the platform. (KD)

Fibre2Fashion News Desk – India

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