Top Story


Home >> Digital >> Article

Myntra crosses $1bn GMV; aims to be EBITDA positive in FY18

Font Size   16
Myntra crosses $1bn GMV; aims to be EBITDA positive in FY18

As we enter into the New Year, we take a look back at Myntra’s pace of growth and transformation in the year that went by.

The online shopping portal grew by leaps with 80 percent growth year-on-year

In the month of October, Myntra clocked in $1 billion+ GMV run rate with higher full price sale @2X of horizontals.

“The year also saw Myntra hit a higher NPS score of +20 over the closest horizontals. The brand has achieved a monthly active user base of 18 million and over 30 million app downloads and 50 million page views per day,” recalls Ananth Narayanan, CEO, Myntra and Jabong.

Narayanan has been setting even more ambitious targets for the next fiscal given the momentum that has come to play. The acquisition of Jabong has seen a successful turnaround and a return to growth path for the company even as synergies helped strengthen portfolio and benefit from technology integration.

Narayanan added, “We are 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. 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 EBITDA positive in FY18.” 

Currently, 200+ brands leverage Myntra’s platform to engage with customers, two million followers across top 20 brands, 12 million post interactions per month, higher click through rates than other social media channels.

Narayanan foresees the next five years to see significant increase in number of brands in the country. Myntra will leverage technology to empower its customers and brands. “For customers, we are leveraging Artificial Intelligence (AI) and Machine Learning for a personalised shopping experience, better product discovery and assisted buying. We have has introduced several features to enhance customer experience resulting in Myntra being 20 points ahead on NPS than the industry,” said Narayanan.

Vinik Karnik, Business Head - ESP Properties, talked about what went into conceptualising the first edition of the entertainment marketing report, Showbiz

Rahul Jhamb, Brand Head, Forever 21, on how the fast fashion brand always stays on the pulse of latest marketing trends

Heavy spends on OOH and print sum up this year’s ad spends of YLG Salon

Baba Ramdev brought his sharp wits for an interview with e4m where he promised to disrupt more markets and spoke about he the way he created a brand through consistent and selfless work

Heavy spends on OOH and print sum up this year’s ad spends of YLG Salon

Thomas, Chief Marketing Officer, Diageo India, gives us a peek into the marketing strategy for McDowell’s No 1 Soda, its creation of ‘No 1 Yaari Jam,’ their own set of 4Ps and importance of content

Prior to joining Madison PR in 2012 Chaudhary was Group President Corporate Communications at Reliance Industries Limited.