Bigger slice on mind, Myntra to invest $300 million in 3 years


July 5, 2018

Written By Varsha Bansal, ET Bureau

BENGALURU: With fashion being the second-most important category after smartphones for the Flipkart Group, its Myntra and Jabong units plan to invest $300 million over the next three years to improve market share, according to people familiar with Flipkart’s three-year outlook.

Myntra-Jabong also expect to triple their gross merchandise value — a proxy for gross sales—to $4 billion in three years, from $1.2 billion in fiscal year 2017-18. The retailers intend to triple their combined customer base and improve their share of the domestic online fashion market to 50%, from an estimated 35% now, these people said. Myntra chief executive .

Source: economictimes