Fashion e-commerce platform Myntra is all set to expect a 20-fold jump in daily sales during its 'End of Reason' sale to be held on July 2-3. The company, which was acquired by Flipkart in 2014, expects about 10 million people to shop on its platform on the two sale days.
Myntra CEO Ananth Narayanan said that Myntra is geared up for its End of Reason sale (EORS). The brand has invested strongly in strengthening its platform and in ensuring that logistics remains smooth. The brand anticipates about 10 million people to shop on Myntra in the two days of this sale, which is the fourth edition of EORS. He further added that there will be up to 80% discount offered to consumers on the sale days.
Myntra on its fiscal ended March 2016 had Gross Merchadise Value (GMV) of $500 million. For the ongoing financial year, the company is eyeing the USD one billion mark.
Narayanan said that the ecommerce brand expects to see a 20X jump in revenues from what it does on an average day. This will also be about 2X bigger than its last sale in January.
He said that traditional retailers also have sales that usually last over weeks. Myntra is offering a similar sale, just that it is for 2 days. Most of these discounts are coming from the brands themselves.
Over 2,000 Indian and international brands will be part of EORS, including 11 of Myntra's in-house brands.