Myntra Personal care segment to contribute 8% revenue in 2 years

Fashion e-commerce major Myntra is investing in growing personal care segment to cater to the "masstige" section and expects it to contribute 7-8 per cent of its revenues in the next two years.

Myntra CEO Ananth Narayanan said “Personal care is an important category and we are investing in it. The purchases are more frequent and we have seen a strong growth in the category with brands like Estee Lauder. While the segment is small, it is growing and should contribute 7-8 per cent of the company's revenues in two years. We will look at more mass-premium or masstige products like a Mac or Bobbi Brown. We also hope to bring in more international brands to India. Company would look at playing in what is popularly referred to as the "masstige" segment. With over 30 million monthly users coming to Myntra and Jabong platform, and it is well positioned to tap into the category.”

Flipkart Group Company aims to clock total revenue rate of USD 2 billion by March 2018. The personal care segment includes niche players like Nykaa as well as those like Amazon and Flipkart.