Myntra, one of India's leading e-commerce website for fashion has announced that it has witnessed 80 percent year on year growth with an industry leading revenue run rate of USD 1 billion.
The acquisition and turnaround of Jabong and the recently concluded festive season have contributed to this growth and strengthened Myntra's position on its path to profitability.
Ananth Narayanan, CEO of Myntra and Jabong said, "Myntra, Jabong and Flipkart together have 70 percent 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."
Myntra is hosting its 5th Annual Brand Summit- Tech Threads today, where delegates from over 300 leading Indian and international fashion and lifestyle brands will come together to deliberate over how e-commerce is shaping the growth of fashion brands in India.
The key focus areas for summit are the future of fashion ecommerce in India, customer trends and the role of technology to deliver effective consumer experiences. A brand playbook which will enable brands to customize and develop marketing campaigns to leverage Myntra as a digital marketing platform will be unveiled at the Brand Summit.