Myntra set to achieve profitability in 2017/18
Myntra has clocked revenue of $1billion and it is now chasing profitability in coming fiscal year.
Online fashion retailer Myntra which has grown steadily and swiftly over the years, is now regarded as one of the best in the business. The fashion portal which is now a Flipkart entity makes available clothes at its platform belonging to exclusive brands in best quality at reasonable prices. Myntra is known in the market for its discounts and mouthwatering deals and Myntra fashion sale surely helps customer get best fashion products at exciting prices. Inspite of such discounts and Myntra offers, the online major has failed to achieve profitability in recent times and this certainly requires formulation of better strategy to rectify the situation.
Myntra set to experience profitability in coming year –
The last year has proved quite tremendous for Myntra and it is claiming 80% year on growth this time from the last year. With Flipkart acquiring its rival Jabong, Myntra has clocked revenue of $1billion and it is now chasing profitability in coming fiscal year. The Myntra shopping offers has surely hit the jackpot and the festive season sale has contributed immensely to the growth of revenue for the Myntra. The previous year has certainly proved as a milestone and like several Myntra clothing deals, it has come across as more strengthened and ushering on the path of profitability.
Myntra aims to double its sales to achieve profitability –
Having seen a difficult time in recent past, Myntra is slowly and steadily reviving its fortunes. The online major that clocked 1.6 million orders in its 3 day sale in January is now considering doubling its sales in order to achieve profitability by March 2018. Cost cutting, promotional discounts through Myntra coupons and Myntra promo codes as well as introduction of private labels have made this possible and this certainly is going to be a challenging and rewarding period for Myntra.