Myntra, the fashion ecommerce player, is expected to take some of its private brands, especially those promoted by celebrities, to some global markets during the next six months in a bid to increase its sales this festive season by 50% over last year and readying several parallel strategies to meet the target. The fashion startup is expected to achieve overall EBITDA profitability by the end of FY18 since its private brands have reached 5% profitability levels in current year. Ananth Narayanan, CEO of Myntra, said that “This festive season, we have a series of regional events, for example for Durga Puja in the eastern states, Onam in Kerala, and Navratri in Gujarat. The app will be personalized based on pin codes. We will start with the festive season, and if it goes well, we will continue with it”.
The firm, along with Jabong, has a GMV run-rate of $1.5 billion currently and looks to reach $1.7 billion by the end of 2018. Its fashion brands have seen 100% growth in revenue from $150 million last year to $300 million currently. Myntra Fashion Brands, which comprise 13 private brands, currently contribute 23% to the platform’s overall revenues. The private brands are expected to contribute 35-40% of the company’s total revenues in the next 18 months.