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Myntra set to hit profitability in FY18

The focus of the company for 2017 will be to provide more personalised services to its customers

Anita Babu  |  Bengaluru 

Flipkart owned online fashion retailer Myntra has pushed plans by a quarter to turn profitable with a new deadline of March 2018, when the firm expects its sales to double to over $2 billion. Myntra, which bought its rival Jabong in July from Rocket Internet for $70 million, says a combination of rationalising costs and cutting discounts while selling premium brands would help it to achieve profits. "We are on track to achieve scalable and sustainable growth and will be EBITA positive in FY18," said Ananth Narayanan, chief executive officer of Myntra and Jabong. He claimed ...

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Myntra set to hit profitability in FY18

The focus of the company for 2017 will be to provide more personalised services to its customers

The focus of the company for 2017 will be to provide more personalised services to its customers Flipkart owned online fashion retailer Myntra has pushed plans by a quarter to turn profitable with a new deadline of March 2018, when the firm expects its sales to double to over $2 billion. Myntra, which bought its rival Jabong in July from Rocket Internet for $70 million, says a combination of rationalising costs and cutting discounts while selling premium brands would help it to achieve profits. "We are on track to achieve scalable and sustainable growth and will be EBITA positive in FY18," said Ananth Narayanan, chief executive officer of Myntra and Jabong. He claimed ... image
Business Standard
177 22

Myntra set to hit profitability in FY18

The focus of the company for 2017 will be to provide more personalised services to its customers

Flipkart owned online fashion retailer Myntra has pushed plans by a quarter to turn profitable with a new deadline of March 2018, when the firm expects its sales to double to over $2 billion. Myntra, which bought its rival Jabong in July from Rocket Internet for $70 million, says a combination of rationalising costs and cutting discounts while selling premium brands would help it to achieve profits. "We are on track to achieve scalable and sustainable growth and will be EBITA positive in FY18," said Ananth Narayanan, chief executive officer of Myntra and Jabong. He claimed ...

image
Business Standard
177 22