Myntra expects to see five-fold jump in sales during upcoming sale

Flipkart-owned online fashion retailer Myntra expects to see a five-fold jump in sales during its upcoming three-day flagship End of Reason Sale that will be held between June 24 and 26.

For its sixth edition of the sale, Myntra says it has lined up a spread of over 10 million products from across 1,800 brands and is offering discounts of up to 80 per cent. The company expects the sale to attract 20 million customers, with over 400,000 of them being first time shoppers on its platform.

"EORS gets bigger and better with each passing season and the 6th edition will be the largest yet, along with Jabong's participation. We expect 20 million users to indulge in a shopping spree to pick the finest in fashion at attractive discounts of up to 80% during the three day carnival," said Ananth Narayanan, CEO of Myntra-Jabong, in a statement.

The company says it is geared up to handle four times the traffic on its platform during the period of the sale when compared to any of its baseline days. With over 20 million expected daily visits, which will be 18 per cent more than the previous version of the sale, it says that it will sell over 3 million items by the end of the three days.

To handle the extra load of deliveries during the three day sale, Myntra says it will tap its network of 800 offline retail stores for last mile deliveries. As with Flipkart's recent Big 10 sale, customers paying through sister payments firm PhonePe will get a 20 per cent cashback on each purchase.

Myntra had said it would become the first online fashion retailer to touch $1 billion in gross merchandise value. The company's growth has been augmented by the acquisition of Jabong, a struggling rival which it bought and was able to turn around in a few months.

The company is also experimenting with offline retail with its popular private label Roadster, and has setup an offline store in Bengaluru. Amazon, ahead of its upcoming "end of season sale" for fashion products plans to setup kiosks at 10 corporate parks across major metro cities.