Myntra sees fivefold jump in revenue during sale

The sale, to be held on October 2-6, expected to have 250,000 new customers

India’s largest online fashion retailer Myntra is expecting a fivefold jump in daily turnover during parent Flipkart’s Big Billion Days sale.

The sale, which will be held on October 2-6, will woo customers with discounts as high as 70 per cent. Myntra expects 250,000 new customers to shop during the five-day period, according to a PTI report.

“We have put in place several innovative features to enhance the customer experience and have augmented our logistical capabilities to manage 200,000 deliveries a day,” Ananth Narayanan, CEO of Myntra, said in a statement.

Myntra has exclusive partnerships with brands like Forever 21, Marks & Spencer and French Connection for the five-day sale. The company will also push its own brands Roadster, HRX and Dressberry.

Rival Amazon is opening its sale a day ahead of Flipkart and Snapdeal. For Flipkart, fashion is the only category where it is not being hounded by Amazon, making Myntra’s sale all the more important.

Jabong, a competing fashion e-commerce player that Myntra recently acquired for $70 million, will not be a part of this sale because it is not prepared for the spike in transactions during Big Billion Days.

Myntra, acquired by Flipkart in 2014, continues to host its own marquee End of Season sale, but since last year it has been participating in the Big Billion Days sale. Myntra says it has no plans to shut its End of Season sale.

Online retail has been subdued in 2016 after discounts by e-commerce players declined but analysts expect festive season sales will take industry revenue to levels similar to last year.4