Myn­tra, Jabong To In­vest $300 mn To Gain Mar­ket Share

Shoes & Accessories - - The Month That Was | Updates I India -

Flip­kart sub­sidiaries Myn­tra and Jabong are ready to scale up their mar­ket share with plans to in­vest $300 Mn over the next three years. The an­nounce­ment comes soon af­ter their par­ent com­pany, Flip­kart, re­vealed its plans to be an ‘ex­clu­sive’ fash­ion stop, while chas­ing a tar­get of $1.7 Bn GMV (gross mer­chan­dise value) by the end of March 2019.

Ac­cord­ing to re­li­able source, with Flip­kart’s plans, Myn­tra and Jabong also ex­pect to triple their GMV to $4 bn in three years, from $1.2 Bn in FY17.

Also, the com­pa­nies aim to triple their com­bined cus­tomer base and im­prove their share of the do­mes­tic on­line fash­ion mar­ket to 50%, from an es­ti­mated 35% now.

Dur­ing Myn­tra’s flag­ship sale End of Rea­son Sale (EORS), the Flip­kart sub­sidiary gar­nered 500K new cus­tomers. With this, Myn­tra also ex­pects to be­come pos­i­tive in the next three years.

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