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Myntra adopts marketplace model
Posted On: 01-05-2014 00:00:00 14

As per a report in Economic Times, online retailer Myntra.com is aiming to double its revenues to Rs 2,000 crore this year. The fashion retailer, which sells products from over 650 brands is said to have recorded revenues of about Rs 1,000 crore in the last year. To achieve its growth targets the company has started the marketplace model earlier this month – whereby they let out “space” on their site - while continuing with their own inventory as well. Currently, about 20% of revenue is driven by the marketplace model and they expect the figure to grow to about 40% by the end of this year.

Myntra has about 100 sellers on board presently. The marketplace is currently operational for vendors in Delhi-NCR, Bangalore, Mumbai and Surat and will expand to cities like Varanasi, Jaipur and Kolkata to give small, medium and boutique brands access to a huge customer base. The site aims to be the largest destination for ethnic wear in the country.

 
 
 

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