Myntra aims to offer 1,000 brands online

June 7th, 2012 - 9:01 pm ICT by IANS  

Kolkata, June 7 (IANS) Myntra.com, one of the leading e-retailers in India, is planning to expand brands for online shopping to 1,000 from the current 300 by this fiscal-end, a top company executive said Thursday.

“We would like to include 1000 brands at the end of the current financial year. We are targeting major national and international brands in premium and mid-premium segments in fashion and lifestyle products,” Myntra.com co-founder Ashutosh Lawania said here.

Lawania said the Bangalore-based fashion retailing firm, which was now delivering 8,000 products every day, was aiming to deliver 35,000 products per day by March 2013.

The company garners 55 percent of its total revenue from tier II cities and rest from the metros.

Lawania said the e-commerce company was aiming to have 2 million online customers at the end of the current financial year from 400,000 customers right now.

Myntra, which is the top five e-commerce companies, has its own delivery centres in nine cities in India at present and is looking to increase the number.

“By July this year we will have delivery centres in 20 cities,” Lawania said.

The company garners about Rs.20 crore revenue every month and targets Rs.500 crore (Rs.5 billion) in FY13.

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