Myntra eyes 2.5 lakh new users in festive sale
"This is the second year that we will be part of BBD. We expect 5x sales during BBD, scheduled to be held on October 2-6. With brands offering discounts of up to 70 per cent, we will have 2.5 lakh styles and designs for shoppers," Myntra CEO Ananth Narayanan told PTI.
He added that consumers will be able to choose from brands like Roadster, HRX, Dressberry, Anouk, Alcott, Forever 21, Marks & Spencer and French Connection, among others.
"While the End of Reason Sale will remain our flagship event, the BBD sale offers us a chance to onboard new customers. We expect to get 2-2.5 lakh new users," he said.
Besides, Myntra has also augmented its logistical capabilities to manage about two lakh deliveries per day, he added.
However, Jabong will not be a part of the sale. Myntra, which itself was acquired by Flipkart in 2014, had bought rival Jabong for USD 70 million in July from Global Fashion Group (GFG) to consolidate its position in the booming Indian e-commerce industry.
For the fiscal ended March 2016, Myntra had gross merchandise value (GMV) of USD 500 million. For the ongoing financial year, the company is eyeing the USD 1 billion mark.
According to research firm RedSeer Consulting, festive sales are expected to help e-commerce companies register transactions worth USD 1.5-1.7 billion in October.
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