Myntra aims to ramp up sales from ongoing End of Reason Sale by 50 percent

Myntra the Flipkart-owned online fashion retailer, is aiming to grow sales from its flagship year-end event, the End of Reason Sale, by at least 50 percent from the previous edition, with two tier towns and cities expected to be major growth drivers. The End of Reason Sale starts from today and ends on December 25. Myntra chief executive officer Ananth Narayanan says the online fashion retail firm is on track to hit profitability at an operational level by the end of the financial year, with annualized gross sales expected to be around Rs 8,000 crore ($1.25 billion).

Myntra, will get the sale forward this year to make it coincide with other year-end sale events, putting it in direct competition with large brick-and-mortar retailers. Myntra has signed up at least 3,600 kirana stores for the sale event, compared with about 800 stores in the previous edition of End of Reason Sale.

The company is to sell out-of-season wear in two days flat, along with some current fashions, to be able to launch the new season’s collection much ahead of brick-and-mortar retailers, at full price. Myntra also expects its portfolio of private labels, which includes the likes of Roadster, actor Hrithik Roshan’s brand HRX and Moda Rapido, to generate at least 25 per cent of overall sales during the event.

It is expecting at least 60 per cent of overall sales from Tier-II, III cities. Myntra is expected to hand out hefty discounts of up to 60 per cent to customers. Top brands that will be sold during the event include the likes of Nike, Swarovski, Tommy Hilfiger, Marks & Spencer and Mango.