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Myntra hopes to see 20 fold jump in End of Reason sales

By Meenakshi Kumar

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Online fashion retailer Myntra is back with its ‘End of Reason’ sale beginning July 2. The two-day sale, to be held on July 2 and 3, is expected to see a 20-fold jump in daily sales. The company expects 10 million people to shop on its platform. The company has invested strongly in strengthening the platform and ensuring that logistics remain smooth during the fourth edition of End of Reason sale (EORS). Discounts up to 80 per cent will be offered to customers on the sale days. This sale will be twice as big as the last one held in January. Over 2,000 Indian and international brands will be part of EORS including 11 of Myntra’s in-house brands.

Myntra was acquired by Flipkart in 2014. For the fiscal ended March 2016, Myntra had gross merchandise value (GMV) of 500 million dollars (Rs 3,300 crores). For the current fiscal, the company is eyeing one billion dollar. Myntra had gone app-only store in 2015 but soon realised that it wasn’t working out for it. So now, it’s back to its website version from June 1.

Myntra