Myntra to introduce size chart by April

Myntra, Flipkart’s online fashion arm, will launch a uniform size chart so that it reduces merchandise returns. The chart will be ready by April. Myntra has set a target of turning profitable by March 2017 and is boosting in-house brands that earn higher margins.

The need for a standardised chart size is important because each company in India has its own understanding of sizes. As a result it leads to confusion and nearly 50 per cent of returns on Myntra platform itself. Now the company wants to cut the rate by 30 per cent. Experts say that returned goods push up the average cost of delivery by 50 per cent. Ashutosh Lawania, Co-founder, Myntra, believes that it’s important to reduce this cost especially at a time when most retailers are in the red.

In the West, there is a standardisation of size and most retailers and manufacturers follow that. But in India, it’s different and hence, it becomes important to address this pain point.

Bengaluru-based Myntra has nearly a dozen brands under its portfolio which account for 21-22 per cent of sales. However, it wants to earn nearly a third from its own labels. The company believes that growth of inhouse brands will be one of the key drivers in achieving profitability. In 2014-15, Myntra’s losses amounted to Rs 740 crore.