Myntra to launch home furnishings, jewellery and personal care segments

Online fashion marketplace Myntra is expanding into furnishings, precious and non-precious jewellery and personal care segment so as to widen its consumer base as well as shore up its profits. The company is expecting revenues of Rs 500 crores from home furnishings alone in the next two years.

The company is confident that this move will help it to attain profitability by 2017. It is now ready to take on other players in the segment such as Urban Ladder, Pepperfry, Nykaa and Bluestone. For home furnishings, Myntra has tied up with 40 brands. By July it will launch both personal care and jewellery segments. Flipkart-owned Myntra was toying with the idea of launching home furnishings and jewellery two years ago but decided against it as home furnishings was high on logistics costs and had low repeat orders. For precious jewellery, hi-tech features such as live chats were required which they didn’t have.

Home furnishings is a 3,000 crores category and is growing at 70 per cent year-on-year. Speculations are that this move by Myntra could have been fuelled by the entry of two big players – Reliance and Aditya Birla - into the online fashion space.