Myntra to float IPO, plans own apparel line

Myntra.com, a fast growing e-commerce platform

for fashion and lifestyle products, is all set to launch its own clothing line within a month’s time. The new line developed exclusively by them will be retailed on Myntra.com platform and may have multiple brands, depending upon the kind of products and the target consumer.

Plans are also afoot to float an IPO to raise funds in the next couple of years. It already has four investors on board. The portal, which posted a turnover of Rs 80 crores in the last financial year, is now eyeing Rs 500 crores turnover by the end of this fiscal.

Myntra.com makes 8,000 transactions per day and sells around 10,000-12,000 items on a daily basis while around 600,000 visitors visit the website everyday. Recently, it tied up with Bangalore-based Breakbounce, a street-wear fashion brand to market its products. Breakbounce clothing has been made available to consumers exclusively on Myntra.com.

Myntra has tied up with over 500 leading fashion and lifestyle brands in the country such as Nike, Adidas, Puma, Lee, Levis, Wrangler, Arrow, Jealous 21, Biba, Fabindia, US Polo and offers a wide range of branded fashion and lifestyle wear.