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First physical store of Myntra to open in 3 months

Myntra

Mumbai: Online lifestyle retailer Myntra is planning to open its first physical store in India in 3 months. Myntra, which has kept a target of $1 billion in sales and profitability next year, has already come back to desktop and is also available as an app.

Myntra’s is planning to open its first store either in Bengaluru or New Delhi and is expecting huge turnout in new segments, including home furnishing. Myntra is working on re-launching a personal care business and expanding its sales of fine jewellery.

CEO Ananth Narayanan told “We are exploring omni-channel. We should be able to create a physical store in the next three months. We plan to launch omni-channel with our private brands – Roadster, HRX and All About You. In just three months, home furnishing is about 1 per cent of the revenue and it’s growing at 50-60 per cent month-over-month. We are looking at getting about 5 per cent of our revenue from home furnishing.”

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