Myntra.com targets Rs 500 cr revenue

Myntra.com, a Bangalore-based e-commerce company focusing on fashion and lifestyle space, has targeted a revenue of Rs 500 crore in 2012-13 and Rs 5,000 crore a year five years down the line.

“We have been consistently doubling our revenues every 4-5 months,” founder and chief executive officer, Mukesh Bansal, told mediapersons here on Wednesday.

He said currently Myntra was grossing a monthly revenue of about Rs 15 crore with 500,000 people so far buying through the online retailer at least once.

According to Bansal, the company has a catalogue of 200 brands and delivers its products across the country. Tier II and III cities contribute nearly 50-55 per cent to its sales with the rest coming from the top 10 cities.

Andhra Pradesh, with 500-550 orders every day, is one of its fastest growing markets and accounts for 10-15 per cent of the overall revenue. Bansal said the company would launch an outdoor and print ad campaign in the next quarter to further strengthen its presence in the region.