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Myntra revenue shrunk by 80% to Rs 427 crore in FY18

As per the documents filed with RoC, Myntra Designs Pvt Ltd, the holding company of online fashion retailer, Myntra, reported a 80% decline in sales to Rs 427.74 crore in FY18 from Rs 2,038.10 crore in FY17. Mynta also cut its losses to Rs 151.20 crore in FY18 from Rs 627.70 crore in the year ago period. Flipkart-owned Myntra is counting on its three-year-old private label[1] business for higher margins. It is also planning to expand its offline presence from 12 stores to 200 in the next two years, according to a Mint report.

Original Clues by NC News date : 9 Jan 2019, Wednesday

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