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Myntra witnessed an 80% drop in revenue

Flipkart-owned Myntra Designs witnessed an 80% drop in revenue to $60.6 Mn (INR 427 Cr) for the year ended March 2018. Myntra’s top seller, Vector E-commerce, had also recorded a recorded a 90% fall in revenue to $11.5 Mn (INR 81 Cr) for the year ended March 2018. Following the exit of both the Flipkart founders Sachin Bansal and Binny Bansal, Flipkart India itself had recorded a total loss of $293.05 Mn (INR 2,063.8 Cr) in FY18, which is a 700% increase as compared to $34.79 Mn (INR 245.04 Cr) in FY17.

Read More at INC42 News date : 9 Jan 2019, Wednesday

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