Fashion e-commerce major Myntra is investing in growing personal care segment to cater to the masstige section and expects it to contribute 7-8 per cent of its revenues in the next two years.
“Personal care is an important category and we are investing in it. The purchases are more frequent and we have seen a strong growth in the category with brands like Estee Lauder,” Ananth Narayanan, CEO, Myntra told PTI.
According to a PTI report: He added that while the segment is small, it is growing and should contribute 7-8 per cent of the company’s revenues in two years.
The Flipkart Group company aims to clock total revenue rate of US $2 billion by March 2018.
Asked about the product portfolio, Narayanan said the company would look at playing in what is popularly referred to as the “masstige” segment.
“We will look at more mass-premium or masstige products like a Mac or Bobbi Brown. We also hope to bring in more international brands to India,” he was quoted by PTI as saying.
Narayanan said with over 30 million monthly users coming to Myntra and Jabong platform, and it is well positioned to tap into the category.