In India’s ecommerce market many startups have gone belly up over the last two years. Even Flipkart, the poster boy of Indian ecommerce, is being questioned these days. Amidst all this, one company that stands out is fashion retailer Myntra.
The retailer has plans to become profitable by 2018 and is on its way to cross a gross merchandise value of $1.7 billion next year, it’s chief executive officer Ananth Narayanan told FactorDaily in this interview.
“With scale, we will become profitable and it’s a certainty. It’s not 10 years away, I think it’s a year away at best,” says Narayanan, a former McKinsey consultant, who has been at the helm of Myntra since it’s founder Mukesh Bansal sold the company to Flipkart.
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Disclosure: FactorDaily is owned by SourceCode Media, which counts Accel Partners, Blume Ventures and Vijay Shekhar Sharma among its investors. Accel Partners is an early investor in Flipkart. Vijay Shekhar Sharma is the founder of Paytm. None of FactorDaily’s investors have any influence on its reporting about India’s technology and startup ecosystem.