e-Commerce fashion retail business, Myntra, is expected to shut down its website in favor of moving all operations to its mobile app, according to some reports.
Myntra was acquired by Flipkart last year for a sum of INR 2,000 crores.
Myntra pulls in about 80 percent of its traffic and 60 percent of sales through its mobile application, according to reports.
The company has plans to take the sales number to 90 percent by the end of the year. When that happens, the fashion e-tailer will likely shut down its websites, according to sources familiar with the matter.
Myntra is on course to complete INR 2,000 crore in sales or gross merchandise value (GMV) for the current financial year. GMV refers to the overall revenue generated by online retailers through sale of goods on the online platforms. Out of the total GMV, Myntra makes around 5 to 20 percent depending on the category.
Myntra/Flipkart's biggest rivals remain Snapdeal and Amazon in the fashion category. Recently, Amazon started the fashion category in India, whereas Snapdeal is on course for a 1 billion dollar in sales under the fashion category.
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