Fashion etailer Myntra has high hopes for upcoming End of Reason sale. The company is expecting 20x sales jump during the fashion sale scheduled for 2nd and 3rd of July. The revenue will also double compared to January Republic Day event, believes Myntra.
Myntra’s CEO Ananth Narayanan expressed his optimism by saying, “We are geared up for our End of Reason sale (EORS). We have invested strongly in strengthening our platform and in ensuring that logistics remains smooth. We anticipate about 10 million people will shop on Myntra in the two days of this sale, which is the fourth edition of EORS.”
With approximately 2,000 Indian, international and in-house brands and up to 80% discount for buyers, Myntra has kick-started aggressive marketing campaign to grab online shoppers’ attention.
Key message of this campaign is “Tayyar Ho Jao” (get ready), through which the fashion etailer is asking customers to get ready for the biggest fashion sale. Actor Hrithik Roshan too features in Myntra’s EORS TV ad.
“The upcoming edition of EORS is the country’s biggest online fashion sale event to date and we are confident of providing a delightful, memorable sale experience to all customers. Hence, we are reaching out to all our existing and new customers, to help them get ready to enjoy and get the best out of the sale event. Opportunities like this come rarely. Toh India, Tayyar Ho Jao!,” added Gunjan Soni, Myntra’s CMO.
Online sale always attracts offline retailers’ ire. So we won’t be surprised if any retailers’ body raises concern over Myntra’s EORS. When asked about the same, Narayanan clarified, “Traditional retailers also have sales which usually lasts over weeks. We are offering a similar sale, just that it is for 2 days. Most of these discounts are coming from the brands themselves.”
Myntra is in good spirits not only because of the impending fashion sale. The firm is also happy due to the recent tie-up with luxury jewellery and accessories brand Swarovski. This is an exclusive partnership and the luxury brand’s first foray into online retail.
While speaking about this deal, Sukanya Dutta Roy, Swarovski’s Managing Director said, “In today’s cash rich & time deficit digital age, we believe that the option of online shopping formats give the freedom of convenience to the Swarovski consumers. In Myntra, we have found a like-minded partner to achieve this. While we present the product bouquet, Myntra’s operations and logistics know-how will help Swarovski deliver higher consumer value.”
Last month, the Flipkart-acquired company had collaborated with Tata Group’s jewellery brand Tanishq. In order to touch profitability by 2017, Myntra has taken various steps such as revive desktop site, launch try-on-delivery service and increase premium offerings.
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