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Myntra’s Annual Budged Hiked by 25%
May 12, 2017
To strengthen its position as the country’s largest online fashion retailer, Flipkart has increased the annual budget of Myntra by 25%. This is amid a surprising turn of events, as earlier this year Flipkart had the intentions to cut the annual outlay of its child company Myntra.
The information regarding the budget was given by company’s CEO Ananth Narayan. He said they could use the money for upgrading its existing technology and investing in a few new ethnic brands that could help achieve profitability by March 2018 and be on par with Jabong, its former rival.
