Myntra.com, the e-commerce site that sells fashion and lifestyle products, will tap the Indian Diaspora, particularly in the US. Using its portal exclusively.in, the e-commerce company will offer a host of ethnic brands.
“There is hardly any contribution from exports. We are going to tap this opportunity soon,” Sunjay Guleria, Vice-President (Marketing) of Myntra, said.
Mobile interface
Addressing a press conference here on Monday after launching the mobile interface for Myntra, he said the company was targeting a turnover of Rs 1,000 crore in 2013-14 as against Rs 450 crore last year.
The firm roped in film actress Genelia Deshmukh for the third edition of Star N Style, a feature on the Web site that gives a sneak preview of celebrity fashion.
He said the contribution from mobile e-commerce would significantly grow this year.
Virtual trial room
“We earned six per cent of our revenues last year from this avenue. We are expecting this to grow to 25 per cent by the end of the fiscal,” he said.
The company recently bought a US-based tech firm that offers consumers a preview of how a dress would look on them.
“It is like a virtual trial room, giving the consumers a feel of the product they are going to buy,” Sunjay said.
Quoting Google’s numbers, he said seven crore people visited e-commerce sites in India, with 70 of them registering a transaction. He, however, did not indicate the total value of such transactions.
“Keeping in view the huge growth in smartphones, we are expecting the total number of e-commerce site visitors to double this year,” he added.
The company, which raised $70 million from different investors, was not looking at raising fresh funds.