Online fashion retailer Myntra is planning to open its first brick-and-mortar store in the next three months. This is being planned by putting its omni-channel strategy into place.
The store may be opened in either Bangalore or Delhi and the company is exploring the possibility of tying up with brands to use their stores for services such as returns. The company is planning to launch omni-channel with its private brands such as Roadster, HRX and All About You.
“The company is targeting strong growth in new segments such as home furnishings. Already, it is one per cent of the revenue and it’s growing at 50 to 60 per cent month-over-month. So, the company is looking at getting about five per cent of its revenue from home furnishings,” Ananth Narayanan, CEO of Myntra said.
Myntra is already looking into profitability and reducing discounts. The company recently switched back to its desktop avatar after it had moved to mobile-only app last year. This was done to bring back its customers and drive growth.
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