Myntra Fashion Brands' Business Turn EBITDA Positive at 100% Plus CAGR
With a portfolio of 13 brands, MFB is expected to deliver over $300 million this year, with over 100 per cent CAGR
Photo Credit :
Indian e-commerce company Myntra Fashion Brands (MFB), which delivers about 23 per cent of Myntra business, has turned EBITDA positive in the last two consecutive months.
This performance puts MFB on a path of double digit earnings before interest, tax, depreciation and amortization (EBITDA) profitability at scale in the next 18-24 months, informed the fashion company in an official statement.
With a portfolio of 13 brands, MFB is expected to deliver over $300 million this year, with over 100 per cent CAGR.
Ananth Narayanan, CEO, Myntra and Jabong, said, "Our Private Brands have performed exceptionally well. Our approach of building own brands makes us unique. MFB is a key pillar of Myntra's strategy to building differential offering, cementing shopper's loyalty and increasing profitability. Myntra Fashion Brands today occupy 9 of the top 20 brands on the platform."
Myntra has built its business on the strength of four key pillars - Leveraging Technology, Range and Quality, Speed, and Identification of unique white spaces and addressing the needs of the Millennials and Gen Z, added the company.
Manohar Kamath, Chief of Myntra Fashion Brands, further added, "Our vision is to build Myntra Fashion Brands into the largest fashion house in the country in the next 5 years and be the supplier of private brands to the world. We at Myntra, do things differently. Our customer-first approach and technology is at the heart of everything we do.”
“We are investing in building brand equities, innovating wisely, using consumer/business insights intelligently, building strong vendor relationships, using smart pricing (AI-based tech lead pricing), knowing the shape of our brand price elasticity curve and managing each category differently with tech-led innovation plus visual merchandising."