Myntra records 160% growth in revenues on End of Reason Sale
Bangalore, January 10, 2017: The 5th edition of Myntra’s End of Reason sale, a leading fashion sale event, held between 3rd and 5th January has concluded with record participation from 12.5 million users. Myntra registered a 160% growth in revenues with 2.1 million app installs.
On the success of EORS -5, Ananth Narayanan, CEO, Myntraand Jabong, said, “The End of Reason Sale has become an industry wide event with Jabong’s participation this time and has helped us accelerate our journey to achieve sustained growth at the very beginning of the year. We witnessed a peak of 8000 orders per minute during the first day of EORS and have received over 1.6 million orders during the 3 day sale. Post demonetization, with this sale we have seen a 900% growth in sales over a normal day.”
Men’s casual emerged as the most popular category with over 5.2 Lakh orders and a growth of 109% from the January 2016 edition of EORS. This was followed by Sports which grew by 94% with 3.9 Lakh orders and Women’s Ethnic wear which grew by 138% with 2.4 Lakh orders. International brands witnessed a growth of 2.7x in sales in comparison January 2016 edition of EORS.
The preview of the sale which gave VIP slots to 11 lakh customers resulted in 5 lakh items sold in just four hours. EORS-5 has also seen the largest ever engagement with Bollywood and sports celebrities with stars such as Salman Khan, Deepika Padukone, Hrithik Roshan, ViratKohli, Yuvraj Singh, R. Ashwin and P.V Sindhu promoting the sale.
Systematic planning on the logistics front allowed Myntra to deliver 1.5 Lakh shipments to customers before the end of the sale.