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Myntra CEO rules out a return of mobile site

When Myntra announced its plan to go app-only earlier in the year, many analysts were sceptical about the move.

Devika Singh        Last Updated: December 3, 2015  | 15:40 IST
Myntra claims it will achieve unit economic profitability by next year.

Recently there has been much speculation about the return of Myntra's mobile site, six months after it went app-only in May. Some reports have even indicated that the company's app-only strategy has been unsuccessful and has resulted in loss of traffic and sales.

But Ananth Narayanan, CEO of the company, rules out any such move. Some of Myntra's collections can be found online because of the new 'share' feature in their app for which they need web-pages, he points out.

"We are not introducing a mobile site. We have a new version of our app, in which you can share stuff and for that we need web pages. So that's why this mobile website has been constructed, to make things available for people to share on phones," Narayanan told Business Today.

The matter came to light, when some of Myntra's collection were seen online. For example, when you type in myntra.com/men or myntra.com/women-clothing on your phone's browser, it would lead to a page which shows a collection with price tags. However, typing Myntra.com still leads to a site which asks you to download the app. This was taken as a sign that its site was still in the pilot stage and would be active again.

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When Myntra announced its plan to go app-only earlier in the year, many analysts and experts were sceptical about the company's move and re-appearance of these pages led to the speculation that the move had backfired.

However, Narayanan denies that their sales have come down after shutting down the website. In fact, he says that the company is growing slightly faster than it did with the app and site combined.

"In October we registered a growth of 70 per cent year-on-year, in November it has gone over 70 per cent. Today, we have 7.6 million monthly active users and 15 million downloads and it has gone up quite dramatically," he says.

"Myntra is in a very good position right now, more than 80 per cent of our business is repeat business. All that has been reported so far is speculative but our numbers prove that we are doing quite well."

The company also says that it will achieve unit economic profitability by next year and overall profitability in 18 months from now and has many plans in the pipeline.

Myntra has tied up with Google to make its app searchable and also plans to systematically move away from discounts.

 

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