Getting 50 Million Indians To Look Good By 2020
Myntra’s vision is to be the largest fashion and lifestyle destination, helping 50 million Indians ‘Look Good’ by 2020, says Gunjan Soni, CMO and Head of International Brands, Myntra. Responding to queries after accepting the award for being India’s Most Admired & Valuable Power Brand Award 2016, Gunjan says Myntra is committed to be the most reliable partner to fashion loving Indians.
Excerpts from the interview:
Q: What are the unique differentiators of Myntra that would merit its consideration for an award in this category?
A: Myntra has been focused on building a brand that clearly differentiates it from the rest. The brand’s key differentiator is being the largest and leading fashion etailer in India, offering consumers a curated collection of over 2.3L products from the best of fashionable brands.
Another key differentiator is Myntra’s innovative and disruptive technology. As fashion is a very personal experience, Myntra constantly works towards transforming fashion shopping into a personalized experience and connecting fashion lovers with influencers, brands, celebrities and people of similar taste. The company has been at the forefront of technology application and innovation and will continue to invest heavily in this aspect.
Last but not the least, Myntra’s culture has been the driving force behind company’s phenomenal growth and success. A company’s culture can have a powerful impact on its performance. Myntra provides employees opportunities to experiment and innovate, world-class infrastructure and engagement initiatives, and work-life balance – creating one of the best workplaces for work and fun. It’s the company’s culture that binds employees together and is the hardest thing for others to copy.
Q: What is Myntra’s vision and where does it want to see itself in the year 2016?
A: Myntra’s vision is to be the largest fashion and lifestyle destination, helping 50 million Indians ‘Look Good’ by 2020. The company aims to achieve its vision by offering customers with best of fashion and lifestyle from Indian and international brands, the best-in-industry customer service and by building a community for consumers to engage with on daily fashion choices and moments.
Myntra has a lot of aspirations for this year. We want to have 20 million engaged users on the Myntra platforms. Myntra already has a very high Top of Mind recall with the consumer in online fashion segment – 90% for unaided recall of brand – and we will continue to work on this.
We are also going to cross the target of GMV (Gross Merchandise Value) run rate of USD 1 billion and is on track to be profitable in next 18 months.