Myntra all set to start selling furniture, jewellery and personal care products

Online fashion marketplace Myntra, which was acquired by Flipkart in May 2014, is expanding business, and would now deal in home furnishing, precious and non-precious jewellery and personal care segments. The move has come with the motive of expanding the consumer base and increasing profits.

Until now, Myntra was restricted to apparel and accessories; however, with this step, it would be in direct competition with Urban Ladder, Pepperfry, Nykaa and Bluestone.

"This is a big bet for us to take our first step to expansion in the lifestyle segment, which will also help us meet our set target of attaining profitability by 2017," Ananth Narayanan, Myntra CEO told ET. He added that in the coming two years, the home furnishing segment us expected to generate revenues of Rs 500 crore.

For the home furnishing segment that would be launched soon, the company has entered into tie-ups with 40 brands. However, the personal care products space and jewellery segments wll be launched by July this year. To ensure that customers choose quality products, Myntra is hiring architects and interior designers.

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