New Delhi, Dec 17 (PTI) Fashion e-commerce major Myntrais investing in growing personal care segment to cater to the"masstige" section and expects it to contribute 7-8 per centof its revenues in the next two years.
"Personal care is an important category and we areinvesting in it. The purchases are more frequent and we haveseen a strong growth in the category with brands like EsteeLauder," Myntra CEO Ananth Narayanan told PTI.
He added that while the segment is small, it is growingand should contribute 7-8 per cent of the company's revenuesin two years.
The Flipkart Group company aims to clock total revenuerate of USD 2 billion by March 2018.
Asked about the product portfolio, Narayanan said thecompany would look at playing in what is popularly referred toas the "masstige" segment.
"We will look at more mass-premium or masstige productslike a Mac or Bobbi Brown. We also hope to bring in moreinternational brands to India," he said.
Narayanan said with over 30 million monthly users comingto Myntra and Jabong platform, and it is well positioned totap into the category.
The personal care segment includes niche players likeNykaa as well as those like Amazon and Flipkart. PTI SRBAL.
This is unedited, unformatted feed from the Press Trust of India wire.