Myntra to invest $300mn over 3 years in its fashion business
Flipkart subsidiaries, Myntra and Jabong, are reportedly planning to invest $300 million over the next three years to improve their market share. The subsidiaries expect to triple their gross merchandise value to $4 billion, compared to $1.2 billion in the fiscal year 2017-18. Also, Myntra reduced losses to $96.06 million in FY17, compared to $120.7 million in the previous year. 