09 December 2022, Mumbai
Sundar Balasubramanian is CMO at Myntra.
With over 18 years of experience, Balasubramanian specialises in driving growth agenda, marketing and brand strategy, P&L delivery, new category development, digital marketing, innovation strategy and team management and leadership, and he has also worked across categories.
Myntra’s operating revenue surged 45 per cent in fiscal year 2022. Marketplace and logistics services were the major source of revenue for Myntra, contributing around 46 per cent and 42 per cent of the operating revenue, which surged 18 per cent and 91 per cent respectively. Income from advertisement services grew 77 per cent. When it comes to expenditure, logistics turned out to be the biggest cost center for the company contributing nearly 40 per cent to the annual expenditure. This cost surged 57 per cent. Advertising and promotional expenses were the other major expenses during the last fiscal year which accounted for around 31 per cent of total cost and soared 69 per cent in fiscal year 2022.Employee benefit and outsourced manpower expenses increased 12 per cent and 37 per cent respectively. The company also incurred payment gateway charges and after sales services (customer support services) which surged by 53 per cent and 32 per cent during the last fiscal year. Myntra’s total expenditure also grew 45 per cent.
