Myntra to shut down two offices in Gurugram, shift staff

Myntra is shutting down two of its offices in Gurugram and is looking forward to shifting 200 or so employees to the premises of Jabong.com, the fashion ecommerce company it acquired in July for $70 million, in the same city.

According to Myntra’s chief executive Ananth Narayanan Staff, working mostly on building international brands and cataloguing will move to an empty floor in Jabong's Sector 18 building.

The offices that are being shut down are located on MG Road at Iffco Chowk and at Udyog Vihar. The Sector 18 building is also home to food-order startup Foodpanda.

"It makes great economic sense to come here, instead of having three different offices operating,” Rahul Taneja, chief business officer at Jabong, told ET.

The management is trying to get both Myntra and Jabong to profitability at the EBITDA (earnings before interest, tax, depreciation and amortisation) l evel by December 2017, Narayanan has said.

"We are going to push for both and we are going to look for (ebitda profitability) together,” he told ET, adding that Jabong is expected to grow 30-50% in the financial year ending March 2018.