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The growth of fashion in ecommerce is so large that Myntra claims it will be the first of the country’s online marketplaces to become profitable. Claiming an annual growth rate of 80 percent and with a run rate of $1 billion in revenue, Myntra aims to break-even by the end of this fiscal year and is targeting a $2-billion run rate by 2018. There is space for multiple players in different categories. Pre-owned luxury goods platform Zapyle has grown 1,000 percent since launching a year ago. Online fashion brand FabAlley has witnessed 65–70 percent growth in 2016 and is expecting 80–100 percent growth in 2017–18. Amazon Fashion has witnessed 100 percent annual growth rate. New startups with multiple business models are coming up in the space, Seenit, Adoro, Shopo, Pretr, Liberent, and Flyrobe among them. Corporate giants like Future Group, Reliance Industries, and Tata Sons have also entered the online fashion space with ABOF, Ajio, and Tata CLiQ, respectively. However, online retail is still less than 2 percent of total retail in India. More than half of e-commerce is made up by mobile phones and consumer electronics.
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