Myntra plans to sell personal care products in India

India’s Flipkart-owned online fashion store Myntra has unveiled plans to move into the personal care segment.

It also aims to go into home furnishing, and precious and non-precious jewellery categories.

Myntra CEO Ananth Narayanan was quoted by Economic Times as saying: "This is a big bet for us to take our first step to expansion in the lifestyle segment, which will also help us meet our set target of attaining profitability by 2017.

"In all these categories, we will be looking at mass premium segment where the margins are high, so it works for unit-economics."

As part of the development, the company has entered an agreement with 40 brands, reported the publication.

It plans to sell beauty products such as body lotions, creams, lipstick, face packs, and eye liners.

The company is reportedly expecting revenues of Rs5bn ($66m) from the new segments in the next two years.

Driven by fast growing internet-connected population and improvement in infrastructure such as payment and delivery systems, the Indian e-commerce business has been predicted to reach $50bn-$70bn by 2020.

Meanwhile Flipkart aims to be a $20bn company by 2020.