The online fashion retailing industry in India is growing, and the fact can be attributed to the country's large population on the Internet. The e-commerce market in India is the fastest in Asia Pacific region with CAGR (Compounded Annual Growth Rate) of over 57% between 2012-2016 - worth USD 2.5 billion in 2009, which went up to USD 6.3 billion in 2011, and to USD 14 billion in 2012 - and within the online retail industry, the online fashion segment is growing fast, according to Forrester Research. Bangalore-headquartered Myntra. com is one of the leading fashion and lifestyle products e-tailing platform in India. Over the last few years, the business at Myntra has scaled rapidly due to the ever-increasing popularity of online shopping, increased Internet reach in the country and quality of service that Myntra been consistently providing to its customers. According to a recent study, India ranks second in consumers accessing the internet for online shopping through mobile devices, just after China.
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