Myntra

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Myntra
Company typePrivate
IndustryE-commerce
Founded2007; 18 years ago (2007)
FounderMukesh Bansal, Ashutosh Lawania, Vineet Saxena
HeadquartersBengaluru, Karnataka, India
Key people
Nandita Sinha (CEO), Abhishek Gupta (CFO), Sunder Balasubramanian (CMO)
ProductsClothing, footwear, accessories, beauty products, home and living products
Revenue₹ 5,122 crore (FY 2024)
₹ 31 crore (FY 2024)
Number of employees
~3,000 (2025)
ParentFlipkart
Websitewww.myntra.com

Myntra is a leading Indian e-commerce platform specializing in fashion and lifestyle products. Founded in 2007 by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena, it initially focused on personalized gift items before pivoting to fashion retail in 2011. Acquired by Flipkart in 2014, Myntra operates as a standalone brand under its parent company, offering over 750,000 styles from more than 5,000 brands. The platform serves a diverse customer base, including fashion-conscious urban youth and consumers in Tier 2 and Tier 3 cities. Myntra leverages advanced technology, including AI-driven recommendations and virtual try-on features, to enhance user experience. Its marketplace model, private labels, and quick commerce initiatives like M-Now have solidified its position in India's competitive e-commerce landscape.[1][2]

Founders & Leadership

  • Mukesh Bansal: Co-founder and former CEO, Bansal is an IIT Kanpur alumnus with a degree in computer science. He worked at Amazon before founding Myntra. He led the company’s pivot to fashion e-commerce and its acquisition by Flipkart in 2014. Bansal later founded health-tech startup Curefit.[3]
  • Ashutosh Lawania: Co-founder and former head of sales and marketing, Lawania is also an IIT Kanpur graduate. He founded Bytedge Solutions before Myntra and later co-founded health-tech startup mfine after leaving Myntra in 2017.[4]
  • Vineet Saxena: Co-founder, Saxena contributed to Myntra’s early technical development. Post-Myntra, he co-founded e-commerce ventures VioletBag and IndusDiva, and is currently a co-founder at CARD91.[5]
  • Nandita Sinha: CEO since 2021, Sinha has over 16 years of experience in e-commerce and FMCG. She previously served as Flipkart’s Vice President of Consumer Growth and Marketing.[6]
  • Abhishek Gupta: CFO, Gupta oversees Myntra’s financial operations with over 16 years of experience in e-commerce and FMCG.[7]
  • Sunder Balasubramanian: CMO, Balasubramanian leads marketing with experience from Coupang and Disney+ Hotstar.[8]

Timeline

Year Milestone
2007 Myntra founded by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena, focusing on personalized gift items.[9]
2008 Raised $5 million in initial funding from Accel Partners, Mumbai Angels, and others.[10]
2011 Pivoted to fashion and lifestyle e-commerce, moving away from personalization.[11]
2014 Acquired by Flipkart for $300 million.[12]
2015 Attempted app-only model, later revived website in 2016.[13]
2016 Acquired Jabong for $70 million.[14]
2018 Acquired Witworks and Pretr to enhance wearable and retail tech capabilities.[15]
2021 Nandita Sinha appointed CEO.[16]
2022 Launched M-Express delivery service for 24–48 hour deliveries.[17]
2024 Turned profitable with ₹5,122 crore revenue and ₹31 crore profit.[18]
2025 Expanded globally with Myntra Global, launching in Singapore.[19]

Funding

Date Round Amount Investors
October 2007 Seed $5 million Accel Partners, Mumbai Angels, Sasha Mirchandani[20]
November 2008 Series A $5 million NEA-IndoUS Ventures, IDG Ventures, Accel Partners[21]
2011 Series B $14 million Tiger Global, IDG Ventures, Indo-US Venture Partners[22]
2011 Series C $20 million Tiger Global[23]
February 2014 Series D $50 million Premji Invest, others[24]
January 2014 Series E $50 million Premji Invest, Tiger Global, Accel, Chiratae Ventures, others[25]
October 2020 Corporate $103 million FK Myntra Holdings, Flipkart[26]

Business Model

Myntra operates a marketplace model, connecting third-party vendors with consumers and earning commissions on sales. It also generates revenue through private label brands like Roadster, DressBerry, and HRX, which offer higher profit margins. Additional income streams include advertising fees from brands for prime visibility, logistics services, and consultancy for optimizing brand presence. Myntra targets fashion-conscious consumers aged 18–34, particularly urban youth and those in Tier 2 and Tier 3 cities, with a focus on affordability and trend-driven products. Its loyalty program, Myntra Insider, encourages repeat purchases, while AI-driven personalization enhances customer retention.[27][28]

Products / Services

  • Clothing: Offers apparel for men, women, and children from over 5,000 brands, including Nike, H&M, and Biba.[29]
  • Footwear and Accessories: Includes branded shoes, bags, jewellery, and watches.[30]
  • Beauty and Personal Care: Features cosmetics and grooming products from international and local brands.[31]
  • Home and Living: Provides home decor, furnishings, and accessories.[32]
  • M-Express and M-Now: Express delivery (24–48 hours) and quick commerce (30-minute delivery in select cities) services.[33]
  • Style Studio: A virtual dressing room for interactive shopping.[34]

Growth & Metrics

Myntra reported a revenue of ₹5,122 crore and a profit of ₹31 crore in FY 2024, a significant turnaround from a ₹782 crore loss in FY 2023.[35] It has over 50 million active users and delivers more than 100,000 orders daily.[36] The platform’s End of Reason Sale (EORS) in 2023 attracted 20 million users.[37] Myntra employs approximately 3,000 people and has expanded its reach to over 9,000 pincodes in India.[38] In 2025, Myntra launched Myntra Global, targeting the Indian diaspora in Singapore.[39]

Legal Entity Information

Field Details
Legal Name Myntra Designs Private Limited
Foundation Date 2007
Registrar of Companies (ROC) ROC Bangalore
Corporate Identification Number (CIN) U72300KA2007PTC041799
Registered Address 3rd Floor, AKR Tech Park, Krishna Reddy Industrial Area, Kudlu Gate, Bengaluru, Karnataka 560068, India
Company Status Active
Directors Nandita Sinha, Abhishek Gupta
Authorized Share Capital ₹1 crore
Paid-up Capital ₹0.61 crore

[40]

Acquisitions and Investments

Myntra has made nine acquisitions, including:

  • Jabong (July 2016, $70 million): Online fashion retailer.[41]
  • Native5 (April 2015): Mobile app development platform.[42]
  • Witworks (April 2018): Wearable device startup.[43]
  • Pretr (August 2018): Retail technology platform.[44]

Myntra has also invested in companies like Wrogn, AKS, and Zilingo ($226 million, Series D, 2019).[45]

FAQs

What is Myntra’s primary business focus?
Myntra focuses on fashion and lifestyle e-commerce, offering clothing, footwear, accessories, beauty, and home products.
Who owns Myntra?
Myntra is a subsidiary of Flipkart, which is majority-owned by Walmart.
What is Myntra Insider?
Myntra Insider is a loyalty program that encourages repeat purchases through rewards and exclusive offers.
What is Myntra’s M-Now service?
M-Now is a quick commerce service offering 30-minute deliveries for select fashion and beauty products in cities like Bengaluru.

External Links

Related Startups

References

  1. ↑ "Myntra Business Model". GrowthX. Retrieved 25 May 2025.
  2. ↑ "Myntra Company Profile". Crunchbase. Retrieved 25 May 2025.
  3. ↑ "The Story Of Myntra Founders: Mukesh Bansal". Startup Insider. Retrieved 25 May 2025.
  4. ↑ "Ashutosh Lawania". LinkedIn. Retrieved 25 May 2025.
  5. ↑ "Vineet Saxena". LinkedIn. Retrieved 25 May 2025.
  6. ↑ "About". Life at Myntra. Retrieved 25 May 2025.
  7. ↑ "About". Life at Myntra. Retrieved 25 May 2025.
  8. ↑ "About". Life at Myntra. Retrieved 25 May 2025.
  9. ↑ "Myntra Company Profile". YourStory. Retrieved 25 May 2025.
  10. ↑ "Myntra 2025 Company Profile". PitchBook. Retrieved 25 May 2025.
  11. ↑ "Myntra Business Model". StartupTalky. Retrieved 25 May 2025.
  12. ↑ "Flipkart Acquires Myntra for $300M". Business Standard. 22 May 2014. Retrieved 25 May 2025.
  13. ↑ "Myntra Subsidiaries And Acquisitions". StartupTalky. Retrieved 25 May 2025.
  14. ↑ "Myntra Acquires Jabong for $70M". The Economic Times. 26 July 2016. Retrieved 25 May 2025.
  15. ↑ "Myntra 2025 Company Profile". Tracxn. Retrieved 25 May 2025.
  16. ↑ "Nandita Sinha Appointed Myntra CEO". Business Standard. 13 November 2021. Retrieved 25 May 2025.
  17. ↑ "Myntra Launches M-Express Delivery". Fashion Network. 10 May 2022. Retrieved 25 May 2025.
  18. ↑ Harsh Upadhyay (8 December 2024). "Flipkart-owned Myntra turns profitable in FY24". X. Retrieved 25 May 2025.
  19. ↑ "Myntra Enters Global Markets". Inc42. 19 May 2025. Retrieved 25 May 2025.
  20. ↑ "Myntra 2025 Company Profile". PitchBook. Retrieved 25 May 2025.
  21. ↑ "Myntra 2025 Company Profile". PitchBook. Retrieved 25 May 2025.
  22. ↑ "Myntra 2025 Company Profile". PitchBook. Retrieved 25 May 2025.
  23. ↑ "Myntra 2025 Company Profile". PitchBook. Retrieved 25 May 2025.
  24. ↑ "Myntra 2025 Company Profile". PitchBook. Retrieved 25 May 2025.
  25. ↑ "Myntra 2025 Company Profile". Tracxn. Retrieved 25 May 2025.
  26. ↑ "Myntra Company Profile". YourStory. Retrieved 25 May 2025.
  27. ↑ "Myntra Business Model". The Business Scroll. Retrieved 25 May 2025.
  28. ↑ "Myntra Business Model". Vizologi. Retrieved 25 May 2025.
  29. ↑ "Myntra Business Model". StartupTalky. Retrieved 25 May 2025.
  30. ↑ "Myntra Company Profile". Craft. Retrieved 25 May 2025.
  31. ↑ "Popular international beauty brands available on Myntra's M-Now". Fashion Network. 15 April 2025. Retrieved 25 May 2025.
  32. ↑ "Myntra Home sees 60% YoY rise in demand". Business News This Week. 20 March 2025. Retrieved 25 May 2025.
  33. ↑ Ravi Sutanjani (5 December 2024). "Myntra Launched Fast Delivery Service". X. Retrieved 25 May 2025.
  34. ↑ "Myntra Company Profile". Craft. Retrieved 25 May 2025.
  35. ↑ Harsh Upadhyay (8 December 2024). "Flipkart-owned Myntra turns profitable in FY24". X. Retrieved 25 May 2025.
  36. ↑ Romaana Aamir (14 March 2023). "Myntra delivers more than 1 lakh orders per day". X. Retrieved 25 May 2025.
  37. ↑ "Myntra's EORS sees 20 million users". The Economic Times. 10 September 2023. Retrieved 25 May 2025.
  38. ↑ "Myntra 2025 Company Profile". PitchBook. Retrieved 25 May 2025.
  39. ↑ "Myntra Enters Global Markets". Inc42. 19 May 2025. Retrieved 25 May 2025.
  40. ↑ "Myntra – Profile overview". TheKredible. Retrieved 25 May 2025.
  41. ↑ "Myntra Acquires Jabong for $70M". The Economic Times. 26 July 2016. Retrieved 25 May 2025.
  42. ↑ "Myntra 2025 Company Profile". PitchBook. Retrieved 25 May 2025.
  43. ↑ "Myntra 2025 Company Profile". Tracxn. Retrieved 25 May 2025.
  44. ↑ "Myntra 2025 Company Profile". Tracxn. Retrieved 25 May 2025.
  45. ↑ "Myntra 2025 Company Profile". Tracxn. Retrieved 25 May 2025.
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