Myntra has turned online fashion shopping into a business that goes far beyond selling clothes. Customers use the platform to discover fashion trends, compare brands, purchase beauty products, follow creators and receive selected orders through faster delivery services.
Most products displayed on Myntra belong to independent brands and sellers. Myntra provides the digital marketplace, customer traffic, payment collection, technology, advertising tools and fulfilment support required to complete the transaction.
The company mainly earns through three major sources: logistics services, marketplace services and advertising. Private brands, creator-led shopping, fast delivery and international expansion support the wider business.
Myntra Company Quick Overview
| Particular | Details |
| Brand | Myntra |
| Founded | 2007 |
| Founders | Mukesh Bansal, Ashutosh Lawania and Vineet Saxena |
| Headquarters | Bengaluru, Karnataka |
| Owner | Flipkart Group |
| Ultimate parent | Walmart |
| Current business head | Sharon Pais |
| Business type | Online fashion, beauty and lifestyle marketplace |
| Main categories | Clothing, footwear, beauty, accessories, jewellery and home products |
| FY25 operating revenue | ₹6,042.7 crore |
| FY25 net profit | ₹548.3 crore |
Myntra began as a personalised-gifting business before moving into online fashion. Flipkart acquired the company in 2014, and Walmart later acquired a controlling interest in Flipkart. Myntra’s website currently identifies it as a Flipkart company.
Sharon Pais was appointed to lead Myntra in April 2026 after Nandita Sinha stepped down. The latest complete publicly reported financial figures available are for FY25, when operating revenue increased by 18% and net profit rose to ₹548.3 crore.
What Is Myntra’s Business Model?
Myntra mainly follows an online marketplace model. Fashion brands, distributors and other approved sellers list products on the platform. Customers browse these listings and place orders through Myntra’s app or website.
Myntra manages product discovery, recommendations, payments, customer support and selected fulfilment services. It then transfers the seller’s settlement after deducting the applicable marketplace, logistics, advertising and other agreed charges.
The platform benefits from a network effect. More brands create greater choice for shoppers, while a larger customer base makes Myntra more valuable to brands and sellers.
How Does Myntra Make Money?
1. Logistics and Fulfilment Services
Logistics was Myntra’s largest reported revenue source in FY25. The company earned ₹2,918.9 crore from logistics services, representing approximately 48.3% of its operating revenue.
Myntra helps sellers with services such as:
- Product storage
- Order processing
- Packaging
- Shipping
- Last-mile delivery
- Return pickup
- Inventory movement
Sellers pay Myntra according to the services used and their commercial agreements. Myntra then pays warehouses, delivery providers and other fulfilment partners.
The company’s earnings depend on the difference between the amount collected for fulfilment and the actual cost of completing deliveries and returns.
2. Marketplace Services and Seller Fees
Marketplace services contributed ₹2,051.8 crore in FY25, or around 34% of operating revenue. This income grew by approximately 15.6% from the previous year.
Brands and sellers may pay Myntra for access to its marketplace, technology, customer base and transaction-management services. The exact charges can differ according to the product category, seller arrangement and promotional programme.
Myntra sometimes reduces or temporarily removes commissions to attract sellers in selected categories. For example, it introduced a limited zero-commission programme for certain women’s ethnic-wear brands in 2025.
Such programmes may reduce immediate commission income but can expand product selection, attract new customers and create more logistics and advertising revenue.
3. Advertising and Sponsored Visibility
Brands pay Myntra to promote their products within the app and website. Advertising income reached ₹914.5 crore in FY25, increasing by more than 28% from the previous year.
Paid promotional options may include:
- Sponsored product placements
- Homepage banners
- Search-result promotions
- Brand pages
- Sale-event campaigns
- Personalised advertisements
- Push notifications
Advertising can provide attractive margins because Myntra already has the customer traffic and digital space. Brands benefit because their advertisements reach people who are actively shopping for fashion and beauty products.
4. House and Exclusive Brands
Myntra carries popular fashion labels associated with its platform, including Roadster, Mast & Harbour, Anouk, DressBerry and several other exclusive collections. These brands are prominently available alongside outside labels on the marketplace.
Depending on the ownership and commercial structure, Myntra can earn through marketplace services, product distribution, licensing or royalty arrangements.
Exclusive labels also help differentiate Myntra from competing marketplaces. A shopper who wants a particular Myntra-exclusive collection may need to purchase it through Myntra rather than compare the identical product across several platforms.
Myntra reported ₹94.3 crore in non-operating income during FY25, with royalty income forming an important part of this amount.
5. Creator-Led and Social Commerce
Myntra works with influencers and content creators who produce fashion videos, styling ideas, product reviews and shopping recommendations.
Creators help customers understand how an outfit looks, how products can be combined and which trends are becoming popular. Myntra benefits when this content leads to completed orders.
By November 2025, Myntra said creator-led content was contributing approximately 10% of its overall revenue, supported by a network of about 3.5 million creators. This is not necessarily reported as a separate accounting category because the resulting income may still appear under marketplace, logistics or advertising services.
6. Fast Fashion Delivery Through M-Now
M-Now is Myntra’s faster-delivery service for eligible fashion, beauty and lifestyle products. It is designed for customers who need an outfit, accessory or beauty item without waiting for normal e-commerce delivery.
M-Now can support Myntra’s revenue by increasing order frequency and helping the company compete with quick-commerce platforms. The transactions can generate marketplace, logistics and advertising income through the same basic channels as ordinary Myntra orders. Myntra continues to identify M-Now as one of its main shopping experiences.
However, rapid delivery also costs more because products must be stored close to customers and delivered within shorter time limits.
7. Myntra Global
Myntra has expanded beyond India through Myntra Global. Its initial international service focused on Singapore, offering Indian fashion, ethnic wear and home products to customers abroad.
International sales provide access to overseas Indians and customers interested in Indian brands. Myntra can earn through marketplace and fulfilment services while participating sellers gain access to another market.
International operations also create costs involving cross-border delivery, customs, returns, currency conversion and local customer support.
Myntra’s Major Operating Costs
Fashion e-commerce has high fulfilment and return costs. Customers may return products because of size, fit, colour, quality or personal preference.
Myntra’s major expenses include:
- Delivery and reverse logistics
- Warehouses and packaging
- Advertising and promotional discounts
- Employee salaries
- Technology and data infrastructure
- Payment-processing charges
- Customer support
- Creator and campaign expenses
- Fraud prevention and product verification
In FY25, Myntra’s total expenses reached ₹5,723.7 crore. Advertising and promotional spending was approximately ₹2,105.3 crore, logistics expenses were around ₹1,999 crore and employee-benefit costs were ₹748.8 crore.
Why Myntra’s Model Can Be Profitable
Myntra does not need to manufacture or own every item sold through its marketplace. This reduces inventory exposure compared with a fully inventory-led fashion retailer.
Logistics income allows the company to earn from fulfilling orders, while marketplace charges generate revenue from completed transactions. Advertising creates another income stream from the same customer traffic.
Profitability improves when Myntra processes more orders, attracts repeat customers, increases advertising income and controls delivery and promotional costs.
In FY25, operating revenue grew faster than total expenses, helping the company report a substantial increase in profit. The reported profit also benefited from tax-related accounting effects, including a deferred-tax credit.
Main Challenges in Myntra’s Business Model
Returns are one of the biggest challenges. Every returned product may require pickup, inspection, repacking and another delivery attempt.
Myntra also competes with Ajio, Amazon, Flipkart, Nykaa Fashion, Meesho, brand-owned websites and offline fashion retailers. Heavy discounts may attract shoppers but reduce the amount earned from each order.
Product authenticity, inaccurate sizing and misleading seller information can damage customer confidence. Myntra must review sellers while maintaining a large product selection.
Marketplace structures must also comply with India’s foreign-investment rules. In July 2025, India’s Enforcement Directorate announced an investigation into alleged violations involving Myntra’s earlier wholesale and marketplace arrangements. The allegations were part of an investigation rather than a final finding.
FAQs
Q1. Does Myntra own every product sold on its platform?
No. Many products belong to independent brands and sellers. Product pages normally identify the seller responsible for supplying the item.
Q2. Why can the same brand have different discounts on Myntra?
Discounts may depend on the seller, inventory level, sale event, product age, bank offer and commercial agreement with the brand.
Q3. Does Myntra earn the complete price paid by a customer?
Not necessarily. A large part of the payment may belong to the seller. Myntra recognises income from the marketplace, logistics, advertising and other services it provides.
Q4. Does Myntra make money from returned products?
Returns generally create expenses rather than profit. Myntra may still collect applicable seller-service charges, but it must also pay for pickup, inspection, customer support and product processing.
Q5. Is Myntra’s revenue included in Flipkart’s revenue?
Myntra is part of the Flipkart Group, but it prepares financial statements for its own operating entities. The ₹6,042.7 crore figure refers to Myntra’s FY25 operating revenue, not the complete revenue of Flipkart or Walmart.
Conclusion
Myntra makes money mainly through logistics, marketplace services and advertising. In FY25, these three sources contributed almost all of its operating revenue.
Exclusive brands, creator-led shopping, M-Now and international expansion support additional transactions but generally feed into the same core revenue streams.
Its long-term success depends on attracting brands, retaining shoppers and controlling fulfilment costs. Myntra must also reduce returns and maintain trust while competing in a fashion market where prices, trends and customer preferences change quickly.
