MYNTRA is among the few e-commerce players in the country which are profitable. In the 2023 festive season, it clocked a gross merchandise value growth rate that was twice that of the rest of the players in the online fashion market. The past 12 months have seen an over 50% rise in brands on the platform. Monthly active users rose from 45 million in 2021 to 60 million by the end of 2023.
The driving force behind this is Nandita Sinha. She has been part of Flipkart’s success story, going on to serve as vice president of Customer Growth, Media and Engagement, before being elevated to CEO. Sinha and her team are upping the ante with investments in newer segments. The past 12 months saw Myntra partner with premium beauty brands and establish itself in categories such as footwear, accessories and home. It also launched Myntra FWD, a platform for all things GenZ. “Be it marketing, tech, data science, fashion, finance, strategy, we’ve been able to make Myntra a powerhouse.”
Sinha now wants to achieve the more elusive feat of marrying profitability and high growth. — Akshat Mohan