The top fashion e-commerce site in India, Myntra, has received a new investment of ₹1,062.5 crore ($125 million) from its parent company, FK Myntra Holdings, based in Singapore. Following the company’s surprising return to profitability in FY24, this strategic capital raise takes place at a time when quick-commerce technologies and growing global aspirations are rapidly changing the fashion retail market.
In this article, we’ll delve into Myntra’s recent ₹1,062.5 crore funding round, explore its surprising return to profitability, examine its quick-commerce strategy, and understand how it’s positioning itself amid rising competition and international expansion plans.
Credits: Yourstory
Fresh Capital, Fresh Momentum
In order to secure the funds, Myntra’s board has issued 19,43,753 equity shares at ₹5,466 each through a rights issue, per a regulatory filing with the Registrar of Companies. This is a crucial sign of confidence from Flipkart, a Walmart-backed company that invested $81 million in FK Myntra Holdings earlier this year in February.
As the platform aims for quicker delivery and global expansion, the infusion is anticipated to strengthen Myntra’s operational capabilities, tech investments, and supply chain agility.
A Turnaround Story: From Loss to Profit
In the Flipkart-Walmart portfolio, Myntra was once thought to be a losing business, but it has now had a significant financial turnaround. Following an astounding ₹782.4 crore loss in FY23, the platform reported a profit of ₹30.9 crore in FY24. Additionally, its operating revenue increased by 15% to ₹5,122 crore.
This profitability milestone confirms the platform’s strategic shift towards premiumization, personalization, and high-margin categories like accessories and beauty, in addition to reflecting better cost controls and operational savings.
Going Global: Myntra Eyes the Indian Diaspora
Myntra formally launched Myntra Global in Singapore earlier this month. By providing carefully chosen Indian design options that satisfy ethnic interests and preferences, the program aims to reach the sizable Indian diaspora in Southeast Asia. This action shows that Myntra is prepared to venture abroad after solidifying its position as the industry leader at home.
Global expansion aligns well with Walmart’s broader e-commerce vision and could become a gateway for future rollouts in regions with strong Indian-origin populations like the Middle East, UK, and US.
Fast Fashion Gets Faster: M-Now and Quick Commerce
In a market where consumers expect everything—from groceries to gadgets—in minutes, fashion too is catching up. Myntra has responded with M-Now, a 30-minute delivery service launched in November 2023 for selected assortments in limited pin codes.
This move reflects a strategic alignment with the growing quick-commerce segment, which is now seeing traction from newer players like Slikk, a fashion-first quick commerce startup promising 60-minute deliveries. Myntra’s early investments in this space give it a head start as delivery speed becomes a key differentiator in fashion retail.
The Bigger Battlefield: Competition Heats Up
Myntra isn’t alone in chasing the quick-commerce dream. Players like Zepto and Blinkit, originally focused on grocery delivery, have begun exploring adjacent verticals like beauty and lifestyle. At the same time, the re-entry of global fashion behemoth Shein—in partnership with Reliance Retail—is set to challenge incumbents with aggressive pricing and trend-forward inventory.
To stay ahead, Myntra will need to continually sharpen its tech stack, deepen its brand portfolio, and optimize its supply chain—areas where this $125 million capital boost can make an immediate impact.
Credits: Inc 42
Conclusion: Positioned for the Next Phase
From battling steep losses to clocking profit and now raising fresh funds, Myntra’s journey reflects resilience and reinvention. As fashion e-commerce evolves from a convenience-driven model to one centered on speed, personalization, and cross-border appeal, Myntra seems well-positioned to lead the charge.
With deep-pocketed backing, a focus on quick-commerce, and a toe dipped in global waters, Myntra is not just back in the game—it’s rewriting the rules.
