Myntra vs Nykaa
Business model, scale, and a side-by-side Litmus framework score — which model wins, and for whom.
Myntra wins on scale and mass-market reach; Nykaa wins on beauty cross-sell and a more premium, profitable parent.
At a glance
| Metric | Myntra | Nykaa |
|---|---|---|
| Revenue | ₹6,042.7 Cr (operating, FY25) | ₹10,022 Cr (FY26) |
| Profit | Net profit ₹548.3 Cr (FY25) | ₹204 Cr (Net Profit, FY26) |
| Active users | ~200M annual active users (2025); ~80M peak MAU in festive season | 19.7M Annual Transacting (Beauty) |
| Employees | 5,000+ | 5,000+ |
| Founded | 2007 | 2012 |
| HQ | Bangalore, India | Mumbai, India |
LLitmus Framework Score
Overall: Myntra 83 · Nykaa 92
Customer Segment
91
95
Value Proposition
86
100
Marketing Channel
82
95
Engagement
84
92
Income Source
82
95
Asset Validation
82
90
Core Operations
78
90
Strategic Alliance
85
96
Expense Validation
76
88
Myntra leads 0 modules, Nykaa leads 9. Overall edge: Nykaa.
Head to head
| Dimension | Myntra | Nykaa |
|---|---|---|
| Positioning | Mass-market #1 fashion (~50% active share) | Premium-niche fashion off a beauty parent |
| Scale | ~$9.8B GMV, ~200M annual users | Fashion GMV +37% YoY (Q2 FY26), far smaller |
| Brands | 6,000+ brands + 20+ private labels | Curated, premium-skewed assortment |
| Profitability | Net profit ₹548.3 Cr (FY25) | Profitable parent (₹7,950 Cr FY25 revenue) |
| Edge | Discovery + EORS habit loop | Beauty-to-fashion cross-sell pipeline |
FAQ
Is Myntra or Nykaa a better business?
Myntra wins on scale and mass-market reach; Nykaa wins on beauty cross-sell and a more premium, profitable parent. It depends on what you optimise for — see the module-by-module breakdown above.
What is the difference between Myntra and Nykaa's business model?
Myntra operates in E-Commerce (Be extraordinary), while Nykaa is Ecommerce (Your Beauty, Our Passion). Their revenue, scale and Litmus scores are compared in detail above.
Which is more profitable, Myntra or Nykaa?
Myntra: Net profit ₹548.3 Cr (FY25). Nykaa: ₹204 Cr (Net Profit, FY26).