The new investment comes as India’s long-time fashion e-commerce leader faces significant challenges from Reliance-owned Ajio and beauty leader Nykaa, which is increasingly expanding into fashion.
Flipkart-owned Myntra is also looking to expand its offerings in the beauty and personal care space, Myntra’s chief executive Nandita Sinha has said. Live commerce is another area of focus for Myntra, in order to attract more Gen-Z consumers.
The latest investment in Myntra was revealed by regulatory filings made by Flipkart in Singapore, where the company is legally incorporated.
Learn more:
How to Leverage Myntra to Expand in India
Partnering with the e-commerce giant is an increasingly popular way to tap the India opportunity but it comes with downsides like deep discounting.
