Online fashion retailer Myntra reported FY26 revenue from operations of ₹5,242.5 crore, with advertising income surging 35.2% to ₹1,236.4 crore from ₹914.5 crore in the previous year, according to the latest financial filings. Excluding logistics and shipping services, revenue grew 12% to ₹4,123.3 crore from ₹3,673.3 crore, driven by higher advertising and marketplace revenue. However, revenue from logistics and shipping services declined to ₹1,119.2 crore from ₹2,390.5 crore in FY25, contributing to total revenue falling below the FY25 level of ₹6,063.8 crore. The company reported a loss before tax of ₹441.9 crore in FY26, contrasting with a profit in FY25, as reported by PTI. On a consolidated basis, the Flipkart Group recorded revenue growth of 18% with total consolidated revenue of ₹1,45,880 crore against ₹1,23,451 crore in the previous year, while the group's total consolidated loss was ₹8,468 crore compared to ₹8,646 crore in FY25.
Online fashion retailer Myntra has achieved significant growth momentum in 2026, with its customer base expanding 30% in the current calendar year and order volumes growing more than 30% year-on-year since April 2026, according to Sharon Pais, head of Myntra. As reported by PTI, this represents the highest customer growth since the pandemic, with the platform expecting to reach 100 million monthly active users during the current festive season. Pais attributed this momentum to premium and diverse offerings, beauty investments, technology enhancements, and growing adoption among Gen Z consumers. The company has yet to see inflation weigh on demand, with Pais noting that "we have not seen that and we've seen good momentum so far."
Gen Z consumers account for around 52% of Myntra's customers and are central to the platform's strategy, up from about a quarter a few years ago, according to Pais as reported by ET. She noted that fashion spending is becoming essential for young consumers, with "Looksmaxxing is an essential part of their item. I don't think it is as discretionary anymore because it is the way they show up, the way they live their life socially." The average order value rose 10-12% during the festive period, while the increase for the year so far was around 7-8%, attributed to consumers upgrading to premium products and greater experimentation in beauty. According to Pais, "The K-shaped is playing out," referring to the divergence in spending patterns between consumer groups.
The company's flagship Big Fashion Festival, which began on October 8, recorded a four-fold rise in demand over business-as-usual levels in its first 24 hours, as reported by PTI. Tier-II and Tier-III cities contributed more than half of first-day orders, with Jaipur, Lucknow, Patna, Indore, Ludhiana, Surat, Dehradun, Bhubaneswar and Mysuru among the cities with high traction. Ahead of Durga Puja, Myntra reported demand from eastern India was 7X over business-as-usual, led by West Bengal, Assam and Bihar, with new customers from these regions growing 1.8X over BAU. Ethnic wear, casual wear, beauty essentials and sportswear led the demand during this period.
Beauty has emerged as a key growth driver, reaching 30% of annual active shoppers and accounting for 20% of new customer acquisition, according to Pais as reported by Moneycontrol. The category is growing nearly twice as fast as the broader online beauty and personal care market. Myntra is using artificial intelligence to improve product discovery, personalisation and conversion, with AI-led personalisation helping improve conversion rates by around 20% in 2026 compared with previous years. Personalised search reaches 90% of consumers, while size-and-fit tools cover 85% of eligible apparel. AI has cut seller onboarding time from 10-15 days to less than two days and reduced catalogue creation from a day to around four hours. The company now reaches 10 million consumers via content commerce, up from seven million late last year, with Gen Z accounting for 52% of views on Glamstream.
