Myntra outpaces market with strong growth trajectory

Bengaluru: Myntra, India's premier fashion, beauty and lifestyle destination, on Tuesday said it has been on a strong growth trajectory, growing notably faster than the online fashion market since H2 (second half) of CY 2023, with GMV growth nearing two times of the market during the recent festive season.

Integral to this market-leading growth has been a 33 per cent surge in Monthly Active Users (MAUs), rising from 45 million in 2021 to an impressive 60 million by the end of 2023, alongside unprecedented customer growth, the company said in a statement. Myntra's key pillars of expansion continue to be trend-centric offerings, expanding share of wallet in non-apparel segments, a drive in premiumisation in fashion with segments like Beauty, International and D2C brands, geographical expansion into non-metro cities, differentiated offerings for the emerging Gen-Z cohort and expanding offerings for the evolving need states of its premium fashion-forward customer base.