Nykaa vs Myntra: revenue, valuation and funding compared
The short answer
Nykaa reported the highest revenue, ₹10,022.4 crore in FY26, against Myntra ₹5,242 crore in FY26. Nykaa was profitable in the latest year reported; Myntra reported a loss.
Nykaa and Myntra are the two best-known online sellers of beauty and fashion in India. Nykaa, run by FSN E-Commerce Ventures, sells beauty, personal care and fashion online and through its own stores, and it is listed. Myntra is a fashion and beauty platform owned by Flipkart, which bought it in 2014. People compare them because they chase the same shoppers, with beauty a growing line for Myntra and fashion a growing line for Nykaa.
Both profiles use FY26, the year to March 2026, as the latest year, so the comparison is like for like in time. Nykaa's figures are consolidated revenue from operations and net profit. Myntra's are its own reported operating revenue and net result, not Flipkart group figures. Every number on this page comes from the two StopDown profiles.
Side by side
| Nykaa | Myntra | |
|---|---|---|
| Founded | 2012 | 2007 |
| Based in | Mumbai | — |
| What it sells | Online and in-store retailer of beauty and fashion products in India | Fashion and beauty e-commerce platform, part of Flipkart |
| Status | Listed | Acquired |
| Revenue, latest year | ₹10,022.4 crore FY26 Bigger | ₹5,242 crore FY26 |
| Revenue, year before | ₹7,950 crore FY25 Bigger | ₹6,042.7 crore FY25 |
| Growth | +26% (FY25 to FY26) | -13% (FY25 to FY26) |
| Net profit (loss), latest year | ₹203.9 crore FY26 Profitable | ₹579 crore loss FY26 |
| Last disclosed valuation | — | — |
| Total raised | — | — |
| Last round | — | — |
| Profile | Nykaa on StopDown | Myntra on StopDown |
Scale
Nykaa is now the larger of the two. Its FY26 consolidated revenue from operations was ₹10,022.4 crore, up 26% from ₹7,950 crore in FY25. Myntra's FY26 operating revenue fell 13.5% to ₹5,242 crore from ₹6,042.7 crore in FY25.
Nykaa had 324 offline stores in June 2026 and set a goal of gross merchandise value above $5 billion by FY30. In the April to June 2026 quarter it reported revenue of ₹2,782 crore. The Myntra profile has no store or user counts.
Money
The two went in opposite directions. Nykaa's net profit rose to ₹203.9 crore in FY26 from ₹72 crore in FY25, and was about ₹80 crore in the April to June 2026 quarter. Myntra swung to a net loss of ₹579 crore in FY26 after a profit of ₹548 crore in FY25. The profile links the FY26 loss to restructuring costs from moving its parent back to India.
Neither profile lists funding rounds or a valuation. Nykaa is listed, and this page makes no comment on its share price. Myntra's price tag in the profile is the $240 million Flipkart paid for it in 2014, as reported.
Where they are heading
Nykaa's plans include owned brands passing ₹5,000 crore in net sales and the $5 billion GMV target for FY30. It is buying into skincare: a 51% stake in Aminu for up to ₹32 crore in August 2026, a further 24.17% of Earth Rhythm for ₹9.4 crore in May 2026, and talks over a majority of 82°E, the brand of Deepika Padukone. Myntra's profile points to a new chief executive, Sharon Pais, from April 2026, and its use of generative AI, which it says cut merchant onboarding from 15 days to 2.
The numbers behind the table
Nykaa: revenue and profit by year
| Year | Revenue | Profit or loss | Note |
|---|---|---|---|
| FY26 | ₹10,022.4 crore | ₹203.9 crore | consolidated, revenue from operations and net profit; FSN E-Commerce Ventures |
| FY25 | ₹7,950 crore | ₹72 crore | consolidated, revenue from operations and net profit; FSN E-Commerce Ventures |
Myntra: revenue and profit by year
| Year | Revenue | Profit or loss | Note |
|---|---|---|---|
| FY26 | ₹5,242 crore | ₹579 crore loss | Myntra's own reported numbers (operating revenue, net result), not Flipkart group |
| FY25 | ₹6,042.7 crore | ₹548 crore | Myntra's own reported numbers; profit given as 548 to 548.3 in sources |
Questions people ask
Which is bigger, Nykaa or Myntra?
Nykaa. Its FY26 consolidated revenue from operations was ₹10,022.4 crore, against ₹5,242 crore of operating revenue for Myntra in FY26. Myntra's figure is its own reported number, not Flipkart group.
Is Nykaa profitable?
Yes. Nykaa reported a consolidated net profit of ₹203.9 crore in FY26, up from ₹72 crore in FY25. Myntra posted a net loss of ₹579 crore in FY26.
Who founded Nykaa and Myntra?
Falguni Nayar started Nykaa in 2012 and is its executive chairperson and chief executive. Myntra was founded in 2007 by Mukesh Bansal, Ashutosh Lawania and Vineet Saxena.
Who owns Myntra, and is Nykaa listed?
Myntra is owned by Flipkart, which bought it in 2014 for $240 million as reported. Nykaa is a listed company, and neither profile records funding rounds for either.
Every figure on this page comes from the companies' StopDown profiles, which list the filing or statement behind each number: Nykaa, Myntra. Revenue is revenue from operations unless the note says otherwise; valuations are as disclosed at a round or by the company; nothing here is investment advice. How StopDown counts.