Fashion e-commerce platform Myntra said it has reported a 33 per cent surge in Monthly Active Users (MAU), to 60 million by the end of 2023, rising from 45 million in 2021.
According to an official statement by the company, the online platform reported GMV (gross merchandise value) growth nearing 2X of the market, “Integral to this market-leading growth has been a 33 per cent surge in monthly Active Users (MAU), rising from 45 million in 2021 to an 60 million by the end of 2023 alongside unprecedented customer growth.”
It also stated that the company has remained EBITDA positive for the last two quarters and has been on a growth trajectory since H2 of CY 2023.
In addition, Myntra has added to its list of international brands and currently has over 400 international brands in its portfolio across Fashion and Beauty segments. It onboarded 50 international brands on the platform in 2023 and launched a app-in-app proposition for Gen-Z Fashion, FWD, with over 500 brands.
Myntra reported 2 million monthly users engaging with its new features like MyFashionGPT, Maya and AI Stylist.
Nandita Sinha, CEO, Myntra, said, “We are pleased to be at the vanguard of fashion, beauty and lifestyle in India, while posting market-leading growth. Accomplishing this feat is also a testament to the success of our customer-first approach, ability to invest in the right growth engines and of our financial resilience, which has held us in good stead.”