You'll soon be able to buy from Myntra in Singapore
What's the story
Myntra, a leading fashion e-commerce player owned by Walmart, is gearing up to expand its footprint in Singapore, as per Moneycontrol. The company already has a strong presence in India's $20 billion fashion market. Myntra should go live in Singapore in the coming weeks and will mostly focus on Indian ethnic wear among other categories during the initial period.
Strategy
Why was Singapore chosen?
Myntra's decision to launch in Singapore comes from the country's strong demand for Indian ethnic wear. This move is part of a broader global expansion strategy at Myntra, which plans to enter other countries as well.
Market dominance
Expansion marks a significant milestone
Myntra's foray into Singapore is a major milestone for the company, making it one of the first Indian new-age e-commerce firms to operate outside India. Along with Flipkart Fashion (also owned by Walmart), Myntra commands over 50% market share in India. According to a Bank of America survey in March 2025, around 57% of respondents preferred Myntra for their fashion purchases, ahead of Nykaa Fashion and Ajio (22% and 14%, respectively).
Finances
Profitability and revenue growth
Myntra's international expansion decision comes after the company turned profitable, posting a profit of ₹31 crore in FY24. This was a major turnaround from a loss of ₹782 crore back in FY23. Myntra's revenues also witnessed a 15% year-on-year (YoY) growth to ₹5,122 crore in FY24 according to regulatory filings.