Archive · 28 May 2025
Myntra Receives Funding, Expands to Singapore and Enters Rapid Delivery
Imagine a big online store called Myntra got a lot of money from its parent company.
They used this money to start selling to people in Singapore too.
Myntra now offers 'Made-in-India' fashion to people living in Singapore.
This helps them compete against other stores.
Myntra also started delivering things super fast, like some other stores that deliver in minutes.
They even made a profit last year, meaning they earned more money than they spent!
Myntra received Rs 1,062.5 crore in funding from its parent company.
The company expanded its services to Singapore with the launch of Myntra Global.
Myntra turned profitable in fiscal year 2024, reporting a net profit of Rs 31 crore.
Myntra is facing increased competition, including the return of Shein.
The company has entered the rapid delivery market with M-Now.
- Who
- Myntra, its parent entity FK Myntra Holdings, and competitors like Shein.
- What
- Myntra secured funding and expanded to Singapore, entering rapid delivery.
- When
- May 2024 - May 2025
- Where
- India and Singapore
- Why
- To expand operations and compete in the online retail market.
- Funding Amount
- Rs 1,062.5 crore
- Parent Entity
- FK Myntra Holdings
- FY24 Operating Revenue
- Rs 5,122 crore
- FY24 Net Profit
- Rs 31 crore
- New Service Location
- Singapore
- Singapore Shipping Time
- 4-7 days