Myntra vs Nykaa: Founders, CEOs and History
Myntra was founded in 2007 by Mukesh Bansal, Ashutosh Lawania, Vineet Saxena and is led by Sharon Pais. Nykaa was founded in 2012 by Falguni Nayar and is led by Falguni Nayar.
Company facts
Founders
Myntra
Mukesh Bansal
Mukesh Bansal is a highly visionary Indian technology entrepreneur and the profoundly influential CEO and co-founder fundamentally responsible for architecting the massively dominant Myntra fashion e-commerce empire.
Ashutosh Lawania
Ashutosh Lawania is a fiercely brilliant software engineer and the profoundly influential operational co-founder fundamentally responsible for the incredibly robust supply chain and early digital logistics of the massive Myntra fashion platform.
Vineet Saxena
Vineet Saxena is a highly dynamic technology executive and the profoundly influential technical co-founder fundamentally responsible for programming the absolute structural bedrock of the massive Myntra e-commerce platform.
Nykaa
Falguni Nayar
Falguni Nayar (born 1963, Mumbai) founded Nykaa in 2012 after a career in investment banking at Kotak Mahindra. She led the company through its 2021 IPO and remains Executive Chairperson, Managing Director and CEO.
CEOs and their tenures
Myntra
- Mukesh Bansal2007–2015
Co-founder & Former CEO
Co-founded Myntra, led the pivot to fashion and the 2014 sale to Flipkart; later co-founded Cure.fit.
Source - Nandita Sinha2022–2026
Former Chief Executive Officer
Led Myntra from 2022 to 2026, taking it to its first profit in FY24 and ~$63.6 million (₹548 crore) net profit in FY25; joined Swiggy Instamart as CEO in August 2026.
Source - Sharon Pais2026–present
Head / Chief Executive of Myntra
Former Myntra chief business officer (about four years) and head of Flipkart Fashion; took charge in April 2026 with M-Now quick fashion delivery, brand expansion and AI-led discovery as priorities.
Source - Kannan Ganesan2026–present
Chief Financial Officer
Former Flipkart vice president who replaced Abhishek Gupta as CFO in early 2026.
Source
Nykaa
- Anchit Nayar
Executive Director & CEO, Nykaa Beauty
Leads Nykaa's largest and most profitable business.
Source - Adwaita Nayar
Co-Founder, Executive Director & CEO, Nykaa Fashion
Built Nykaa's second major business beyond beauty.
Source - Falguni Nayar2012–present
Founder, Executive Chairperson & Chief Executive Officer
Built Nykaa into India's largest specialist beauty retailer, with revenue above $1 billion in FY2026.
Source
Timeline: Myntra and Nykaa side by side
2007Myntra
Myntra Founded in Bengaluru
Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena launched Myntra as a personalized gifts site.
2011Myntra
The Historic Pivot to Pure-Play Fashion E-Commerce
Pivoted from personalized gifts to fashion apparel, onboarding top global and Indian brands.
2012Myntra
Launch of In-House Private Label 'Roadster'
Introduced Roadster, which became one of Myntra's largest in-house casualwear labels.
2012Nykaa
Nykaa Founded by Falguni Nayar in Mumbai: Falguni Nayar incorporates FSN E-Commerce Ventures in Mumbai and launches Nykaa.com with an inventory-led beauty model.
2014Myntra
Acquired by Flipkart
Flipkart acquired Myntra in a deal valued at about ₹2,000 crore (roughly $330 million).
2014Nykaa
First Physical Retail Store Opens at T3 Airport Delhi: Opens its inaugural brick-and-mortar store at Terminal 3 of Indira Gandhi International Airport, New Delhi, initiating its omnichannel strategy.
2015Nykaa
Launch of Nykaa Cosmetics Private Label: Debuts in-house private label beauty collections (Nykaa Cosmetics and Nykaa Naturals), offering premium, affordable nail enamels and lipsticks tailored for Ind…
2018Myntra
Walmart Acquires Flipkart Group for $16 Billion
Walmart acquired controlling stake in Flipkart, providing global retail supply chain backing.
2018Nykaa
Launch of Nykaa Fashion & Nykaa Man: Diversifies beyond cosmetics by launching dedicated standalone digital destinations for multi-brand fashion apparel and men's grooming.
2019Nykaa
Launch of Kay Beauty with Katrina Kaif: Launches Kay Beauty with actor Katrina Kaif as an owned makeup brand.
2021Nykaa
Bumper Initial Public Offering on NSE & BSE: Lists on the NSE and BSE after a ~$621 million (₹5,352 crore) IPO; shares open 79% above the issue price and the market value crosses ~$11.6 billion (₹1 la…
2022Myntra
Nandita Sinha Appointed Chief Executive Officer
Former Flipkart executive Nandita Sinha became CEO; Myntra turned profitable in FY24 under her leadership.
2022Nykaa
Launch of Superstore by Nykaa (B2B E-Commerce): Scales Superstore by Nykaa, a B2B app supplying small beauty retailers, chemists and salons.
2023Myntra
Launch of Myntra FWD (Gen Z Fast Fashion Hub)
Unveiled dedicated trend-first fashion portal with weekly micro-drops and creator styling.
2024Nykaa
Nysaa launch in the Gulf: Partners with Dubai-based Apparel Group to launch Nysaa, an omnichannel beauty format for the GCC.
2025Myntra
Net Profit Reaches ₹548 Crore
FY25 operating revenue rose 18% to ~$701 million (₹6,043 crore) and net profit jumped about 18-fold to ~$63.6 million (₹548 crore).
2026Myntra
Sharon Pais Takes Over From Nandita Sinha
Sharon Pais was named head of Myntra in April 2026; Sinha later became CEO of Swiggy Instamart from 3 August 2026.
2026Nykaa
Revenue crosses $1 billion: FY2026 revenue rises 26% to ~$1.16 billion (₹10,022 crore) on GMV of ~$2.32 billion (₹19,963 crore); net profit roughly doubles.
2026Nykaa
FY2030 vision: $5 billion+ GMV: At its June 18, 2026 investor day Nykaa targets $5 billion+ GMV by FY2030 and 4 to 5 times EBITDA growth.
Acquisitions
Myntra
- Witworks2018Undisclosed
- Pretr Online Services Pvt2018Undisclosed
- Jabong.com2016$70M
- Cubeit2016Undisclosed
- Native52015Undisclosed
Nykaa
- Aminu Wellness (51% stake)2026$320M
- Earth Rhythm (staged stake increases)2022$4.2B
- Dot & Key Wellness (majority stake)2021Undisclosed
- Pipa Bella2021Undisclosed
- 20Dresses2019Undisclosed
Questions about Myntra vs Nykaa
Who is the CEO of Myntra and Nykaa?
Myntra is led by Sharon Pais and Nykaa is led by Falguni Nayar. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Myntra founded vs Nykaa?
Myntra was founded in 2007 — 5 years before Nykaa, which was founded in 2012. Myntra's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Nykaa.
How many employees does Myntra have compared to Nykaa?
Myntra employs approximately 5,500 people, while Nykaa employs approximately 4,500. Myntra has the larger workforce at 5,500 employees, compared to Nykaa's 4,500. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Myntra and Nykaa headquartered?
Both Myntra and Nykaa are headquartered in India, meaning they operate under the same primary regulatory and tax environment.
Who founded Myntra and Nykaa?
Myntra was founded by Mukesh Bansal, Ashutosh Lawania, Vineet Saxena. Nykaa was founded by Falguni Nayar.
Which company has a longer operating history — Myntra or Nykaa?
Myntra has been operating for approximately 19 years, making it the more established of the two companies. Nykaa has been in operation for around 14 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Myntra vs Nykaa overview