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Myntra draws about 10% of revenue from creator-led commerce and will bring sellers and brands onto the system over three years
Myntra expects its creator-led and social commerce business, which it began in December 2024, to outgrow India's social-commerce market, forecast at 22-24% a year. Shoppers who engage with such content have baskets more than 40% higher on average, the company says.
The numbers
Figures from Mint,
| Myntra operating revenue FY25: | ₹6,043 crore |
|---|---|
| Myntra operating revenue FY21: | ₹2,407 crore |
| Active creators each month: | about 500,000 |
| Glamstream monthly users: | about 7 million |
| Meesho content commerce NMV FY25: | ₹707 crore |
Why it matters to operators and investors
Myntra plans to bring sellers and brands onto its creator-commerce system over three years, so creator-tech, influencer-management and social-commerce players may become partnership or acquisition targets as the platform builds out the model.
What to watch next
- Myntra or its parent disclosing a creator-led share above ~10% of revenue
- A formal launch of creator tools for third-party sellers and brands
- Estimates showing India's social-commerce market growing faster or slower than 22-24% a year
- Rival platforms announcing creator payout increases or exclusive creator contracts
- New influencer-disclosure or e-commerce advertising rules from Indian regulators
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Myntra is likely to open creator-commerce tools to more sellers and brands in phases over the next three years, starting with larger brand partners that already supply the platform.
- Expect Myntra to cite the ~10% revenue share as proof the model works, and to set a target of outgrowing the 22-24% market rate when it talks to brands and investors.
- Rival fashion and social-commerce platforms, such as Meesho, Nykaa, Ajio and Instagram-led shopping, may respond with higher creator commissions or exclusive creator deals to avoid losing talent.
- Fashion brands are likely to move part of their performance-marketing budgets into creator-linked listings on Myntra if attribution and sell-through data look better than paid ads.
- Regulators and advertising self-regulators may tighten scrutiny of influencer disclosure as creator-led sales grow, which would push Myntra to formalise labelling and creator-conduct rules.
The counter-case
The case against this reading — not reported by the source.
The headline figure is thin. 'About 10% of revenue' appears to be company-reported, with no definition. It could mean GMV, net revenue, or any sale touched by a creator link, and those differ a lot. Creator-led commerce started in December 2024, so the share is probably a mix of new demand and sales that would have happened anyway through search, ads or app browsing, now credited to creators. If much of it is relabelled existing demand, the strategic value is far smaller than the headline implies. Beating a social-commerce market forecast to grow 22-24% a year is also a low bar for a young channel starting from a small base. Fashion has high return rates, and creator commissions plus affiliate payouts could dilute margins. The three-year plan to bring sellers and brands onto the system is a stated intention, not a result. Execution risks include creator quality, content fatigue, brand-safety incidents, and tighter influencer-disclosure and consumer-protection rules. Competitors such as Meesho, Instagram, YouTube, Ajio, Nykaa and Amazon can all chase the same creators, which may push payouts up and lower returns.
The source
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