Is Myntra Indian? Tracing India's Favourite Fashion App Back to Walmart
Myntra was founded by IIT alumni in Bangalore. But Flipkart acquired it in 2014 — and when Walmart bought Flipkart in 2018, Myntra went with it. Here's the ownership trail.
Myntra is the app where millions of Indians browse fashion. Its End of Reason Sale is a cultural event. Its influencer partnerships, its style content, its same-day delivery in major cities — Myntra has built a genuinely strong brand. It feels Indian in every interaction: the vernacular content, the Indian size standards, the festival-focused campaigns.
The ownership trail tells a different story.
The founding
Myntra was founded in 2007 by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena — all IIT alumni. It initially sold personalised merchandise (mugs, t-shirts) and pivoted to fashion e-commerce around 2010. Genuinely Indian in founding, team, and vision.
The Flipkart acquisition (2014)
In May 2014, Flipkart acquired Myntra for approximately ₹2,000 crore (~$330 million at the time). Myntra's founders largely exited. The company became a wholly-owned subsidiary of Flipkart, continuing to operate independently as a fashion-focused platform.
The Walmart chain (2018)
When Walmart acquired Flipkart in 2018 for $16 billion, every Flipkart subsidiary — including Myntra — passed to US ownership. Myntra is now, through the corporate chain:
- Myntra Designs Pvt. Ltd. (Indian operating entity)
- → Owned by Flipkart Internet Pvt. Ltd.
- → Owned by Flipkart Private Limited (Singapore)
- → Owned by Walmart Inc. (USA, ~84%)
The Jabong acquisition and shutdown
Myntra acquired Jabong (another fashion platform) in 2016 for $70 million. Jabong was shut down in 2020 after failing to gain traction. The decision to shut it was made within the Walmart-Flipkart structure.
What this means
When you shop on Myntra and pay a platform fee, commission, or subscribe to Myntra Insider, that revenue flows up through Flipkart to Walmart's consolidated global accounts. Walmart reports it as part of its international e-commerce segment.
Indian fashion brands that sell through Myntra are Indian. But Myntra the platform is US-controlled.
The verdict
Myntra is foreign-controlled — owned through Flipkart by Walmart Inc., USA. Founded by Indians, built for Indians, ultimately owned by Americans. Explore Indian-owned fashion e-commerce alternatives on the Switch To India platform.
Myntra
🌐 Foreign-controlled
Myntra Designs Pvt. Ltd. (Flipkart/Walmart) · Control: India
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