Myntra Goes Global with Singapore Launch; Shiprocket Preps for ₹2,500 Cr IPO

Myntra’s International Leap: Indian fashion e-commerce leader Myntra has launched ‘Myntra Global’ in Singapore, marking its first direct overseas expansion. The move targets the 650,000-strong Indian diaspora in Singapore, offering 35,000+ styles from 100 Indian brands, including apparel, footwear, accessories, and home décor. Orders will be shipped from India with a delivery window of 4–7 days, leveraging third-party cross-border logistics.

 

Why Singapore? CEO Nandita Sinha cites Singapore’s concentrated Indian community and rising demand for culturally rooted fashion as key reasons for the launch. Myntra aims to capture 12–15% of the Indian consumer segment in Singapore, focusing initially on Indian wear and festive collections before expanding into other categories.

 

Growth & Profitability: The global push comes as Myntra reports a turnaround to a ₹31 crore profit in FY24, up from a ₹782 crore loss last year, and a 15% jump in revenue to ₹5,122 crore. The company sees this foray as a springboard for further international expansion.

 

Shiprocket’s IPO Runway: Meanwhile, logistics tech unicorn Shiprocket is set to file a confidential prospectus with SEBI for a ₹2,000–2,500 crore IPO. Backed by Temasek and Zomato, Shiprocket will use the proceeds for tech upgrades, acquisitions, and expanding logistics infrastructure. The company, which turned cash-flow positive in FY25, reported a 21% revenue rise to ₹1,316 crore in FY24 and now enables over 4 lakh merchants across India and 160 countries.

 

Ecosystem Impact: Both moves highlight the growing global ambitions of Indian startups and the increasing investor appetite for tech-driven platforms in e-commerce and logistics.

 

Source: Inc42, Economic Times, Business Standard, CNBC-TV18